The Washington times., 1923-08-11
CATASTROPH IN
EUROPEHELD
UNLIKELY
Frank L. Kent, International
Banker, Sees American Aid
impossible at Present.
BY w. s. COUSINS.
copyright, 1923, by Cosmopolitan
MnnuS Carvinal

News Service.)
NEW YORK, Aug. 11.-"That
serious catastrophe will occur IN
Europe before peaceful conditions
are restored does not seem prob
able in spite of the very serious
situation which exists today In
important European countries.
"I look for an ultimate settle
ment of the reparation issue that
will allow the rebuilding Of world
trade, but can see no way Tor
America to step into the European
situation just now"
Frank L. Kent, vice president OF
the Bankers Trust Company Oh
New York, one of the best known
of Americas international bankers
and financial diplomats, thus sum-
married. the European situation to-
day, Kent has just returned from
a five-months' tour Of Continental
Europe and spoke optimistically OF
his observations of conditions there.
At the recent convention OF the
International Chamber Of Commerce
at Rome, Kent was credited with
having made the keynote" address,
giving expression to sentiments
which shaped the policies Of promi-
nent European statesmen. He has
frequently been called into con-
ference on European matters at
the State Department and at the
White House.
Bound to Improve.
Conditions in Europe are bound
to improve" said Kent. "Of course.
the one big issue is the repara-
tions question, and the delay in
solving that question is reflected
in the lack of progress in Eu-
ropean industry and trade. But
otherwise the barriers against in
ternational trade relationships are
gradually being broken down, and
the channels of commerce opening
up"
Knowing Kent had made an in
innate study of conditions in
France, Great Britain, Holland, Bel
GUM, Switzerland, Austria, Italy,
as also the new nations in Europe,
I asked him what had impressed
him most in his observations there.
1T was the large number Of men
and women who are working earn
estly and intelligently for the So
luton of the problems confronting
them" he said THE American
people are prone to jump at the
conclusion that everything in Eu-
ropean politics is rotten, that poll
ticians are interested only in their
own selfish schemes and are sacri-
ficing the interests of the people
for their self aggrandizement.
Same as in America.
IT found politicians and govern
ment officials in Europe very much
the same as in America. The men
at the head Of affairs have come
up from the people, and are COM
PEELED to wrestle with about the
same problems we find in Ameri-
naturally commended for the things
they do well and criticized when
they fail"
Kent pointed out that one of the
heritages of the war was the devel-
opment of mass thinking among the
peasant people Of Europe. Those
who in prewar days lacked wide in
telligence and lived in a somewhat
lethargic state" he said, ARE now
thinking for themselves and demand
a share in the conduct Of govern
ment.'
Kent warmly commended these
people for the intelligent and force
full efforts they are making to solve
the problems Of everyday life while
waiting for. the settlement of the
reparations issue. while observed
in some places a feeling of depres-
sion induced by fear Of what might
happen" he declared, II found an
jTofn % IL
every factor that would contribute
to the daily comforts of all. There
is no disposition to wait with hands
folded until the big question has
been solved"
Buying Power Low.
Returning to trade conditions,
Kent emphasized that European
buying power was low, a fact that
was reflected not only in the falling
off in European trade but also in
the decline Of Europe's power to
produce.
when trade is at a low ebb,"
said Kent, 1.-The ability to produce
cannot be marketed. But this should
cause us no undue concern at this
time, and 1 feel sure that we shall
soon have a more constructive basis
for our relationships with our Eu-
ropean customers"
What can America do, right now,
to help adjust the European tan
gle?" he was asked.
"Not a thing at present" said
Kent, "but 1 look for developments
some day that will materially change
the whole situation over there-and
then America will play an important
part in her rehabilitation"