Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-03
Washington Ticker
BY CLINTON COFFIN,
Associated Press Financial writer.

BY CLINTON COFFIN,
Associated Press Financial Writer.
Today at The Hague representatives
of principal European nations gather to
formulate the final decision on the Ger
man reparationS issue, and any action
taken is bound to have important roper
cussion in American economic and fiscal
situations. Under the plan devised by
Owen D. Young and his committee of
international banking experts, all of
the allied and American war claims
against Germany will be reduced to a
total that can be extinguished by an
annual German payment of about $473,
000,0 900, running for 81 years, with the
machinery of payment to include the
setting up of an international central
bank.
While it seems to be general opinion
in official and banking circles that the
Young plans disposition of all the wars
information debts will be an unqualified
world benefit, there is an obvious war;
ness in the Washington administrative
attitude toward the discussions that
arise from the disposition of British
and French authorities to connect the
payment of German reparationS with
the payments of allied debts to the
United States, a proposition which the
American Government under four presi-
Dental administrations has consistently
opposed. Notwithstanding, one of the
cardinal features of the Young plan
which will probably win approval at
the end of The Hague negotiations is
| an effectual promise of the allied ma
tions to Germany that If the United
States ever RENTS any of its claims
against them, the reparations annuities
will be reduced In somewhat that pro-
| portion.
Latest Treasury figures of foreign
payments coming to the United States
under the war settlements show the
similarity which is being built up be-
tween the totals the United States will
collect and Germany will pay.
This year the United States will get
| about 1886, 100000 from that source
the English payment being $3.50, 900 600
the French about S35, 600. 900 and the
balance coming from smaller countries
which obtained loans. But the terms
of the separate agreements provide for
stepping UP the amounts gradually until
by 1885 the United States will be re-
| ceiving $300,000,000 a year, and by 1875
the annual increment will be in excess
of $400, 100000, which approaches the
total amount Germany will be paying.
Another feature of the Young plar
Is an arrangement by which as much
as $1,000 100000 Of German bonds, in
cooperating prior lien on Preparations
payments, may be offered to world in
vestors, the possible market for large
share being in the United States. But
in spite of these and other points or
which American interests are indi-
| rectly involved, 1t Is safe to say that
the Washington administration will
strictly abstain from any participation
in The Hague gathering and will con-
tinue to regard the conduct of debt
payments as an individual matter with
each country concerned. For 1880 it is
now considered sure that this country
will receive some money from all of the
nations to which it lent during anc
after the war except Russia and Ar
menia, the latter having vanished from
the map as political organization.
When the holiday in congressional
proceedings comes to an end next week
one of the first House committees which
will hold meeting is that on banking
and currency. Chairman MacFadden
and several of the members of that
body have indicated that It's procedure
may lead to an investigation of the
late events in credit, markets and
finance associated with the Wall street
D1Cdh, Willie EIcSlueLL E1OOVeE 3 ANNUAL
message suggested study of the sew
eral proposals to revise national bank
ing law that havN emerged with the
rise of branch and chain banking.
The United States Chamber of Com
merce directors have arranged to test
public opinion in the same field by
submitting a QUESTIONABLE to civic and
trade bodies all over the country that
will bring out views as to the working
of the present Federal Reserve and
banking mechanism. The Senate also
has pending a resolution ordering in
quiry into the field, and it seems I'M
likely that the session will pass with
out some rather extensive delving into
the country's financial and credit ma
chinery.
Explosives experts Of the Federal
Mines Bureau are now attacking one
of the more serious dangers to which
city populations are being subjected by
the progressive increase in use of photo
graphic materials. Last year a trail of
disasters across the country in such
diversified enterprises as hospital labo-
ratories, moving picture studios and
industrial plants proved the necessity
of reconsidering conditions and circum-
stances under which Photographic films
are handled and stored.
DR.. Charles E. Munroe, chief explo-
sives chemist for the bureau, notes in
preliminary report that some types
of Photographic film used for X-ray
and other special work can burn with
out flame, igniting themselves Spon-
taneously at relatively low temperatures.
In this state they give off the poisonous
fumes that cost many lives in the
Cleveland clinic disaster last May. This
characteristic makes almost as much
for fatality risk as does the more COM
monty recognized danger of violent ex-
plosion. Insurance interests have CO.
operated In the studies to determine the
best practices for storing and handling
this class of materials.
Chairman William E. Metzger of the
National Conference on Street and
Highway Safety estimates that traffic
accidents last year meant loss Of
81 900, 100000 to the people of the
United States, which sum. he points
out, is one-thtrd of the total tax budget
of the National Government. One of
the methods of reducing this loss, he
and his associates believe, lies in the
successful application of uniform vehicle
codes and municipal traffic ordinances
that will at least modify the confusion
motorists evince when driving in streets
of strange cities and sometimes in their
own.
There are now Is States which have
the uniform code in whole or part, and
the conference members hope to see the
new year result In further extension