Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-26
CREDIT OF FRANCE
BOUND UP IN PACT
Finance Minister Insists Upon
Carrying Out Agreement
With Allies.
BY JOHN F. SINCLAIR.
| Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, July 26.-M. Cheron,
French minister OF finance, has firm
grasp on the worlds finances. He real
ICES that the credit of France Is in
danger through ratifying the debt
agreement with conditions.
He wants the French Senate to ratify
the Mellon Berenger agreement without
qualifications of any kind. AS minister
of finance he also is the dispenser OF
public credit-the guardian, the trustee
for the government.
THE credit of the country depends
on the respect for its signature" says
this finance minister. Even II the
agreements constituted a bad bargain.
the signature of France must be
respected"
M Cheron likewise sees that there
will be a real strain on France should
she be forced to pay the $407, 5000
due in August for the war stock pay
ments to the United States. She would
also be compelled to pay similar
amount to Great Britain.
What would be the result? The
finance minister says That II Wouio
cause very grave situation on Lhe
Bourse. the French stock exchange. NOT
to mention the English stock exchange!
The answer-ratify the treaty!
American business men, with rev
LAWYERS and journalists scattered among
then-a Jolly party of 92-have arrived
bv special train IN Moscow for a month
to study conditions in the Soviet
republic.
consideration. The West European
Chamber of Commerce, which enter
tanned the British trade delegation
some time ago, is supervising and en-
Pertaining the American visitors.
For weeks in advance, interviews with
rowerful Soviet leaders in both the
POLITICAL and industrial fields have been
planned and arrangements to see
factories, electrical power stations,
farming activities and places OF cultural
interest all have been completely
worked out.
Soviet Russia can probably live with
I'm itself more successfully than any other
nation in Europe. She is a rural
country dealing largely in raw products.
But she, too, has come to realize the
Importance of international trade In
building up her activities within the
nation.
miSsar Kaufman says: Soviet import
requirements grow every year. and from
this standpoint the Soviet market repre-
sents special interests for country
with a developing industrial export.
The report of the Americans upon
their return will be awaited with con-
siderable interest.
When Germany rushed pell-mell over
Belgium in 1914, and stayed there four
wears. she took all the money OF the
Belgian banks and substituted the
German mark
When the war ended the German
marks were found worthless. and as a
consequence Belgium found her own
currency virtually without value.
Belgium demanded settlement from
Germany Her original claim was for
$1,626, 100000, an unthinkable sum
fixed for the purpose of regulation.
Germany agreed to adjust the claim.
The two nations have met and the
claim has been reduced and agreed to
at $123,000,000. Quite a shrinkage!
It will be paid In 81 annuities. begin
ming March 81. 1880. and averaging
$3,910,536 annually.
Now Belgium must discuss with
Germany the return of German prop
erty in Belgium which was conf1scated
after the war, but is not yet liquidated.
When Glenn Frank, president of the
University of Wisconsin, said recently
that if one desired independence of
thought and action he must first at
tain a natural independence, the youth
full head of this university began an
age-old discussion in educational circles.
Who are the leaders today? Who
commands the widest following? Whose
influence moves in the widest circle?
Surely not one on the border line be-
tween poverty and plenty-who has
not quite enough to support his family
or pay his bills. He is distracted, wor-
ried, harassed. No one can do his
best work when he is in such condition.
1t used to be considered sacrilege to
talk about being on an economically
sound basis-on a basis where one
could observe candidly and carefully
without the feeling that he had lost his
soul in the materialism of the day. Not
70 today. People do not look at it the
same way.
Few men have been able to live on
bread and water and continue to be
independent" says the Wisconsin edu-
Gator.
A wise, common sense statement!
(Copyr!ght, 1929. by North American News
paper Alltancel