Evening star., 1931-12-27
Old Worlds Willingness to
Solve Problems Seen Likely
to Influence America.
NATION MAY OBSERVE
PREPARATIONS PARLEY
This Country Has No Such Obliga.
tions and Treats War Debts
as Independent Matters.
BY BYRON PRICE.

tCopyrlsht. 1881, the Associated Press)
Europes willingness to solve her own
;roubles without further temporizing and
delay seems likely now to become the
yardstick which will measure future
American proffers of help.
There is no expectation in informed
circles that the United States will take
part in the proposed reparations con-
ference, or in any general conference
on war debts.
The feeling seems to be that until the
! European nations forget their antago-
nisms and jealousies, and unite on a
program which will restore confidence
among themselves there is nothing for
the United States to confer about.
If, on the other hand, those nations
put their own houses in order, in per-
manent fashion convincing to the
| American people, the possibilities of
further war debt readjustments may be
expected to brighten.
Outline of Situation.
Naturally. these are delicate diplo-
matte subjects about which officials
will not talk. From the best informa-
ton available, however, the situation
may be outlined as follows:
| When President Hoover proposed last
June a years moratorium on all inter
governmental debts, he specifically
stated two purposes.
First, he sought to relieve a world
crisis arising from loss of confidence
and the pressure of international obli-
cations. The burden of reparations was
breaking the back of Germany. Her
creditors in turn owed great sums to the
United States in war debts and smaller
sums one to the other. Altogether, the
amount of such obligations about to
fall due was some $3.50, 100000
Second. the President proposed to
give Europe year in which to adopt
program for united action to end the
depression and restore confidence and
stability Today Europe still is divided
and distressed 1t is hoped. but none
to confidently, that before the year is
out the projected conference or some
other negotiation will produce a con-
structive program.
Troubles Are European.
American officials have stated re-
peatedly that the problems now troubl-
ing European statesmen are almost
| completely European. The depression
in the United States has had no great
effect across the Atlantic. The shocks
have travelled the other way. One
European crisis after another has
caused apprehensive vibrations through
out the economic structure of America
This is demonstrated sharply by figures
on bank Withdrawals and insolvencies
The curve mounted threateningly last
June, just before the moratorium was
announced. 1t took another upwarc
turn when England went off the golc
standard. It's lesser fluctuations check
exactly with minor fittings of the lie
of European stability.
The report of the Young Committee
at Basel shows that the old troubles
go on. Capital still is in fight
There is apprehension everywhere
throughout Europe 1t is proposed tt
hold a conference shortly to seek Z
remedy. The American Congress, after
its members had spent a season back
home, voted without a dissenting voice
against canceling or reducing the wal
debts
The logic of these events puts squarely
up to the European powers the task Of
finding their own solution-and ap.
plying 1t so effectively that American
public opinion will accept it as whole.
hearted effort to restore world stability
| No member of Congress would expect
a make-Shift arrangement easing Ger.
man reparatlonS alone to cause g
change of heart in his constituency.
The reparations problem is one re.
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