Evening star., 1932-07-09


problem in the Danubian states which
are embarrassed by a huge grain sur
plus, and (5) creation of the machinery
for q world economic conference under
the auspices of the League of Nations.
There was nothing about gentle
mems agreement" linking reparations
with war debts, nor was there any ref
erence to the war guilt" clause OF the
Versailles treaty.
Shortly after the agreement was an
nounced a statement came from Wash
ington saying the United States was
now ready to consider any proposals its
European debtors might care to make
for the reconsideration of war debts
settlements.
The announcement created a pro-
found impression on the European dele
gates and was greeted with expressions
of Joy. Dino Grandi, Italian foreign
minister. hailed it as the best news
since the opening of the conference"
Two Committees Created.
Two committees were created before
the conference adjourned. The first
committee was to deal with non-Ger-
man reparations. M. Theunis of Bel
gium was named its chairman. M.
Bonnet of France was elected chair
man of the second committee, which Is
TO deal with Danubian problems
Sir John Simon and NJ. Germain-
Martin read statements suSpend1ng the
intra European war debts until the
new agreement is ratified by national
parliaments This statement. was made
at the behest of the Italian oelega-
ton. >,
Prime Minister Macdonald said in his
closing address, have not been
punishment to one nation, but bur-
den upon all. l..
"The most self-sustained country In
the vorld-the United StateS-haS
been hit as hard as we.
s'This begins new chapter. We
have closed one book and opened
new one. Agreement has not been
easv. There are too many old memories
which are not easy to uplltt.
Lausanne must put into eHect a
universal framework. Europe cannos
live alone. The arrangements signed
here must have a response elsewhere" !"
He asked the premiers OF the varl-
o,1s countries to go forward during 1887
and 1888 with great courage. Referring
TO the Far East he asked for "a Stralgnt
game of candor."
aOur friends in the Far East" he said,
Gnust show the homage to the League
of Nations as other countries 90
After the conference was ofnclally
closed the delegates drank a toast 10
world prosperity. a..
THE convention does not go into effect
until it is ratified by the ParnanenIS
of the initiating countries which, by an
unwritten agreement, will not take
T1lace until after the United states re-
Considers the question of scaling down
the war debts due her from Europe
VIII Ask U. S. to Farley.
The next step was expected to be
request from these powers to the United
States to join in a parley to revise war
debts.
The seal affixed to the agreement as
the final act of the ceremony was more
than 400 years old. 1t was originally
used on the treaty of fraternity in 1925
between Freibourg and Bern on the
one hand and Lausanne on the other.
In the meantime Chancellor Won
Panen was swamped with telegramS OF
congratulation from Germany. "BraVo!
said one signed by DR.. Hjalmar Schacht,
former head of the Reichsbank and one
of the most prominent German expo
nents of cancellation Of the postwar
obligations.
Several of them came from war vet
Grams, who hailed "the end OF repara-
tons"
EIrPOpF looks To u. S.