Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-14
Our Reparations Spokesman.

IA
happier choices than the selection of
Messrs. Owen D. Young and j. Pierpont
Morgan to be the American representa-
tives on the allied-German commission
which is about to come to grips with
the reparations problem. The name Of
their alternate, Thomas Nelson Perkins
of Boston, is less we'll known, but he is
a lawyer and f1nancier of distinction
and for two years was the unofficial
American member of the reparations
commission at Paris. The citizens Of
the United States" whom the European
governments have invited to advise with
them. are of. caliber which insures
Germany and her creditors that the
best America has in the way of expert
counsel will be at their disposal.
On our own part, there is equal cause
for congratulation that men of the type
of Messrs. Young. Morgan and Perkins
are to be this country's spokesman. The
United States is only secondarily inter-
ested in German reparations. The
merest fragment Of them-2A per
cents allocated to us. Even that sum
is not indemnity for war damages. but
remuneration for the cost Of our tenn
porary army Of occupation on the Rhine.
But American concern in the tangled
issue Of reparations far outstrips in i'm
portance the bagatelle Germany is OBJ
ligated to pay us.
There is growing indication that the
revision of the Dawes plan, the primary
purpose Of the expert inquiry in which
the American advisers are to partici-
pate, contemplates the hotation Of a
huge German bond issue. The sum Of
$4,000, 100000 Is commonly mentioned.
World financial conditions are such
that no issue of that magnitude could
be seriously considered without envisag-
ing the American money market as the
one in which the lions share Of the
fiotation would have to be made. It is
promptly suggested that Mr.. Morgan's
selection as one Of the American adj
visers was with the view of "facilitat-
ing" the marketing Of new German
reparation bonds In this country.
Our interest In reparation develop
ments does not end with the possibility
that American investors may be asked
to finance Dawes plan revision. The
European nations which owe the United
Cfota hA Nf
$4,000, 100000 resolutely cling to the
theory that these debts and German
reparations are interlocking PROPOSE
tions. Allied spokesman. of whom M
Poincare is the outstanding type, con-
tend quite bluntly that if Germany's
reparation debt is to be revised down.
ward allied Europe's obligations to the
United States must be correSpondingly
reduced.
To date, the attitude Of the Coolidge
administration has not been such as to
encourage either of the European hopes
just alluded to. The Washington Gov
eminent is not enarnored Of the idea of
transferring the burden Of PREPARATIONS
from German shoulders to those of
American investors, nor IS It willing to
concede any relationship between repa-
rations and war debts.
Messrs. Young, Morgan and Perkins
will serve unoficially, as. far. as their
own government is concerned. But their
lines of communication with the White
House, the State Department and the
Treasury are altogether likely to De kept
In a constant state of repair. ID Is not
probable that the American experts will
identify themselves with any schemes
for Dawes plan revision which are not
assured Of the support Of the United
States Government. .-.,.s >.