Evening star., 1924-07-27
BY OLIVER OWEN KUHN.

| by OLIVER OWEN KUHN.
A hour of decision faces the
| ~ allied conference in London,
| n where statesmen of the allied
powers and unofficial repre-
sentatives OF American interests are
debating the Dawes plan with the
view of reaching concrete plans OF
| carrying it forward and advancing
general European welfare.
| The chief question involved is
whether France will capitulate to
the worlds common veal and sub
ordinate strictly nationalistic view
point or whether by Frances in
sistence upon her own peculiar
tenets the conference will be shat
tered.
| The decision. whatever may be said
by apologists for the French, pro-
fessional or otherwise, rests square
ly with France. Premier Herr1ot
whatever his own private views, will
| be forced to capitulate or shatter
all chances Of reconstruction along
lines entirely acceptable by other ma
tions of the world. And IL the con-
fall to reach an equitable agreement
measured by the general good of all ma
tions, it may be taken for granted that
France will occupy an entirely
politically isolated position, which
| will have far-reaching evil effects,
economically and financially.
Clash of Viewpoints.
The French viewpoint is that the repa-
rations commission under no circum-
stances shall share or give way it's right
to decide what shall and shall not be
| done in case Germany should default
on reparations. France insists upon re-
tention of her right to enforce sanctions
against Germany independently, if nee
| essary. The Americans, British and
others possibly, excepting Belgium, de-
clare that no 200,00O,000 loan, the
amount provided for under the Dawes
plan. can be foated if security is to be
hazarded by the whims or caprices of
any one government International
| financiers who will have most to do
with the loan back up other allies Her
riot sees overthrow in France if he con-
cedes this point which his political
enemies declare would be a surrender
| Of Frances rights under the treaty of
tates about doing anything. The posi-
| tion Of the other allies is opposed to
the French theses, and it is declared
| that France, to gain the eventual re-
wards of settled order in Europe, should
concede and make certain fulfillment of
the Dawes plan.
Want Absolute Guarantees.
The position of the financiers in re-
gard to absolute guarantees that the
whole future Of Germany shall be safe
| guarded against the unwarranted or
prejudicial action on the part of any
| one government is mere matter of
precaution- The great bond issues nee
essarily must be subscribed by the aver
| age small investor in the countries in
which the loan is f1oated. No reputable
fnancier would make such a loan with
out exercising every precaution as to
the security of his clients funds. And
with the reparations commission French
controlled there could be little chance of
insuring security to investors in Amer
ica or any other country, inasmuch as
France recently has been governed by
politicians who are making the German
reparations question a political foot bali
for their own peculiarly selfish ends
| Poincare and his cohorts are rest
ing in Paris, ever ready to oust Her
riot and his government ON this issue.
They still have power to do this in
Parliament, cen though the majority
of the French people are eager and
willing to bear a proportionate share
of national sacrifices in order that
the whole question, which in the final
analysis is an economic one, shall be