Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-29

American opinion, virtually without
dissent, approves the selection Of j.
Pierpont Morgan and Owen D. Young
as members of the next reparations
conference which will advise the Euro
pean powers on solution of their f1nan-
cial problems. There is doubt as to the
practicability Of floating German bonds
In this country now. If German bond
issue is decided upon, but there is no
doubt about the ability of Messrs. Nor
gan and Young to give the nations in
volved the best advice obtainable.
mfr. Morgan" in the Judgment of
the Louisville Courier Journal, will be
in position to advise whether Ameri-
can investors can and should handle a
part Of the transaction. Several years
ago he opposed similar proposal on
the ground that Germany was too
heavily involved and the conditions in
the country were not a sufficient guar
antee to. the investor. This was in 1924.
when the reparations total was reck-
oned in huge and hazy figures His now
reported opposition to the idea of COM
mercializing the nations obligations
causes Berlin no qualms 1t argues
that this was his attitude five years
ago, and times and conditions have
changed. Owen D. Young, an advocate
OF the commercialization idea, may have
as his collaboration this outstanding
authority on the soundness and feast
bility of the plan"
The significance of the names of j.
p. Morgan and Lord Revelstoke in the
list OF experts to revise the Dawes set
Element is emphasized by the Chicago
Daily Tribune, which observes: These
men are not merely bankers with q
bankers knowledge of credit operations
and a bankers familiarity with flnan-
cial transactions involving large fig
ures: they are pre-eminently interna-
tional bankers. Lord RevelStoke is a
partner In the London house of Barring
Brothers. From the fact of their pres
ence on the commission 1t Is fair to
! conclude that the forthcoming settle
| ment, II one Is reached, will be in
essence an international bankers set
Element"
Messrs. Young and Morgan are viewed
| by the Nashville Banner as men who
are in position to have within their per-
sonal knowledge well nigh every ma
terial fact bearing upon the momentous
| problems to be considered" That paper
also remarks that while the United
States has not an immediate interest in
| reparations, the circumstances of the
allied debts and of the postwar heavy
borrowings Of Germany in this country
which are interviewer with reparations
make the meeting of the commission q
matter Of very positive concern both to
this Government and to American capt.
| talists."
Appointment Of Mr.. Morgan has
been received with much satisfaction In
| Germany, where 1t is believed that his
knowledge of international finance will
tend to keep proposals for settlement
on practical basis and within the ca
pacity Of Germany to pay" says ths
Rochester Times Union, while the Phila-
delphia Evening Bulletin thinks that
indeed "the nations involved are fortu.
nate IN securing the cooperation Of
Messrs. Morgan and Young"
"A patriotic impulse" is seen by thf
New York Times behind the acceptance
by Mr.. Morgan and Mr.. Young" ane
the Times believes that everybody
knows that these American experts were
invited because they were Americans
and because American interests, M
matter what Congress and the admins
tration may say, are closely wrapped W
In the whole question" The Providence
Bulletin holds that their inclusion OF
the committee ENSURES minimum O
political interference with the economic
issue involved, guarantees consideration
for the investments made by thousand
of Americans in German enterprise
and promises some sound economic ad
justment of this intricate internationa
problem"
| X X X
| Mr.. Morgan's presence, as appraised
by the Fort Wayne News-Sentinel, fur
nishes guarantee that every problem
of banking or finance which may b.
raised during the discussion will have
courageous and broad visioned con
sheraton" and the Sioux City Tribune
suggests that "it is comforting to fee
that the local team will compare favor