Evening star., 1924-09-27

In the wake of the initiation of the
Dawes plan comes proposition for
the funding of Frances war debt TO
the United States. "A provision un-
der which the United States Govern
ment would invest one-half of the an
nual sum received from France in
bonds of private French industries.
railroads, public utility companies,
etc." causes the Pittsburgh Gazette
Times to ask has our Government
the constitutional authority to invest
public funds in private foreign enter
prises?" This question is raised by
the unofficial plan of Edward n. Hur-
ley, former chairman of tle Shipping
Board. Whether the particular plan
is given serious consideration or not,
the fact that the proposal is made
with the sanction of certain inffuen-
tial French officials leads the Ameri-
can press to believe that France is
reaching a point where it is willing
to discuss a settlement on a business
basis.
This change in the attitude of the
French government is heartily well
coined by editors throughout America.
Referring to it as IAN enormous ad-
vance over the political and economic
psychology that dominated the French
policy hardly more than a year ago.,
the Baltimore Sun interprets 1t as
almost an avowal that business has
triumphed over the politicians, the
jingoes and the militarists of their
country" and 'if a reparation settle
ment can be followed up by a settle
ment of all the interallied debts, then
;, Of 10
nomic restoration" The Hartford
Times expects vigorous objection TO
the Hurley plan, because lit would
give this country a far greater inter-
est than any political ENHANCEMENT
could in the preservation OF the pros
perity of such industry, for we can
not tell where the defense of our in
vestments might not lead US" How
ever, 1.-The plan can be defended upon
the ground that some settlement Is
better than no settlement-it may be
that is the best settlement that can
be made" The New York World
grants that easy terms are essential,
but cit is very doubtful wisdom for
the United Satisfying this Govern
ment up in foreign industrial enter
prises It would be better to cut the
proposed interest charge than to set
up so entangling a scheme
X Y
While the Newark News also notes
objections, it finds among the ad-
vantages the expansion Of Frances s
industries which should have the
automatic effect Of making her
stronger trading nation, in a better
position to buy and sell in our mar
kets," and "by sending US only SO per
cent of the installments we would be
saved from a further deluge OF the
gold with which we are now over
supplied." The fact that England
will be the innocent bystander, the
Cleveland Plain Dealer, however, sug-
eests "is going to make the debt
negotiations exceedingly delicate, for
Enrland will take offense IL France
gets out easier than she did, and
France will almost certainly take
offense II she is held to the terms
of the British agreement" For this
reason, the Louisville Courier-Jour-
nal feels cit is up to Washington to
eoualize the burden on the different
countries or answer the protests
against favorable treatment to par
ticular debtors" If Herriot expects
easier terms than those given to
England, the Spokane Spokesman
Review insists "he might as we'll dis
miss them, for France is as able to
nay its debt as Great Britain" Fur
thermore, III our Government were
generous to the French government