Evening star., 1925-01-04

Continued from First Page.)
represents for France or colonial ac
quisitions may ultimately mean for
the British Empire. He has no raw
materials, his labor cannot migrate
to America and send back wages. For
him the matter of payment is aca-
demic and, being academic, he treats
it with certain measure of detach-
ment He is in the position of a man
having $50 and owing s5o,0o0,0oo.
War Sacrifices Cited.
But the Belgian situation is equally
battling to the Belgian. He was the
hero of the war and he paid in heroic
proportions Naturally he could lend
no one anything and his sole asset is
the share of German reparations
which was assigned to him. IL he
gets that he can pay his foreign debts
and his domestic reconstruction; GER
tainly the world would not want him
to have less. But if Germany does
not pay he is left with his burden
of reconstruction and he, at least
will never understand why his allies
should hold him up for money pay
Ynents after his great war sacrifice.
Then Russia is "over the hills and
far away; she owes $5,000,000,000 in
wartime debts, four-fifths OF 1t TO
Britain, and every one knows that 1t
Is now a bad debt and likely to re-
main such for a long time, at least;
1t is, at best, not calculable asset.
Russia will not be represented at
the forthcoming conference in Paris,
nor will any large value be attached
10 the respective claims upon her.
Such. roughly, is the general situa-
fion at the moment of a new confer
ence. The people Of each country
have a conception of their own
rights-and wTongs-whtch makes
any real settlement out OF the ques-
tion. We, ourselves, refuse utterly
to discuss the matter generally. we
hold our debts are sacred, hibiscus
sible. our position is absolute, ana
while it remains absolute we must
be counted out of any arrangement
Europe's Views Different
But Europe emphatically does not
ha{sve our debts are sacred. 1t does
not believe we are more entitled TO
rayment than the nations which lost
vast numbers of men and had thslr
territories ravaged. Even the Brit
ish who are paying us, regard our
stand as indefensible alike IN 1uStlce
and in humanity. AS for the conl-
Mental nations, one has only to read
their press to see what they thlnk'
And then there is Germany, which
does not hold herself morally bound
10 nav reparationS and regards the
Dawes plan as impossible OF fulfillment.
Now, in looking the situation over,
there are certain things which may
be taken as automatic: First of all,
France will not pay either Britain
or the United States, save as Ger
many pays her, and, since the value
of German payments can hardly be
determined for number Of years
for
|. discussion of the French payments
within that period is likely to be
wholly academic.
In the second place, neither France
NOR Italy will ever pay Britain any
considerable sum on account or their
wartime borrowing. Neither nation
regards the debt as morally sound
And they will pay Britain nothing
il Germany does not pay them ap-
proximately in full under the Dawes
plan. The maximum that the two
countries might undertake would be the
difference between what Germany
should pay Britain under the Dawes
plan, working at its maximum, and
what Britain is paying the United
States.
British policy is now based, not
upon an expectation of getting the
continent to pay her, but of per-
general conference and share in
an all-roune liquidation. Since we
refuse to do this, Britain can and
will prevent France and italy making
any payment to us by insisting Upon
equal payment to herself. And this
is not only a legal but an unques-
toned right of the British.
Meantime, before two years are
over, 1t is going to be pretty clear
that Germany will not make the pay
ments arranged for in that Dawes
settlement. Every one knows this.
France and Italy are going to get
some coal from Germany on account
of reparations for a long time to
&ome. Belgium under her priority
rights may get her claim liquidated,
as she should, but two years from
now, when we have to face again the
mznasSlsR Of coercing Germany. the