Evening star., 1924-01-20

litical and social conditions
in Europe have begun to take
definite trends Where doubt has
reigned for years, or ever since the
treaty Of Versailles was signed,
various nations of the old world are
getting about the business of put
ting their respective houses in order.
Coupled with this. there prevails in
the chancelleries Of the various pow
ers a we'll defined conclusion that
international relations cannot and
must not be permitted to continue
as they have, for, in disorganization,
lack of policy and continued rival
ries and jealousies future trouble Is
seen. When a man with the vision
Of Ramsay Macdonald, future prime
minister of England, declares that
something must be done Immediately
and that conditions on the continent
today approach the dangerous ones
Of 1912, there can be no doubt in
the mind of the laymen that some
thing is. about to be done.
During the past month rapid
strides have been taken in crystal
lizing various nationalistic policies.
tinctured, of course, by the expe-
diency of catering somewhat to the
viewpoints Of wartime allies. But
during the past week it truthfully
may be said that the feet of Europe
have been lifted to firmer ground.
If respective governments follow the
pathways of reconstruction and tend
toward a spirit of give and take
all will be we'll.
England's advance is forecast in the
possible assumption of Ramsay Mac
donald to the premiership, he having
allayed uncertainty and doubt in more
conservative circles by his pronunci-
amentoes as to the British govern
ment's duties at home and abroad.
FInancIers Begin Work.
In France the international commit
tee Of financiers cooperating with
the reparations commission has taken
long stride forward in determining
what Germany shall do and not do in
regard to reparations and stabiliza-
ton Of her currency. Gen. Charles NJ.
Dawes made ii plain to the repre-
there should be no "dilly- y-dallying," in
view of the urgency Of continental
affairs and reconstruction. He also
announced that national desires, jeal-
| ousies and antipathies would weigh
for naught in adjudication of Ger
many's financial problems and in
recommendations to be made later to
the reparatfons commission The de-
termined attitude of the American
chairman of the commission, his firm
stand that justice shall be done, and
at the earliest period. has been re-
f1ected in the market places of the old
world. Where two weeks ago there
was much doubt and indecision, today
there is firmer conviction that after
all there will be a settlement of the
reparations problem, admittedly the
one great obstacle TO an early and
successful solution of Europe's politi-
cal and economic woes. Germany re-
! fleets this optimism, and spirit of
optimism prevails. German currency
has been stable for almost an entire
week, a situation unheard of since
( Germany's political and financial sun
7 began to set with the close Of the
war
The French government has at last
I been forced to do what financiers and
economists of the world have urged
as necessary-the stabilization Of
French finances by an increase in
taxes. To close students the in
creased 90 per cent levy will not be
effective, however, unless the French
government shows some disposition
! to assess and then collect vast
! amounts from the so-called war and
reconstruction profiteers of the nation
who, because Of their political aff1li-
ations, have so far escaped levies
against capital in other countries of
Europe. However, it is a step in the
! right direction. Although the franc,
as a result of the French govern
ment's move, ascended somewhat from
J the extremely low levels recorded
early in the week, nevertheless it is
i, admitted that much more must be
done before it recoverS it's tremen-
! dous losses of recent weeks, it selling
1
| in New York. 1t is not believed that
tho franc ever will recover until the
political policies of the government
have been modified, and particularly
the size of the French military forces
| reduced, for it is recognized that the
tremendous military burden France is
! carrying has done and will continue
| to do more damage to the French ex-
chequer than any other thing. With
curtailment of political ambitions of
! the Poincare government, coupled, as
! 1t must be, by reduction in the mill
| tary forces of the nation, will come
/ greater confidence in French finances
| in the marts of the world, with sub
sequent strength to the franc.
| PoIncare still Firm.
| Though the advance OF the franc
caused greater confidence in Frances
| financial position, nevertheless there
must be a spirit OF nervousness, owing
| to the speech of Premier Poincare on
I Friday in the French chamber of
/ deputies A week ago the French
! premier indicated u policy in accord
ance with the desires Of other ma
| tions, looking to an unrestricted set
| tlement with Germany. Poincare, in
his latest utterance, however, de-
! cIared that the work of the financiers
would be restricted to the terms of
the treaty of Versailles and that
| France would demand $4,000, 100000
marks in gold to the account of "a"
and "B'' bonds, leaving the CO. bonds