San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-04-28
AN0THERL|TTLE
.!J0b FOR DAWES
AND COMMIT TEE
Europe Would Like to
b Have Them Settle 4
E@> Debts to u. S.
WOULD FOLLOW THEM
See Principles for Settle
ment Outlined in
e. Report.
WOULD FOLLOW THEM
BY WILLIAM BIRD.

Copyright. 1924. by Consoi. Press Assn.
Paris, April 2S.-Be,icf is widely
expressed throughout Europe today
that, granted final acceptance of the
Dawes report, the next important
peace move on the calendar is a gen.
eral settlement of the thorny problem
OF international war debts.
This means principally the question
of Allied debts to America, which
amount ia nearly ten billion dollars.
plus five years interest, Although
the United States government has not
varied from its stand that the debts
must be paid in cash with interest and
President Coolidge only few days
ago reiterated the refusal to throw
them into any world settlement pot.
nevertheless there is a feeling almost
everywhere in Europe that the year
1874 will see serious beginning to-
ward solution of the problem.
Debts Not Discussed.
This confidence appears to be built
largely on the Dawes report which
while ii does not mention these debts
Tin fact the experts committee was
barred from discussing them outlined
conditions under which large interna-
tional payments are possible. And al
though the American government itself
was not a party to the committees
findings, much significance is attached
to the fact that President Coolidge
promptly endorsed the report and
urged its acceptance, seeming to indi-
cate that he approved its basic prin-
ciples.
These principles. as applied to in
ternatiOnal payments, are:
First. any solvent country can pay
its debts if the rest of the world will
allow it to. But those debts may be
paid only on one way, namely, in
goods.
Second. payments may be made d.
rectly, if such goods are produced
wholly within the country. without an
evil effect upon exchange rates. An
example is Germany's coal deliveries
to France.
Third. il payment is demanded in
cash. then goods must be sold in ex-
cess of goods imported. Otherwise an
attempt to transfer money across the
border will result in upsetting the ex-
change rates.
Must Buy Goods.
These principles, which are set down
by the Dawes report as fixed and UNI
alterable. are held by Europeans to
amply with equal force to German rep
arations and to inter-allied debts.
Therefore, if America accept the prin-
ciples as applied to PREPARATIONS. she
must also. admit their force in regard
TO the war debts. What it all comes
down to is that Europe will pay Amer
lea il American will buy Europe's
goods. Otherwise she won't, because
she can't.
s I'VE should be perfectly glad to
have the same expert committee tackle
the war debt question and pledge our
support to its decision in advance"
said an official to the writer today.
And that sums up the attitude of the
other countries as well.
Meanwhile, putting in operation OF
the Dawes reparation report is hang
ing fire for several reasons. First,
uncertainty about the German cleo
tons next Sunday elections the follow
ing week second. the unwillingness
of France to suspend economic ex-
ploitation of the Ruhr until she gets
definite guarantees in exchange.
Two Moves Possible.
The guarantees may take one of two
forms: Either a definite agreement
with England for cooperative sane
tions in case Germany fails to execute
the Dawes program as outlined. or an
economic alliance with Germany.
England is exceedingly hesitant
about committing herself to any defin-
ite line of future action and is now
engaged in flirting with Moscow. so
it would not be surprising TO see the
second of these alternatives prevail.
A nationalist success in next Sundays
German elections at first glance might
seem to make such a combination i'm