Evening star., 1926-10-17

by bargain with Germany, perhaps the public
opinion of France would advocate it. Finally,
IL Germany could supply the money, then there
might be end to this permanent nightmare
of the slipping franc. to the enduring agony Of
imitation. to uncertainty and patent peril.
But has at to discriminate mar
rowly between the mere question of transac
tion Of bargain which carries with it certain
clear but limited conditions, and the far-w:der
proposal which has filled the press Of the world
namely. the proposal for Franco German GAL
lance, a combination. political. economic f1nan-
cial, entente on the lines Of that entente be-
tween Britain and France. which was made Is
years ago on the morrow Of the Fashoda crisis
Let us recognize at once in this discussion
that the more ambitious proposal. for all the
apparent intimacy of BRAND and Stresemann
and all the beguiling atmosphere of Geneva.
remains very remote and entirely nebulous
thing. The Anglo French entente not the
work Of a Luncheon it represented months and
years OF careful negOtia ton carried on in
secret and divided into two totally different
pha ses: First the discussion Of the many dis
tinct points Of difference. and second, the as
sembling Of the various proposed agreements
to strike balance between the give and take
Of the whole transaction.
If 1t were conceivable-and 1t Is at least con-.
ceiva ble-that France and Germany might
reach the same kind of liquidation of past ran
COrS ana continuing HtlSdtlOHS tne PIOcesS
would take years. it would demand all sorts OF
expert discussions. economic. financial and po-
litical; it would constitute one of the most In
tricate of all bargains. 1t may come there is
one save concevably the spokesman OF one
of the extreme nationalist groups in either Of
the two nations who would venture to pro-
nounce it to be impossible and to use the word
never
But there is today nothing Of this sort in
existence, no plan. no program, nothing except
the enthusiasm Of NJ. BRAND, based upon his
Geneva experience and the apparent willing
ness Of Dr. Stresemann. The question Of
F'ranco-German entente alliance is not on the
calendar. Newspaper discussion, League OF
Nations enthusiasm, have gone far beyond any
conceivable facts. The whole transformation
of FrancO-German relations at the moment
rests upon no frmer foundation than that Of
the menu Of the lunch at Thoiry.
There remain the second and far more linn.
tied field Can bargain relatively immediate,
be struck the question of French evacuation
and German advance payment? On the sur
face this seems easy, but the facts are hardly
sa satisfying. In the first place, how can Germany
herself provide money? Obviously she cannot,
for the simple reason that she does not possess
it. She turn in railway shares for sale on
the world market That is clear. but to sell any
amount necessary to furnish France with the
minimum Of required cash, resort must he had
to the foreign market, and, above ALL to the
American market.
But would the American market at once alb.
sorb a vast issue Of Germany railway bonds?
Would the United States Government, which
frowns upon all direct loans to France before
the debt settlement is ratified, agree to this in
direct touch? Probably not. Thus in the end
the~question returns to its original position.
The solution which has been sought through
German agreement is not a solution because
Germany alone cannot provide the means.