Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-22
Proposed International Bank
Studied as Potential Force

! While there is very little expressed
! opposition to the proposed international
bank, to be used primarily for handling
the German reparations, American
| opinion that 1t might prove an i'm
I portant factor in lettering international
relations Is mixed with feeling in some
quarters that the matter should be ap-
preached with extreme caution, because
of the possibility that its great poten-
tial force in finance might be misused.
"One of the tender spots In the repa-
delphia Evening Bulletin in this scheme,
although it is convinced that 1.-THE es-
Enlistment of such an international
clearing house for PREPARATIONS transac-
tions now appears to be an essential
part of the plan which the commission
headed by the American, Owen D.
Young, Is considering: Undoubtedly a
natural sequence of its successful oper-
ation," continues the Bulletin, would
be It's utilization for the simplification
OF the war debt payments.
1t would not follow necessarily that the
two series of transactions would be
merged because. of such propinqtity
But the possibility suggests itself and it
may be that the advocates of such
merging see their path opening in the
proposed arrangement. Hence the de-
STABILITY of sounding out the United
States. where there Is no backsliding
from its original determination that the
settlement OF its accounts with European
nations for borrowed money and other
war credits Is in no way contingent on
German payments of war reparations."
II the project Is carried out" ac-
cording to the Springfield Republican,
1T may almost rival in importance the
adjustment of the reparations question.
Viewed simply as piece of ma
chinery, the proposed transfer bank is
rather impressive, but it has to be
viewed In SO many other lights that.we
must expect responsible comment to be
at present somewhat guarded. Unques-
tionably its powers. financial and pos
sibly political, would be immense. In
deed. 1t Is suggested that If 1t had been
In existence in 1914 it might have put
enough pressure on bellicoSe govern
ments to prevent the outbreak of the
war. But any power great enough to
accomplish that is great enough to do
many things not necessarily so meri-
torious, and who is to control it and to
what ends become a matter of the
very highest concern to all countries in
the world"
&A tAAS AAdA hStAl6 VI \1CAulail bOAlucs
in connection with the proposed COM
liberalization of the PREPARATIONS debt"
in the opinion of the Chicago Daily
News, the peace bank naturally would
play highly important part. 1t is
even pointed out that In It's own way
the peace bank eventually might aie
the countries which have renounced
war as an instrument Of national
policy. in restraining aggressive govern
ments contemplating a breach OF In
ternational peace. This. Of course. is
speculative, however, and OF no imme-
date practical significance. The. fact
that the experts are discussing the
formation Of such bank encourages
the hope that they will succeed In
settling the difficult issues with which
they have been graphing Gloomy pre-
dictions Of failure for the conference
seem to have been premature and I'M
warranted. though clearly suggested by |
the experts unforeseen delays In ar
irving at substantial agreements"
The comHescla ltzat!on ot QeEmany'k