The Birmingham age-herald., 1924-03-18
GERMANY,s WAY OUT

from it's ficancial industrial and commercial ills the whole world must defer the fullest enjoyment of opportunities of trade and de- velopment Even the United States, though exceedingly prosperous, possesses some eco- homie sore spots that a wider market for certain products would cure. Therefore, the people of the United States are directly con- cerned in the outcome of efforts now being made to solve European economic problems.
 The sorest spot in all Europe is Ger many. Germanys ills are mainly deliberately brought on through the mistaken effort to evade formal pledges and financial contracts. The nucleus of that sore spot is the Ruhr district which is at the very center of Ger many's wealth and industrial activity. At present the status is we'll defined as a dead lock between Germany and the Allies on the subject of separations. For several years after the war, Germanys payments became more and more irregular, until finally Ger man defiance and repudiation reached a point that was almost total. Meanwhile, German magnates continued to amass great wealth from the uninterrupted activities in the great manufacturing cities of the Ruhr. The French seeing that the Germans were re- fusing payments when they evidently had the ability to pay, stepped into the Ruhr, justi- flying themselves on the ground that, if the Germans would not pay their debts, they should not continue to amass fortunes The act, with it's consequent depression of com merce and destruction of currency, consti- tuted the deadlock that held stranglehold on European and world enterprise when the economic commission, headed by Mr. Charles G. Dawes of America, was invited to diagnose the situation and formulate the remedy.
 The appointment of such commission was confession on the part of the diplomats that business intelligence must rescue where politics was throttling. And now there is reliable assurance that the commission has found the remedy. It is authoritatively set forth that the stabilizing of German cur rency can be accomplished by joint German and allied bank, situated in neutral territory, with a capitalization subscribed to- half by Germans and half by allied interests This bank will act as the agent between the Ger mans and their creditors, will collect defi- mite percentages from railroads, monopolies and taxes, and will place accommodating cred its to the account of the creditors in the proportions agreed on at the Spa conference. The Allies will; l;withdraw from any economic control whatever in the Ruhr or elsewhere in Germany, although they may maintain their garrisons and prisons at strategic points in the occupied districts, so that, in the event of future German rebellion against their interests, the occupation may again promptly be made complete and effective.
 There are other details carefully worked out, among them being the provision that tax rates in Germany shall not be lower than those in, the allied countries. At pres ent, such ratesSare much lower There is no consideration of reparations reductions, mor- atoriums or other devices of the sort. The experts have determined that Germany can begin to pay something at once. and have carefully worked out a plan whereby the payments shall automatically increase as the ability to pay increases. The question of re- auctions in separations the commission has regarded AS something not coming within its province to determine. The German rail roads, publicly owned will be mortgaged for ten billion marks to give some initial capital. Other provisions, which have been in general approved by German representatives, are equally substantial in making it possible to repay the creditors while at the same time leaving such anS annual surplus to en- courage the Germans in the belief that even tually they can pay themselves out and enjoy an increment of well-being and even pros- perity at the same time. In other words, the experts have discovered that Germany can afford to pay much better than she can afford not to pay. On the one hand is chaos on the other is orderly progress to economic stability. The Germans see it now, and there is reason to believe that they will henceforth cooperate in the plan to the end that they may the sooner be free from their yoke and their burden.
 The other nations of the world will profit proportionately as the commerce of the na- tions is set free from it's present inhbitions and the trade of~the world loses its fear of losses entailed by unstable currencies, shaky governments and insecuVe credits. The United States perceives a wider market for it's surplus products adequate tonnage for it's merchant marine, and solution for some of the international problems from the con- temptation of which Republican leaders have deliberately shrunk
 ON SCHOOL CONDITIONS