Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-05
Britain Links Moratorium
Plan With Disarmament
BY A. G. GARDINER.

LONDON, July 4.-EnglanQ mas
spent an anxious week awaiting the
result of the negotiations between the
United States and France in regard
to President Hoovers moratorium pro-
posal. But officials here never lost
hope. and acknowledgment was fully
made of the patience which the
American Government has exercised in
its efforts to induce France to accept
the Hoover plan without serious reser-
yations.
All the evidence from financial
sources here goes to strengthen the
conviction Of the gravity Of the Ger
that anything like a breakdown Of the
Hoover proposal would make Ger
many's position more alarming than If
the proposal had never been formu-
lated.
The stimulating effect of the Hoover
offer upon the financial district Of
London largely evaporated this week
under the influence of the delay in
bringing France into full accord with
the scheme, but the event has shown
how eagerly the financial world is
waiting to take advantage Of any rea-
sonable opportunity of escaping from
the present condition Of paralysis.
1Ilc Ol Jtlc ulCIlO-
randum to the French government this
week have been much discussed here,
and British opinion strongly Endorsed
the American rejection of the French
suggestions that the unconditional an
nuities be reloaned, not to the German
government but to German industrial
and financial firms, and that countries
other than Germany should share
those reloans. 1t was pointed out that
these proposals were irrelevant to the
urgent necessities out Of which the
Hoover scheme emerged and would
vitiate and complicate the whole char
acter Of that scheme.
The candor and directness with
which Washington pointed out how
seriously France would be the loser II
the Hoover plan broke down and Ger
many were driven to declare q mora
forum under the Young plan was re-
garded as pQRAiarly calculated to ap-
peal to ting French sense Of realities.
London has had no idea that in the
event Of a breakdown of the Paris
negotiations the Hoover plan would be
strapped, but 1t has been realized here
that its limitation to conditional pay
ments would seriously restrict its flnan-
cial value, and still more its moral
value, by leaving France in a measure
isolated from the movement for Euro
pean reconstruction.
*x
It Is impossible to associate the
present issue from the prospects of the
coming disarmament conference. The
subject was discussed In the House OF
Commons this week, and Premier Mac
Donald, dealing with figures Of post
war ornaments, expressed regret that
the British lead in practical disarma-
ment had not been followed elsewhere.
Taking personnel as the only reliable
test of disarmament, he stated that the
figures Of other countries showed they
had increased in much the same pro-
portion as Britains decreased. Britain.
the premier said, had gone the ex-
IRENE limit in disarmament until the
other countries took similar action.
winston Churchill, indeed. insisted
that the country, in view Of its vast
commitments and its vulnerable food
supplies. had disarmed beyond the
point of safety, and criticism was ex-
the point of view Of negotiation, this
country's policy of disarmament by
example has placed 1t in q most dis
advantageous position for the Geneva
Disarmament Conference.
But Informed opinion Is not unhope-
full of results, especially in view Of the
strong moral position America will
hold as a result Of her present dra-
matte intervention in the affairs Of
FA,rope. The reaction of this inter-
yention upon the attitude of France to
the disarmament parley cannot fail to
be important, and the feeling Is widely
entertained that France will hesitate
to oo into the conference with respon-
sibility for sabotaging the Hoover plan
added to her record on the fiye-power
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