Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-08
EUROPE SEES j. S.
NEARING RECOVERY
Tide Has Turned, but Hard
Climb Ahead Is Pre-
diCted.
By C. H. ARCHAMBAULT.

By Cable to The Star.
PARIS, November Europe is in
clined to believe America is on the
verge of recovery. Fearful of diSap-
pointment, however, 10 observes great
caution in expressing this belief. also
qualifying it by an intimation that the
convalescence will be long. But after
scrutinizing every item of evidence re-
ceived this week tending to bear out
the more hopeful view, the verdict is
that there is a foundation for optimism
This verdict has been recorded at
several European points, more particu-
larly in France. where Premier LavalS
Washington visit has given a flip to
American news and wider publicity for
the statements of French travellers re-
turning from the United States.
Some months ago qualified French
men weren't far from believing that
the depression proved the fallibility OF
American industrial, commercial and
financial methods. Briefly put, their
Judgment was American institutions de-
vised for times of prosperity might
not stand adversely One consequence
of the personal contact with the United
States of the correspondents accom-
panying Laval has been to remove that
impression Today not only is there a
general acceptance of American Soli-
dArity, but a growing feeling that the
present time may mark the turn OF the
tide
Revivals Expected.
Undue importance is not attached to
the improving wheat prices or the pick
Up in the steel industry, but neverthe-
less they are considered significant in
dications, with more symptoms of like
character expected in the relatively
near future. The general SoundnesS OF
the trunk having been ascertained, leaf
buds now are anticipated IN increasing
number.
Citroen; the banker, Christian Lazard,
and other returning French observers
all are optimistic regarding the United
States, though they do not conceal the
fact that there are many difficulties
still to Surmount The consensus OF the
situation is that it is much less serious
because the patient is much healthier
than he was two years ago. Then the
patient was threatened with an apo
Hectic stroke; now a little blood-lettlng
nd removal of excess fat have restored
i'm to a normal condition.
Britain Still Menaced.
Naturally the chief concern here is to
know when similar signs are mani
tested in Europe, but it is realized that
lust as the slump took time to extend
from America to Europe, so the roper
cussions of recovery cannot be immedi-
ate. Regarding Britain there is
tendency to discount forecasts OF
rapid recovery. That the British are
sanguine is admittedly an excellent fac
tor, but it cannot transform the trade
balance overnight and the unemploy-
ment problem still menaces, whereas
Americas recovery is facilitated by the
very fact that she avoids doleS.
So far as France is concerned, there
also are signs of returning confidence,
but there is no very discernible move
inent expected until Spring. for there is
an unknown quantity in the parliament
tary elections in April.
RelapseS are expected during tne
process of the recovery One OF the
first is likely to be part or total SOVIET
bankruptcy, with the ruin OF the nVe-
wear plan and harmfn consequences to
Germany. But relapses are inseparanle
from the general process of world de-
flation after world imitation, ana the
weaker perforce go to the wall.