Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-01-19
FRANCS FALL ST|RS
KEENER INTEREST IN
OPERATIONS MEET
u, S, Experts, Working With
Full Moral Support of Gov
eminent, Closely Watched
by President
81 BY DAVID LAWRENCE
Leased Wire Service to The Journal.)
lCopYrig ht, 1924.

Copyright, 1924
WASHINGTON, Jan. l7.-Eu-
ropes economic future, and partlcu-
laIy the drop in the value of the
French franc, is occasioning much
more concern here than appears on
the surface.
President Coolidge has gone out
of his way several times to make
it clear that Owen d. Young, Charles
G.. Dawes, and Hery M. Robinson.
who are serving as expert advisers
10 the reparations commission, have
no official connection with the Unit
ed States government, but the pur-
pose of that declaration is merely
to prevent the Hiram Johnsons and
Medill McCormicks from charging
that the American government is
meddling in Europe once more.
The truth is that all three of the
experts are working abroad with the
full moral support of the United
States government and that their I'M
official status is regarded on the
other side of the Atlantic as simply
"a technicality.
The greatest interest prevails here
in what Messrs. Dawes, Young and
Robinson are doing and may do. 1t
Is no exaggeration to say that the
government here has so much conf
dence in the ability of these three
men that it is hoping the entire rep
aration problem may be solved ulti-
mately as a result Of their efforts.
:. Owen Young is an intimate friend
of President Coolidge. The President
has unlimited confidence in Mr..
Young's judgement. When Mr.. Cool
idge entered the White House, one
of his first talks on foreign affairs
was with Mr.. Young, who had just
returned from a trip to Europe.
What Owen Young says will have
all the weight of an official recon-
mendation whenever it is made.
Unofficial Status An Asset
1t is important to bring out this
relationship because the denial Of
official connection is intended for
home consumption and is of course,
literally true because the govern
ment's interest in the mission of the
three experts is as great, if not
greater, than it would be if the mis-
sion we're Official
For one thing neither the presi-
dent nor Secretary of State Hughes
are sending instructions to the three
experts. They are working indie
pently. The chances are that il
they had been officially appointed
the government here would have felt
measure of responsibility for every
move made and every statement ut
tered. AS it is the experts are free
to express themselves-and Mr..
Dawes already has done so-in a
fashion that is unrestrained by diplo-
matte etiquette or governmental in
StructiOn.
Everything that the three Ameri-
can experts do is, of course, official
ly reported by Colonel John A. Lo-
gan, who represents the United
States government in the capacity
OF observer" at the Preparations com
mission meetings. He has an office
with the delegates from other coun-
tries and has at his command all the
data which the other nations have
collected with respect to PREPARATIONS.
Since his business is to report to the
department of state on all things
appening in the offices of the re-
separations commission, he reports in
y the natural course on the work of
1the American experts. He also
at their disposal any "infor-
\ nation" he may get either from
Washington or elsewhere.
The arrangement is on the whole
unusual and unprecedented but it
Is due entirely to the character of
campaign launched on Senators
Hiram Johnson and Mccormick
when the idea Of an investigating
commission with American experts
on it was first preached.
Denies Meddling Charge
Mr.. Coolidge has found it necessary
to spread again a denial that the
United States plans further partici-
patton in European affairs. He does
not understand that America is par
ticipating at the moment in Eau
ropes problems. So far as the gov.
eminent is concerned, it is helpful
and collateral influence only in the
settlement of what it regards pri.
marily as a business and economic
problem.
The fall In the value of the French
franc has stimulated the theory that
France now will be more tractable
in considering the economic rather
than the political phases of the rep
arations controversy. While TINS
kind of a development would be well
coined, the depreciation IN french
currency has, on the other hand.
caused some uneasiness. Knowing
the relationship OF all the curren-
cies of Europe to each other, the
fear is growing that a collapse of
foreiSn exchange may bring a cur
tailment in purchases from America
on the part OF Europe and adversely
affect Americas economic situation.
especially as the next residential
campaign approaches.
Conversely. an early settlement OF
yne PREPARATIONS question would be
expected to start foreign exchange
upward, and bring increased buying
from American producers.
The three experts may be techni-
cally unofficial" but they have il
their hands an Influence which
keeps the American government
very close to their work and exceed.
inglv anxious for their success. No
mission, unofficial or official. in re-
cent years has developed so much
real Importance in government cir
cles here.
CoLool C;;rl K,lloJ