Evening star., 1932-06-24
Americans Analyze Efforts u.
To Improve Foreign Finance

The eyes of the world are focused
upon the European conference at Lau-
same, with dispocition in this 'coun-
try to find difficulties in the way OF set
tlement of reparations and debts. An
nouncement by the American Govern
ment that so long as the European gov
ernmentS continue heavy expenditures
for armamentS they need expect no re-
vision of the war debts is seen as a
factor in the discussions by other ma
tionS. The French attack on the Young
plan also has place in the negotia-
tions. The American press reflects q
rigid attitude toward European efforts
to establish new debt policies.
In theory" says the New York Sun,
''the Lausanne conference Is too busy
itself solely with economic questions In
volving intergovernmental debts, but in
ternational economics cannot be sepa-
rated from International politics. I"
The BriandKellogg pact is almost GER
tain to be busted off so as to be pre-
Sented in the discussions.
While reparations have their COM
mercial aspects" according to the Los
Angeles Times, these apply rather mar
rowly. With reparations the United
States has nothing to do directly, not
receiving any part of them, but being
forced to recognize the fact that their
receipt by our debtors would help them
to discharge their obligations to us.
This Nation, however, must continue to
point out that savings in armaments
would equally help these debtors to pay
what they owe without sacrifice"
X X
Chancellor Won Papen. Germany's
principal spokesman, observes the San
Antonio Express, asserted that a mora
torium on private debts might be neces-
Sary. Such German obligations, totaling
about 1856, 100000. largely are held in
this country. Won Papen Is not a
f1nancier, however. Since the Great
warm which he served as a fieId
officer-he has been affiliated with the
Centrist party. That organization
moderate in policies, on the whole-has
been represented in every German fed
eral cabinet since 1919. 1t Is consid-
cred predominantly republican and
never has been narrowly nationalistic.
Before going to Lausanne Won Papen
announced that he would follow q con-
ciliatory course during his chancellor
ship. His attitude doubtless helped
bring about the understanding among
Germany's creditors when the confer
ence began, and also enabled Premier
Herriot Of France to state that repara-
tons and war debts proper form only
one element OF the worlds troubles"
ut Is hard to look forward" says the
Baltimore Evening Sun. ito any hopeful
conclusion from the present conference.
The statesmen who eye each other in
private session today, as well as those
who have previously approached the
question, are not looking principally to
a sensible settlement Of one Of the
worlds most exasperating problems.
They are thinking Of the voters back
home. Ramsay Macdonald, for all his
brave talk, will stand like stone against
anything that might weaken his posi-
ton in London; the representatives OF
France hear only the echoes Of a stri-
dent nationalism; the gentlemen from
Italy are Mussolinis men and nothing
else. As for the United States, 1t isn't
even participating Our policy, as given
by Secretary Stimson, Is to wait until
the conclusion of the conference and
then to deal. not in conference but IN
diyidually, with the various nations"
IF Europe at this conference cour-
ageously attacks an issue that hangs
over Europe like q pail" in the opinion
OF the Providence Bulletin, the result
will be electric everywhere: the express
sion OF q new leadership will renew and
spread confidence. 1t will make still
bolder moves possible, and that Is what
the world needs. But viii 1t be done?
VIII Macdonald furnish this leader
ship? win Herriot7 WIN the Germans
make their case so convincing as to
force action? We cannot say; we can
only hope that Lausanne will be the
turning point. There Is glory greater
than a military leaders after a success
ful battle for the peacetime statesman
who can turn Lausanne into a conquest
for courage and intelligence"