Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-11
u. S. DEBT EXPERTS
AT HEAD OF COUNCIL
Position Makes Certain That
Young viii Be Elected
as Chairman.

BY the Associated Press.
PARIS, February 11.--American
members of the reparations commission
were at the head of the council table
when the experts, who will seek definite
solution of the German war payments
problem, sat down for their first formal
meeting here shortly after pm. today.
The position of the representatives
from the United States made it certain
that Owen d. Young would be elected
permanent chairman of the body. This
had been decided upon at an infor-
NAL meeting Saturday, but its con-
summation was dependent upon the at
titude of President Coolidge, who had
expressed preference that some Euro
pean be chosen for the place. Word
having come that the Washington adj
ministration recognized that the dele
gates themselves should elect their own
chairman this barrier to Mr.. Youngs
selection was removed.
The experts assembled today around a
huge table in the Hotel George v. The
French delegates were at the right of
Mr.. Young, j. P. Morgan and Thomas
w. Lamont. The British representa-
tives were at the left of the Americans.
Next to the British sat the Germans,
while below the French were the Ital-
ians, japanese and Belgians.
German Reporters Present.
The Japanese were the first to arrive,
appearing at the council .'oom promptly
on time at g. o'clock. The others en-
tered few minutes later. Photograph
erS and newspaper men were admitted
and there were many demands for poses
and for action on behalf of news reels
as the delegates took their places. But
all these outsiders were excluded when
Emil MLreau. governor of the Bank Of
France, called the meeting to order.
In the crowd of unofficial observers.
reporters for German newspapers were
conspicuous because of their number.
They came early, too, most of them
arriving at the hotel a full hour before
the meeting was scheduled to begin.
The committee of experts mobilizes
the keenest financial brains of Europe
and America. Its task was to dispose
definitely and permanently of the Vex-
Al6 PlOblCUI VI
The Dawes plan determined the an
nual amounts which Germany vas
capable of paying toward reduction Of
her indebtedness to the allies. Events
proved the accuracy of its authors esti-
mates OF Germany's capacity.
May Eliminate Controversies.
Now it is hoped to complete the plan
by fixing the number and amount of
l.v,(
ultimate end in view of commercialiZing
the debt and of Transforming it from
a political to a commercial obligation
toward host of bondholders spread
over the face of the globe.
Such an operation would eliminate
many of the irritating controversies
which have marked the payments in
the past. Too, it would minimize the
risk of default on the part Of Germany
because in refusing to meet obligations
she would ruin her credit and destroy
her exchange.
Just as the Dawes plan authors went
to work under the leadership of Ameri-
cans, so today was this after conference
setting to work with American thought
and leadership predominating. , asa
American financial leadership and
the tendency to regard the American
delegates as the most neutral of any
here. mostly likely to be influenced by
purely economic principles, have en-
HANGED their position and made GER
tain they play predominating role in
the conferences. .e.
France and Germany Are Extremes.
France and Germany represent thu
two extremes which must be reconciled.
France hopes for nearly ten billion dol
lars from Germany-nearly six bill
lions for reconstruction of Northern
France and four billions to repay war
debts 10 Great Britain and the United
States.
Germany feels it should pay far less
and will predicate whatever concessions
she is willing to make on speedy evacu-
alton of the left bank of the Rhine.
Adjustment of these two extremes is
likely to prove an exceptionally delicate
matter. Spread of the obligations. it
is believed, likely will be over a period
equal to that of those involving the
allied nations and the United States.
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