Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-15
S. PARKER GILBERT
EXPECTED TO QUIT
Young Financial Diplomats
impending Resignation Gre
ates Problem for Allies.
Special Dispatch to The Star.

1
NEW YORK, January 15.-The Her.
| ald-Tribune, in a dispatch from It's
Washington bureau, stated today that it
is in position to announce authorita
| lively that Parker Gilbert, the Ameri-
can whom the allies selected four years
ago to supervise Germany's war repara-
tons payments intends to resign as soon
as possible after placing his data at the
disposal of the international committee
of experts who are to meet in Paris
next month for final and definite de-
cision on what Germany shall pay each
year and how long she must pay 1t.
Mr.. Gilberts impending resignation
as agent general for reparation pay
ments will create problem for the
allies of such gravity that his decision
was considered yesterday to be as i'm
portant as the recent announcement.
in the Herald Tribune that American
interests in the forthcoming repara-
tons meeting would be represented I'M
officially j. P. Morgan of j. P. Morgan
g. Co, and Owen D. Young, chairman
| of the board of the General Electric
Co, with Thomas Nelson Perkins, law
| yer, of Boston, as alternate.
Position Is Difficult.
| The difficulty of finding a man for
| the position which Mr.. Gilbert now
holds almost caused the rejection Of
the existing reparations plan as 1t was
drafted four years ago by the experts
who met in Paris under the chairman
ship of Charles G. Dawes.
The allies and Germany agreed only
when Owen D. Young who was the
! principal co-ordinator OF conflicting
ideas during the formulation of the
| Dawes plan, consented to administer
| it for the first three months.
| At that time the allies and Germany
made it plain that they doubted the
wisdom of entrusting to any one man
| the control of this great collection
agency which their experts had just
| devised, and upon which the peace anc
security of Europe depended.
Mr.. Young. in consenting to be the
first agent general for reparation pay
ments in Berlin in 1924, stipulated that
he should be allowed to name and
train his successor. His choice was
Mr.. Gilbert
Thirty-two Years Old at Time.
|
| old, but he had been Undersecretary
of the Treasury, in charge of the fiscal
affairs of the United States, at the age
of $50 it was not so much of sur
prise to him as it was to the rest OF
| the world to be invested with authority
as custodian of Germany, to criticize
| her budget, her railroad operations and
| the conduct of her industries, as well
| as to supervise the levying OF certain
| taxes, so that Germany might bear her
share of the cost of the war.
| The administration of the Dawes plan
| by the young agent general for repara-
lions during the last four years and
his periodic reports have made Mr.. Gil
bert one Of the most notable financial
| figures in the world. Part Of the hope
of marketing large issue Of German
reparation bonds has been based on the
belief that Germany would continue its
! payments regularly for long time to
come under his supervision.
| Now the NEST difficult financial post
in the world must be filled again.
Must Be Young Man.
The qualifications required of any
man who would like Mr.. Gilbert's place
are: He must be enough of diplomat
and politician to avoid being misled by
the conflicting persuasions Of Great
Britain, France, Belgium, Italy, Japan
and the minor victorious allies, or by
Germany he must have prestige recog-
nized instantly and equally in all these
countries and must be uniformly known
and respected as an impartial mind. He
| must, nevertheless, be young enough SO
| that he will be able to hold the position
| for about 20 years and must be vigorous,
so that he can stand the strain of act
ing urbanely as head of the greatest
collection agency the world has ever
seen, which Is also an agency for trans
lating Germanys reparations into pay
ments in kind ranging from $4,000, 900
worth of railroad brakes for France to
AN $4,000 astronomical telescope for
Italy. as we'll as engaging Germany to
build ST. 900 900 worth OF floating docks
in Serbia and do $3,500,000 worth of
work on the Portuguese roads-aQ under
his authority as agent general for rep
aration payments.
| The post requires a financier and
economist of commanding ability. who
will produce $500 600, 900 year for the
allies. for nominal salary and no COM
| missions.
Aided on Liberty Loans.
During the last four years, charac-
terized as the TRANSITION period" by the
experts who formulated the Dawes plan,
| Mr. Gilbert has given demonstration
of capacities which have made the
greatest bankers of the United States
eager to have him join their firms. That
is why Mr.. Gilbert has decided to pro-
coed with his career in America
He has wasted no time heretofore.
He was born in Bloomfield, N. j.. in
1892, was graduated from Rutgers Col
lege In 1912 with the highest honors
ever won in that institution, and was
graduated from the Harvard Law
School. class of IS cum laude, and i'm
mediately joined the law firm of Cra-
vath g. Henderson, of counsel for ]. P
Morgan g. Co.
His record as public official dates
buck to 1918, when he was selected by
| r. C. Leffingwell. now a Morgan partner
then Assistant Secretary of the Treas
ury. to assist him as counsel in con-
nection with the Liberty loan flotations
Tn he cIlrcpodaN Mr. Toffinuwa1l