Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1923-02-03
cry United Press.1

alton" These are the two words
that contain the solution of the
worlds problems. according to
the report of The international
Trade Commission, which organ
ization spent three months in Eur
ope surveying the economic and
business conditions abroad.
Notwithstanding the treaty Of
Versailles and the low economic
statute of European notions,
Europe is more nearly on the
verge of military conflict than at
any period Immediately pre- .eding
the world war;" the report says.
."Unless some solution of the
problems is reached prior to the
expiration of the six-months' per-
iod, the condition in Europe will
be infinitely worse.
"The fundamental problem is
that of the settlement of the war
debts and Preparations. The set
Element cannot be handled piece
meal but must include all parties
to international financial obliga-
tions. America, as creditor ma
ton to the amount of ten billion
dollars, plus accrued interest,
must see that its interests are
protected.
France and Belgium base their
entire program of reconstruction
and rehabilitation and the return
of exchange to an approximate
normal status upon German re-
paration payments. They say
Germany must pay
Germany with its gold and
securities of value out of the
country with apparent financial
collapse, boldly claims that the
treaty of Versailles must be
amended, that Germany may be
free to compete economically and
commercially with other countries
of the world and claims that Ger
many cannot pay anything like the
sum demanded-not at all, until
she is free to export. ...........
HOLLAND as a neutral observer
agrees that Germany cannot pay
and plainly says that the economic
future of Holland is bound up IN
the fate of Germany. They say
If Germany succeeds, Holland
will prosper; if Germany fails,
Holland will fail.
'qtaly has more nearly balanc-
ed her budget and England has
balanced hers. These nations do
not maintain that their economic
future is dependent upon Ger
man Preparations.
eff a settlement is reached and
settlement must be reached if the
peace of the world is to be re-
stored and guaranteed, then two
basic considerations must be ac-
cepted: ~,
81. America cannot cancel the
debts of the nations. but all ma
tions must ultimately pay their
obligations with dignity and hon
or. =,
"2 The World War is ended
and while hate and anger Is still
in the hearts of many, the set
t,ement between nations former
Nv belligerent must be on a basis
of mutual respect and consldera-
ton.
"Two words contain the solu'
ton of the worlds problems IN
the international settlement IN
this hour of unhappy and chaotic
uncertainty. They are mora
torium' and Amortization. Let
no nation ask for its debts to De
forgiven: only for time and pa
tient consideration. Amenument
70 the Treaty of Versailles must
be agreed upon, giving Germany
the opportunity of free compe'i-
tion economically with all nations
and France and Germany must
have guarantees of freedom IRON
'-,,,,..ta+;ou and military attack.
"A moratorium of a long ana
absolutely definite period must
be accepted. If America as a
creditor nation attempts to force
navments from the nations Oh
E,,rope. the result would be ois-
astrous and if the former Allies
attempt to force the defeated ma
t;ons beyond the ability to pay;
II would inevitably lead to armed
conflict. o,,o,,nd
"Tbe nations must agree around
q table. to an amoltiza'!on
schene of settlement. Aner'c"
might generously agree to feauee
The interest rate a little lower
than four and quarter per cent
"a nsrp,it half of one per
cent Of the interest agreed upon
70 90 10 smortire the loan OF ten
billion dollars aud thus with tne
PAYMENT IF the interest ana
amortization, annually, the debts