Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-10-25

Subsidiary conventions between
Germany and France and Germany
and Belgium identical except as to
names of contracting parties) pre-
scribe in detail the machinery of the
pacific settlement, whereof per
manent Cancellation commission" is
the most interesting and novel fea-
ture.
The Arbitration treaties" between
Germany and Czechoslovakia and
Germany and Poland are practically
identical in wording with the subsid-
larry conventions mentioned above.
They lack the heavy guarantee OF
the latter. but in the view of Heaven
they should be equally binding.
BY d treaty with Poland. France
engages to support Poland should
Germany. foutinG her arbitration
treaty with the latter, wage unpro-
voked war upon her; Poland recip-
rocates with reference to the Franco
German agreements. France and
Czechoslovakia similarly engage
themselves by treaty.
Like most public documents, the
Locarno instruments are not remark
able for lucidity of expression. But
only by a super-equivocation at which
the father of lies himself might balk,
can n loop-hole of justification be
alleged for aggressive war by Ger
many on France, Belgium, Poland
or Czechoslovakia; or vice versa in
each case.
No concessions to Germany (as to
evacuation of Cologne or this or that
demand by the German nationaliSts)
are embodied in the pact: but a note
addressed to the German delegates by
the non-German delegates gives suf-
ficient assurance that should Ger
many join the league her compare
tive disarmament and her geographic
cal position will be fairly considered
in allotment of military duties under
Article XVI of the covenant. May
1t not moreover plauSibly be urged
that certiflcation of German fulfill
ment Of the disarmament clauses of
the treaty is implied by the pact?
AS to rumored gentlemen's promises
to Germany on the side no doubt
some of the rumorS are authentic.
Evacuation of Cologne in the near
future is expected.
France.-CaillauX boldly confronted
the Radical Socialist Congress at Nice
| and won a respite. The Congress
declared lin principle" for the CAPT
tai levy ia special contribution on
all forms of fortune and capital'D
but agreed to allow CaillauX a reason
able time for developing his new
! plans for averting the threatened
financial crisis. 1t will be recalled
that Caillaux's program on his as
sumption of Office in April called for;
(a) a genuinely balanced budget; ID
special conversion loan to ease the
pressure from the National Defense
bonds falling due; (c) definite arrange
ments as to the foreign debts. Re-
alization of that program to bring
confidence and stability.
What has happened to that pro.
gram? The budget (a) has been
knocked galley-west by the expenses
The conversion loan CO. has realized
only 5000, 100000 francs. whereas a
! minimum Of Is was expected. Moth
ing doing on (c). In April the ex-
change value Of the paper franc
was 1926 to the dollar. Today it is
above %.
What are the new plans of NJ.
Caillaux. A new debt funding offer
to the United States, acceptance of
| which should restore confidence in
France at home and abroad, with
favorable effects on exchange, ETC..
more plausibly a reduction of inter
securities the monies so saved to be
turned into an amortization fund to
care for maturing securities. To be
sure the latter would be sort of a
kind of capital levy; reputation of
sorts.
But if one saves his country, surely
he should be allowed to save face u
If the proposal Of such an expedient
| should please Parliament, the latter
might make no difficulty about sane.
tioning some slight further initiation
| /. e., extension of the limit of note cir
| culation of the Bank of France and
of the limit of advance to the govern
| ment by the bank. This would be
| the third such extension since April
Disclosure of NJ. Caillaux's new
plans cannot be delayed for long The
authorized limits of note circulation
| and Of advances from the bank to the
state are nearly reached, and 10000,
| 000,0 francs Of National Defense
! bonds mature in December.
! Fuller information is much to be
desired concerning Mondays affair in