The Republican., 1924-09-18
WHAT SEN. WELLER SAYS
OF EUROPEAN CONDITIONS
Statement of Maryland's Sena-
tor Upon His Return From
Switzerland Conference
To the Editor of The Republican.

IN the country. Its recent industrial
expansion has been rapid. It's near
future development, upon which de-
pends the prosperity of Maryland,
hinges largely upon the improvement
in the situation abroad. 1t was with
the idea of studying business condi-
tions there that l accepted the invi-
tatlon to representative Senators
Curtis, Mckinley and Spencer-the
United States Senate at the confer
ence of members of the parliaments
of the leading nations of the world
held in Switzerland in August.
This meeting was attended by prom
inent statesmen from thirty-five coun-
tries, including Germany and the Irish
Free State. Various questions of in
ternational Importance were discuss
ed in a cooperative spirit. An invita-
tion to hold the next gathering in
Washington in 1925 was accepted
eagerly and unanimously, because of
our pre-eminent influence in world af-
fairs.
The Dawes plan was adopted dur
ing our stay in Europe. Secretary
Hughes, who made a splendid impress
sion there, laid the foundation for it,
and Ambassador Kellogg was poten-
tial in bringing the London negotia-
tions to a successful conclusion. 1t
was ratified in France and Germany
by three-fOurths vote. Interests diff
fered as to details, but agreed upon it
as the best alternative presented for
the economic rehabilitation of Europe
and the world.
The London pact is a recognition
Of the principle of arbitration for set
tlement of international disputes. 1t
was necessary for the peace and pro-
gress of mankind. The Dawes report
is the greatest piece of constructive
work in modern times. 1t is founded
on sound economic, social and polit-
ical principles.
France is the most prosperous
country in Europe. l crossed it twice
by rail- spent two days on its battle
fields and flew over its northern part
by airplane from Paris to London.
Frances crops are good, her business
expanding and 100000 laborers year
are being imported to meet the de-
mand. The restoration of the war re-
gion, which produces rs per cent of
France in coal, coke, iron, steel, su-
gar, cotton and wooden goods, is prac-
tically complete. Her coke output has
increased from three million tons in
1918 to five millions in 1928. She has
largely increased her investments in
Southeastern Europe. Her industrial
and military position is stronger than
for years.
France has accomplished this by
heavy public expenditures for the re-
construction and industrial re-equip-
ment Of her devastated war areas
This has averaged S2,500,00O,000 a
year since 1919, and this enormous
sum has been sepnt in a country no
larger in area than New York State
Against this, her public revenue has
| averaged $1,000, 100000 This leaves
a defcite of S7,500,O0 900 for the five
years which has been borrowed out of
! the savings of the French peasantry
| France has made no provision fol
balancing her budget and paying off
her national debt. She does not even
! acknowledge her Indebtedness of S3,-
500,O000O0 to US. The French feel
strongly that we should cancel it. HeI
attitude regarding what she owes
Great Britain is much the same.
In England the situation is not
good. Commerce and shipping are
/ languishing. There is one million un-
employed Taxation is grievous bur-
den, vastly greater than ours. We
captured during the war much OF
/ England's colonial and foreign trade
She lost 25 per cent of her business
with US. The English are carrying
on" but with misgivings as to what
is ahead Of them.
Germany can only pay her huge
indemmties by selling her products
to the world. Under the Dawes plan
she can do this. With S2O0,O0O,OOC
loan, S1OO,O0O,OOO in the German
! Bank, and other funds, she will have
a gold reserve of 40 per cent on near
ly billion dollars. With this credit
she can buy the raw materials she
needs and meet her obligations. With
her magnificent manufacturing plant
Completely modernized out Of its
profits, and with deprecated marks,)
her great industrial combinations, her
new and rapidly growing merchant
fleet, her genius for foreign COM
merce, her low wages, long hours OF
labor, the thrift and energy of hel
masses, Germany can compete with
the world when she gets on her feet
England will feel this competition
first and most, probably the United
States next, and France last.
The early operation of the Dawes