The Birmingham age-herald., 1924-07-24
EuRoPEs CRAVE CRISIS

EUROPE'S GRAVE CRISIS
 There is pathetic note in the earnest desire of the allied powers to adhere to the plan of the experts in spite of the political differences to which the plan is not intended to apply. Indeed, it looks very much as if there is need of some good angel, whom all trust, to de- wise also a political as we'll as business basis of procedure. It may be that Am bassador Kellogg or MT. Hughes, or both of them in collaboration, have it in their province to outline such basis, if these gentlemen can shake off their meaning less reservations which they append to almost every sentence they utter. Mir. Hughes, for example, has been talking like a congressional document, with ex- planatory and defining codicils and ad- denda at every paragraph. The business experts went directly to the purpose, guided only by their experience, their in- telligence and their desire to do a good job. The diplomats act like men haunted by the ghosts of yesterday, and seem un- able to lay them. The situation despe- rately needs statesmanlike vision un- clouded by the habitual pettifoggery of European politics.
 There is now some divergence of view as to the proper guaranties to exact from Germany. The difficulty arises out of the fact that the guaranties acceptable to the French politicians are not re- garded as fundamental by the interna- tional bankers. Nor are they entirely acceptable to the other governments con- grasp on the German industrial areas, and would ,intersperse French employees among the German employees of rail roads and other industries forming the bankers, no doubt with much reason, look upon such a program as provocative of trouble and as detracting from the worth of the securities. The bankers must in the ones who must finance the plan of the experts; for surely it would be folly for governments to loan money on risks that bankers reject, especially bankers aloud for investment. +
 To be sure, the bankers should not be allowed to dictate to governments. That would be dangerous and destructive of political sovereignty. But the wisest dip lomats are those who know how to seek and to utilize the soundest advice. In this particular matter of reliability of guarantiesi where would one look better for advice than to those whose whole time is given over. to such considera- tions? The plan of the experts, more over, was ronceived and developed along the lines of business and financial prac- tice. To seek to interpret and apply this plan in political guise would be fatal to it. The diplomats may make what political agreements they choose, but let them not, seek to mix the political with the economic in a manner sure to con- flict with.economic law. Political law is shifty and flexible, but economic law cannot be flouted without economic dis aster. Politics, being highly adaptable, has here an unparalleled opportunity to exercise that quality.
 The plan of the experts is to be fol- lowed That seems assured. Now is the time to demand surcease of polit- ical bickerings, jealousies and delusions. The whole world is helping to pay the scot of this costly and long-drawn-out deadlock over German reparations and the provisions of the Versailles treaty. It is to the profit of all nations that this old affair be wound up speedily. Even our own government, for all it's studied aloofness, cannot conceal the concern we inevitably have in the situation. Our highest ambassador is taking part in the discussions and the head of our foreign relations is at this moment abroad with in easy call should emergency arise. However the purpose of MT. Hughes visit may be camouflaged, the one un- deniable fact is his presence in England at this critical juncture. MT. Hughes has even publicly declared in London that the failure of thp plan of the experts would "invite chaos" The world is permitted to infer that he meant that phrase in no light or casual manner. The well-being of the world is at stake. Let the chan cellories of Europe settle this problem promptly and rightly-or let them sum- mon to their aid men who can.