Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-29
Report of Bankers Renews
Discussions of Preparations

New interest in German reparations
has been created by the report of the
Wiggin Committee Of Bankers ap-
pointed by the World Bank at Basel
following the London Conference OF
powers, on the need of revision for
German reparations, combined with
the ending of political disputes. There
is some adverse comment on any move
that would change Americas position.
THE committee proves its worth by
promptly telling the world to stop
kidding itself about reparations and
by warning Europe that it must end
its political disputes" says the Newark
Evening News, with the suggestion that
for the past decade they have all
been stalling, hoping against hope that
they would not be compelled to face
the facts and do the sensible thing.
The Baltimore Sun sees evidence of
the importance Of the bankers Sug-
gestion for thorough examination of
the whole structure" in the one-year
moratorium. The Chicago Daily News
feels that the committees observations
ARE pertinent and challenge serious
attention" and that the report has
appealed to the reason Of statesmen,
flnancierS, industrialists and all others
who are searching for ways to end the
existing business depression"
THE sooner the nations face the
facts and govern themselves accord
ingly the better for all humanity" is
the opinion Of the Duluth Herald, while
the Providence Journal voices the hope
that "the nations directly concerned
will regard the bankers, report as a
fair warning that something very con-
- ~ 3V1 he
way Of additional revision Of the repa-
rations schedules before the present
moratorium expires" The Manchester
Union concludes: at has been as
sumed that II Germany we're given
time she could pull out OF her present
financial predlcament, but that as
sumption becomes daily more I'M
tenable."
Attesting to the Importance of "mu-
tual confidence" the New York Times
declares: There is something more
important than bank loans and credits,
more important even than the now
demonstrated willingness of financially
strong countries to come to the aid
of one in difficulties. The wisest and
boldest economic plan cannot succeed
without the backing of clear national
and international sentiment. Thus the
implied appeal is to take advantage
Of the breathing space fortunately as
sured by the German moratorium and
the suspension of payments on the war
debts in order to frame a larger and
conciliatory settlement. to be put into
effect after. the expiration Of the year
of grace"
Undoubtedly there viii be strong
opposition to any move to revise debts
and reparations," thinks the Roches-
ter Times Union. "but it must be re-
membered that these payments should,
and must, be based on the ability of
the nations to pay" The Fort Worth
Star Telegram recognizes that 1.-THE
too-glib repetition by the politicians OF
the formula, No cancellation is re-
sponsible to great degree for the
present state of mind of the public"
and that paper concludes: THE move
ment for reopening and readjustment
of the reparationS and debt payments
question is perfectly natural and
logical consequence of the Hoover
moratorium proposal. The President
presumably was prepared to deal with