The Monmouth inquirer., 1924-07-24
ALLIES DISCUSS
DAWES PLAN
Welcome U. S. Aid Offered by AM
bassador and British Premier
Urges Report in Its Entirety.
BEGIN STUDY OF PROBLEM
French Finance Minister confers With
Lamont on Terms of Berlin Loan-u. 5.
Bankers Plan to underwrite Ger
man Loan Virtually Accepted.

London.-The Interallied Repara-
tons Conference got under way with
remarkable speed, grappled with sew
eral knotty problems and successfully
negotiated its first real serious peril,
thanks to the prompt Intervention OF
the Belgian Premier Theunis.
The feature of the first day was
the decision of the Politica, Sub-Com-
mittee of the conference-one OF three
subordinate bodies appointed-to ask
the World Court at The Hague to APP
point an American member on the
Reparation Commission to act unor-
fcially in event of German default
under the Dawes plan. This decision
must be ratified in plenary session IN
order to become effective.
One awkward point that arose ap-
pears likely to be solved as result OF
a chance conversation between Minis
ter of Finance Clementel of France
and a prominent New York banker
who is here, giving what he terms
suggestions"
The Reparation Commission has de-
cided that the German loan must be
subscribed before economic sovereign
ty can be restored to Germany. How,
1. was at once asked, can investors
get security?
Under the suggestion already
virtually accepted, international bank
hn 1nan n0n6i-
tionally before the scheme Is pro-
claimed actually in force, but the loan
will be issued to the public only after
Germany's economic unity has been
restored
French military experts immedi-
ately began work on plan described
as rehabilitation in the Ruhr Ito the
point of invisibility." This will not
be brought forward, however, until
the question CT economic evacuation
Is settled in committee.
Delegates of the five Allied powers,
the United States and the four small
countries interested in the repatriation
fight heard the formal speeches OF
Premier Macdonald, Of England,
Premier Herriot, of France, United
States Ambassador Kellogg, Baron
Hayashi, of Japan, and Minister Oh
Finance De Stefani, of Italy.
Being delivered for publication, the
speeches were devoid Of Importance,
except that Premier Macdonald again
emphasized the necessity of accepting
the Dawes report Is a unit.
hod hnan chosen
Chairman, and that part of the pro-
ceedings arranged to be made puDnc
had been completed. the Belglaus
and Italians requested the Anglo
French Joint note be laid on the table
for debate.
The British Premier read it and
pointed out that no revision of the
Versailles Treaty was contemplated
in the note. It became apparent DIS
sensions would arise at once between
the British and the French II the
other powers insisted on an exact In
depreciation of the doubtful passages
of the agreement"
Each of the big powers has four
representatives en- each committee.
Ambassador Kellogg and owen ID.
Young are members of all three COM
mittees. Col. James A. Logan, jr., un-
official observer with the Reparation
Commission, also is participating in
the conference.
1t is generally assumed in British
and American circles that if the con-
ference reaches an agreement and the
Dawes plan is put into effect. Mr..
Young will be asked to assume an i'm
portant post, probably that of Chair
man of the Transfer Committee,
known as the Agent-General of
Preparations.
A committee is considering mem
orandum, on behalf Of France, dealing
with evacuation of the Rhur by stages
to promote German economic unity
Germany being asked to make certain
pledges when the Reichstag passes
the nee essary laws to make the Dawes
ranort effective