Evening star., 1932-01-10
Britain Leans to Five
Year Debt Moratorium
BY A. G.. GARDINER.

LONDON, January 9.-Prennier Mac
Donald's return this week to Downing
Street from the Highlands indicates an
end to the ominous Christmas calm that
has prevailed the political world. The
mood Of expectant apprehension, deep
ened by an air of uncertainty and ir-
resolution, hangs over all governments,
giving the impression that events, not
men, are now in the saddle.
The Lausanne Conference is supposed
to meet in little more than a week, but
everything is doubtful. The French
wish q postponement and Premier
Laval clearly is not anxious to meet
Premier Macdonald while the grave
condition Of Foreign Minister BRAND
furnishes an ostensible ground for delay.
Meanwhile, the Anglo-French treas
ury discussions have been resumed, but
there Is little expectation that they will
attain an approximation Of their aims.
Britain wants permanent settlement
Of reparations, believing there is no
hope Of a world recovery until the rep
arations problem is finally cleared away.
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The opinion is gaining strength that
q five-year moratorium, with a cut in
reparations annuities to the practicable
limits OF Germany's capacity, say $780,
900, would alone solve the problem.
London regards the French idea of
maximum concession of two-year
moratorium on conditional annuities,
coupled with the inviolability of the
Young plan, as a mere aggraYation of
the situation.
Rather than negotiate these terms,
the conviction is brewing here that it
Is better to resign the attempt to reach
an agreement and adjourn the question
until after the French elections, which
ere expected to show the temper of
provincial France to be more intel
ngent than that of the present cham
oer and the Paris press. In any
case, 1T is obvious that Chancellor
Bruening cannot accept q French
scheme which would seal the fate of
the moderate government In Germany
and the consensus of press opinion Is
that the British government should
refuse to accept the French view and
risk the consequences
The prospects of the Disarmament
Conference, which is to follow the Rep
arations Conference, are equally forbid
ding, and the campaign for postone-
ment comes rather from the advocates
Of disarmament than from its oppo-
nents. The economic crisis has pre-
vented any preparations and in view
Of the Franco-Italian disagreement
which still persists. and the unlikelihood
that France would consent to such 8
reduction Of ornaments as wo>lld en-
able Germany to remain a memoer on
the League Of Nations, little expscte-
ton is entertained that the conference
can achieve success.
The perplexities Of the outlook are
increased by the position Of America.
Every speech made in the American
Congress, says the Week End Review
underlines the folly of expecting CO.
operation between the United States
and the other nations between now and
the presidential election. Even for the
Disarmament Conference President
Hoover's enthusiasm is waning and it
has been pointed out that the Naval
Committee Of the House of Representa-
tives has chosen the eve of the Dis
armament Conference to propose big
new program Of naval construction.
n y
Meanwhile, the storm in India in
creases and, while all agree that the
Indian government will be compelled to
take measures to suppress the assas-
Sination Of oficials and the conspirasy
to make government impossible, the
wisdom Of wholesale arrests is u,les-
toned. On the other hand, evidence is
strong that moderate Indian opinion
approves the viceroy's measures and
that these will hasten the procedure Of
the Round Table Committee Va
lCopyright. 1s32.)