Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-20
By NEGLEY FARSON.
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LONDON, England, July 2o.-The
L. Stimson and Secretary Of the
Treasury Andrew w. Mellon as fully
accredited, responsible American dele
gates to the Seven-power conference
opening in London today is doing more
to advance American good will in
Europe-perhaps to revive willingness
to buy American goodS-than anything
since President Wilson set sail on his
ill-starred mission to play the part OF
world mediator at the Versailles con-
ference.
America is the one nation able now to
get Europe out OF its present nut, says
public opinion here.
In times of emergency America Is
country capable Of the most magnif1-
cent and most noble acts. What Is
needed now Is a spiritual lead and
America can give this-a wave Of
ldealism which will sweep away the
materialism clogging the road to better
times.
why is it not possible for the French
proposal Of five-year political mora
like a five-year debt moratorium?
Under such a proposal the Germans
could agree Tor a time to forget their
desires to regain the Polish corridor,
and in the face Of such relief for Ger
many the HitleriteS and the Hugen-
bergers would be unable to throw Chan
cellor Bruening out, and under such
beneficial auspices of a guaranteed Euro
pean peace a real disarmament confer
ence could be held.
British Wanted Wider Scope.
It Is true that considerable shine is
taken of American participation by the
news from Paris that the French have
already won the first round and have
excluded all talk Of disarmament and
limited the conference strictly to get
ting Germany out Of its present hole
The fact that the Americans also prob
ably welcome such limitation, as 1t pre-
vents discussions of debts, Is causing
disappointment here.
1t is no secret that the British wanted
the conference to have a much wider
scope, going to the roots of the world
trouble, of which debts, reparations,
failure to diSarm and high tariffs are
believed to be the basic causes.
The London Times says that it is not
often or easily that so representative q
gathering Of statesmen is collected in
one place and, saying that it is hard to
believe that their discussions will not 60
OCyOLIo 4AAo11Sld4 1clIC1 1OT
which experts alone would have no difi-
Guilty in producing, hints that converse
tons Of an important nature might and
should take place offstage.
The British, in fact, hope-despite
the fact that the French have apparent
ly succeeded In screwing the lid down
that todayS conference is going to be a
sort of Aladdin's lamp, from which,
once 1t Is rubbed, all sorts of good things
might result.
The basis Of this belief is, perhaps,
largely the presence in the background
OF the conference of the dramatic figure
OF Montagu Norman, governor of the
Bank Of England-probably the ablest
financier in Europe. and the man who
worked out the details of Great Britains
1922 debt-funding agreement with the
United States.
Important Proposals Forecast.
Mr. Norman, I believe, will produce
proposals of epic magnitude before this
conference gets through. 1t is no secret
that it was Mr.. Normans urgent con-
versations with Prime Minister Mac
Donald last Wednesday, night that
the prime minister to send out
ing in London. And not the least of
Mr.. Norman's arguments was the ex-
tremely precarious position of British
finances in case desperate Germany
actually should declare a moratorium.
1t Is even said in this mornings
Daily Herald, semigovernment organ,
that it was seriously discussed that
Great Britain would also have had to
declare moratorium In such a case,
and that never since the fateful days
of August, 1914, when peace or war
hIIv1 iVz ha InI lit
nearer crash and calamity than dur
ing the last seven days"
Yesterdays issue of the Referee,
in remarkable article from its diplo-
matte correspondent, makes the open
declaration that Montagu Norman is
working for no less than direct revision
of the financial clauses of the treaty
of Versailles, challenging statement
which finds no denial in today'S British
press.
In the opinion OF this correspondent,
the figures to watch at this conference
are Montagu Norman, Andrew w. Mel
Ion and DR.. Hjalmar Schadt. DR..
Schacht. DR.. Schacht has just been
appointed financial adviser to the Ger
man government and remains in Ber-
lin, but he Is a gigantic figure in the
background of all German Efforts
and DR.. Schacht is revisionist and anti
Young plan of the strongest sort.
Fourfold Aim Is Seen.
The scope Of the conference, so far
as can be gagged by the proceedings in
Paris, includes:
/. Harmonization of the Hoover
with the Young plan.
g. Granting Germany long term
credits, to be followed by public loan
issue.
3. Financial and economic guaran-
ties required of Germany as security for
such credits and loans.
4. Granting credits to smaller allied
and former enemy States.
Today'S session, opening at pm, in
the prime minister's room in the House
of Commons, is not likely to do more
than Ak the agenda for tomorrow's
session, which will take place in the
cabinet room of the British foreign
Office, with Mr.. Macdonald as chair
man.
America can be said to be represented
by an all-star team. Mr.. Stimson as
foreign minister, with the lessons
learned at last years London Naval
Conference, when the French prevented
a f1ve-power pact fresh in his mind
Secretary Mellon, the financial genius
for the details of the debt
funding of 1926 between France, Italy
and the United States-Gen. Charles
G. Dawes of the Dawes plan, Is hasten
ing across the Atlantic as an EXPERT