Evening star., 1932-12-25
PRESENT BRITISH POLICY
GOES BEYOND WAR DEBTS
London Acts to Avoid "United Front
Against Any Nation, Despite
Association With Paris.

questions were re-opened, then the
English are satisfied that the frozen
credits would be lost forever.
On the other hand, the British see
with great clarity that since the French
investments in Germany are insignf-
sist that reparations payments should
precede payment Of private debts,
America, primarily. but British as we'll.
And they are fully aware that in do
ing this the French would not only
have the law on their side but they
would also have the force. To quarrel
with the French now or to abandon the
French to seek special treatment from
America would then at once compro-
mise the British hopes of recovering the
private loans to Germany.
But it would do more. In fact, the
collapse of Lausanne would inevitably
tinent. Before Lausanne there seemed
little or no hope that the progressive
degeneration in finance, economics and
politics in Central Europe could be ar
rested this side Of the supreme catas-
trophe. Lausanne was pause on the
very brink of the abyss, and it was a
believed impossible. But If Lausanne
is now repudiated, the situation will be
not merely as bad but even worse than
before the accords were made.
And the salvation Of the Lausanne
accords can only be assured by the
preservation of the Anglo-French as
sociation. That association is not, as
many American commentators insist,
based upon common interests in the
matter of debts, SO far as the British
are concerned. On the contrary, the
debts are minor matter In the face Of
the situation in Continental Europe to-
day. But If France felt herself desert
ed by Britain in the debt question, her
counter-moves in European affairs
would be swift and. from the British
point of view, fatal to any present hope
OF European recovery.
American misunderstanding Of the
British policy has its origin in the re-
fusal, particularly in Congress. to rec
ognize or admit that there is world
crisis, that the whole structure of in
ternational trade, commerce and
finance is crumbling and that the pos
sibilities OF disaster are almost limit
less II events continue to move In their
present direction. 1t is as conse-
quence of this belief that American
opinion still sees the debt issue as a
single unrelated problem and expects
European states to come Singly to seek
new adjustments and to make separate
settlements.
See No Awakening.
European opinion is totally different
We on this side of the Atlantic are still
talking about the restoration of pros
perity, while in Europe they are talk
ing of the possibility of saving the ex-
iSting order in the world. Caught be-
tween the European Continent and the
American, the British are bound to
seek to accommodate their policy to
both. They are thus making the final
payment to us. to satisfy American de-
mands, but, on the other hand. they are
keeping in close touch with France to
prevent the larger catastrophe.
But if they had to choose between
breaking with France and with the
United Safes in the present crisis, my
judgment is that they would stand with
France. for the simple reason that CO.
operation between France and Britain
in world affairs is possible, while SINH
lar cooperation with the United States
is out OF the question. Il the United
States were prepared to join Britain
in concerted and combined policy
for economic reconstruction and flnan-
cial restoration in the world. the British
would vastly prefer an American to q
French orientation. But long and Bit
ter experience has taught the British
that such cooperation is impossible,
and American rejection of the peace
treaties was the first stage in British
education. Ultimately the British be-
lieve the United States is going to wake
up to the realities of the world situa-
ton and the Importance to the United
States of world recovery. But today
they discover no sign of such awaken
ing in the United States.
The basis of all British policy is the
obvious necessity to abolish common
fronts" against any nation anywhere.
At Lausanne they sought to and sue
cessfully did dissipate the idea of
common front against Germany. Cur
rent British policy is riveted to the idea
of international cooperation as the
sole method of restoring world prosper
ity. But now they will not and cannot
sacrifice the fruits of recent European
progress toward such objectives mere
ly to obtain special treatment in the
matter of their debt to America For
them the cost of such an undertaking
would exceed all possible benefit.
(Copyright, 1922