Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-22

| debt by an international bond issue,
with German railways and industries
as security. has hardly been preached"
says the Louisville Courier journal,
but the bank scheme envisages the
whole widespread and intricate busi-
| ness. That 1t might prove a Franken-
stein monster, huge combine thas
might control world trade by its pos
stble power over exchange. is a con-
sideration that may be summarily dis
missed. The experts of seven nations
may be expected to see to It that the
vast financial machine would work for
the best interests of all and not be
a potential menace to any,"
Favorable comment comes from the
New York Sun In the statement: Be
il-5 strictly non-political In character, 1t
would not be susceptible to the influ-
ence OF any individual nation or of q
polifical organization such as the
League OF Nations. 1t would be q purely
financial institution, operated In accord
ance with sound business principles.
From the viewpoint of American inter-
ests, its successful functioning would be
an added assurance of the continued
payment to the United States of the
service of war debts owed to us by Eu-
rope. But the broad aspects of the mat
ter remain the most interesting. and the
experts are to be congratulated upon
having mad the foresight to envisage, In
planning the indispensable new repara-
tons machinery. an institution that can
perform broader service to the world"
II a group Of nations begins to work
together on anything so important as
nnanceS," declares the Milwaukee
Journal, at will learn to work on other
things. Such an international bank as
Mr.. Young proposes. beginning in linz
tied way as the United States began In
limited way. each nation chary of CEN
tralized power and distrustful of other
nations, as the States were Jealous Of
Federal power and distrustful of each
other, will become bulwark against
war. It will be worth any dozen treaties.
1t will be an active. working reminder
of the value of peace"
The tremendous power which is seen
in the proposed bank suggests to the
waterbury Republican cause for obiec-
tons along two lines-"that 1t would
possess undue influence upon govern
mental fiscal policies the world over, and
that 1t would almost inevitably exert
such influence in the interests Of big
business. Whether the existence Of such
an institution would be an unmixed
blessing for humanity is an open ques-
tion." concludes that paper.
Objections that might be made from
both sides of the water are suggested
by the Brooklyn Daily Eagle in these
words: From the American point Of
view 1t might be objected that It unifies
European finance and places it In a po-
sition Of potential opposition to the
power Of the United States.
From the French point of view 1t has
already been urged that the reverse will
be true-that Americas financial inter-
ests are bound to dominate such bank
to Europe,s disadvantage. Both Of these
objections will be overcome In the or.
Of the bank. Its capitaliza-
ton. its directorate, its statutes pre-
scribing and regulating its functions viii
take them into account. The purpose
Of the experts In talking about the bank /
before deciding how 1t Is TO be organized
was to smoke out the political chjee~
ions that Yia haYe II b net" .----.-S