Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-23
CREDIT EXTENSION EXTENSION
WON BY GERMANY
Farley Also Acts to Restore
Confidence in Final SeS-
sion at London.
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be of greatest importance in helping
Germany"
Chancellor Bruening hurried out Of
the foreign offlce.' pausing only long
enough to say that he had TO leave
right away.
Holding Conference Tonight.
The chancellor and Foreign Minister
Curtius are to have q private talk
tonight with Secretaries Stimson and
Mellon, who will be their guests at
dinner. 1t was explained the CONVERSE
lions to be held in Berlin with Mr..
Macdonald and Foreign Secretary
Henderson will be postponed until Mon
DAY because DR.. Bruening wants to
show the American representatives
conditions in Germany first.
ut looks pretty bad" one Of the
financial experts with the German
delegation said. Help in the form of
cash is not forthcoming and the chan
cellor's position will be very difficult
If Mr.. Stimson will see things in a
different light when he gets to
Germany"
Mr.. Stimson himself told a CORE
spondent as he left the foreign office
that he was thoroughly satisfied"
Dino Grandi, the Italian foreign min
lister. said, Il am very happy over the
result"
Premier Laval of France, in one of
the speeches which wound up the con-
ference, congratulated the delegates on
their frankness and spirit of co-opera-
ton, with particular compliments for
the assistance given by Mr.. Stimson
and Mr.. Mellon.
Il am very well satisfied with the re-
suit of this meeting" he said.
Chancellor Bruening in his speech
expressed appreciation for these efforts
to aid his country and thanked the
Americans especially.
Halls Negotiations.
Mr. StimSon emphasized the Signifl-
CAME OF the Franco-G German converse
lions at Paris last week and described
the negotiations III which he played SO
important part as great event which
would re-establiSh world confidence.
Dino Grandi for Italy. Ambas Sador
Matsudaira of Japan. and Premier Rem
kin of Belgium expressed similar SEN
timents. Prime Minister Macdonald
thanked the delegates all round.
In authoritative conference circles to-
day 1t was said the confereeS hoped the
four measures approved would enable
Germany to pass through the present
money crisis, and, meanwhile, to IN
crease faith in the Reich'S credits. SO
that when the 80 days expire long-term
credits sufficient for the nations need
might be possible.
The resolutions fell short of what
Germany hoped to get when Chancellor
Bruening and Foreign Minister CurtiuS
came to London Monday night for the
conference.
Their hope then was that they would
leave with q long term credit of about
$375 10000 to bolster their economic
system and with a renewal OF existing
short-term credits.
Told Loan Was Impossible.
But, at a dinner conference with
Prime Minister Macdonald and Foreign
Secretary Henderson, they were per-
suaded that such a loan was impossible
under present conditions, and they
withdrew their request.
The American position was that
United States banks would give finan-
cial aid to Germany, but only IL the
banks OF all the other nations shared
the burden Otherwise, the problem
was to stop the flight of foreign credits
from the Reich, render necessary i'm
mediate aid and await improvement in
the situation.
This idea was held also by the Brit
ish and, according to Secretary of State
Stimson was put before the confer
ence in its first form by Mr.. Macdonald
and then 1t evolved gradually through