Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-15
England Is Anxious Over
France and Preparations
BY A. G. GARDINER.

LONDON, November 14-This has
been week of pageantry In the metro
polls. For three days running, the
streets have been thronged with massed
crowds assembled to witness, first, the
Lord Mayors Show, next the state
opening Of Parliament by the King,
and third, commemoration of the
Armistice.
The demonstrations have been on a
scale of unprecedented magnitude and
marked by gravity and impreSsiveness
indicative of the anxieties which possess
the public mind. Interest was centered
mainly in the Inauguration of the new
Parliament and the attitude of the
government toward the great problems
Immediately impending = Manchuria,
India, tariffs and the financial crisis
in Germany. The most serious concern
relates to Germany and Premier RAM
say MacDonald's statement at the lord
mayors banquet that the world Is on
the brink of storm added to the de-
preston effect upon the markets of
Germanys disclosed difficulties in meet
ing her obligations due in the next
three months.
The Sensitiveness of the situation is
illustrated by the effect of the report
on Thursday, that France and Germany
gard to short-term credits. The market
swung around to spirit of extravagant
optimism, only to discover later that
the report was based on the most
shadowy foundations and that the
French claim to preference for repara-
tons over commercial debts still was
substantially maintained.
This is the crux of the question,
which threatens to raise a most serious
inf FNf iV1tA
England. The French position is that
If American and English f1nanciers have
been lending money to Germany since
1924, that is no reason why France
should be deprived of her full measure
OF reparations. The English reply Is
that France has received reparations
during these years only because Anglo
American credits have enabled Germany
to pay them and that the withdrawal
OF credits in February would leave Ger
many unable to continue her repara-
tons payments
4 X
France in fact, as the Manchester
Guardian points out, is in danger of
killing the goose that lays her golden
egg. Since the imitation of the old Ger
man currency, reparations have been
paid by borrowings in New York and
London. The British share of repara-
lions and part of the French share have
gone to the United States as payment
OF war debts. The goose. in short, has
been fed by the United States and
Britain. The egg has been shared by
the United States and France. The
United States Is no longer willing and
Britain Is no longer able to feed the
goose. France, however still wants the
egg. Moreover, having the finances of
Europe now in her own hands, France
alone is in a position to feed the goose.
This she apparently Is not prepared to
do. If she persists she will kill the
goose, but IN doing so will lose her egg.
\ X \
In short, the fate of Europe is in the
hands of France. She has PLAYED her
cards skillfully from her shortsighted
point OF view. She has reduced Ger.
many to bankruptcy and has made her.
self military and financial dictator of
Europe. BY pleading poverty, she Sc
cured the remission of ST 500 900 600
OF debts to Britain and equally gener-
Gus concessions from America. Thames
to their liberality in keeping the goose
alive, France has also had her repzra-
tons. Now the exploitation of her bene-
factors is at an end. The United States
will do no more and Britain can do
no more.
France must choose between an ut
terly ruined Germany, chained down.
as the Manchester Guardian saws. to
poverty for fifty years, and a Germany
capable OF paying her reparations. One
thing Is certain. The British govern
ment will insist on the priority of Short
term credits as the only guarantee
against the universal collapse of Gem
trail European credit.
(Copyright, 1917