Evening Star Newspaper, July 27, 1924, Page 41

( : Dlvergent National Issues Causes Allies to Hit Snag i . .. ana Belgi (Continy cern, the F but also ench, totally different from Money Ix One Exsential. the putting the but to essenti w immediate Dawes plan put it into problem into opera- operation it loan for Germany. frles, cven Germany, we. it v that »t many provisions tions in order that she might also lay hands upon the loans and thus est~, her own finane E including the the all Germany te obvious was willing to Germany and unpopular morass. srmans. ential condition should get money abroad, and in practice it could only come from London and > York But once Germa had the what would situation be Ger no longer = out the gned since he a Indeed he would nov: on in (he world for payments to the ery that that moy The have any the an would n for carry had nemely, the wor have cole Fr. s on aeccount of repara- Must Protect Loans. \s for the extent British, and the Americans—that bankers who had e ted . first an, would b Th it continued to pay i eir loans they would wed it to a eer- tain ticip loan— their v pressing protect their concern loans. many not be nce world be nd Pelgiuni to comfel the the reparatic the Dawes plan, would inevitgbly ability ts on the loan coercive b the s would sed seek Germans payments such ercion et Germ: rest pa r. sinee ny's to car w the trade, More- steps would tish and them with n, intere: any on the loans, 4 payment on reparations would be this: gium would press for some to pay and cotreive measures to compel German | €al overturn in F compliance with the Dawes report and would be little interested in the effect of such measures upon the Brit- ish and American holders of the loan, the British and American bondholders, and the Eritish govern- the Brit be little concer: £ the reparatio ck of *d with the contract and reluctant to admit German Default Means Appeal. France that they would, Briti & new if at and tai then, » repar; ppeal to their sartners—that s, Id be held. But \ference the British held that German fnevitable, not not to design, and E finding the the Italians o 1, due to inabili the British held this view and supported by the unoffic ican then what could it we Am, member, the French and Belgians do? As things stand, if only the four nations were concerned the French would suffice e was to get an international » far all coun- at one, and onerous and condi- conceded | was contract o ng ch and to | Ger- | © erest unon | & con- | Ged | commis s | ¢ her | all power to act con- | France h bondholders, | ms, | against the British and Italians, since the French presiding officer has the casting vote in the Reparations Com- misgion. " But it was to deprive the French of this control that all Brit policy aimed at. The British argued, with justice, that it would be impos- sible to raise money, that British bankers would not undertake to find it, if F to in declare Germany upset the whole German injure, if mot_destroy, the basis of the loans. See Grip - Lost. But “the Fie | accuracy ana French and the Belg control of the sit never again have any reme serted that the * | cepting the Daw | the loans, ~eplied, with hat once ns had t they equal ion 3 in order to get and, havitg got | reparations payments. They emphasized the fact that then th Americans would have no concern for interested in reparations and only | the repayment of the thus accept Geriman & | ten to German ple and lis- France was perfectly willing to listen to all demands for the evacuation of *he Ruhr, although ed that evacuation chould accompany German per not precede it e was ing to agree to allied dis- ding Germany: welcomed member of the reparations ion who should act as agent- of the Dawes plan, but by con- he insisted that there should be ) eement in advance as to what should itute default on the part of ¢ he insi any she American o | Benera |t | con r many in case | totany of such default. And she unwilling “to surrender definitely alone in case her allies failed her again, as she felt Britain had | tailed her in the period just preceding | the R@thr occupation Repudiation of Extremes. | Now. it ix of utmost importantee to | perceive the line taken by the French | representatives, by Herriot and | associates, in the light of French | public sentiment. The recent politi- nce had certain quite obvious meanings: it did in- dicate a repudiation of the extreme circumstances both in the program of Poincare himself and in the ac- tions of some of his subordinates. his | 1t was a | France rejecte of perma- | nent occupation of the Ruhr or any ! attempt to destroy German unity by of the Rhine. It represented the re- pudiation of the as contrasted with a punitive affair. What the would appe ! posed | French people meant, it r, was that they were op- to attempt to | Rh de the Ruhr which might be into a military and even political oc- On’ the other hand, the land republics or even to un- | cupation al | French people did nothing and gave | ign of a willingness to do any- | no thing which would sacrifice, their Germany for reparations payments. They r. Rubr or a much les claim upon ance were to retain the power default and then to walk back. into the Ruhr and economic and financial establishment and thus underlying the the Inanm then he would repudiate or evaim the British and the and would punitive steps | an | and what steps should be taken| backing Separatists on the left bank | Ruhr as a political | 3 interfere | with the unity of Germany, to create | ake any economle exploitation of | extended | other method of collection claims. Looked to Guarantees. of t Nor ‘was there the smallest modi-' fication of the French attituge in the matter of secirity and of interallicd debts. On the contrary, as the mass of the French voters conceded that the occupation of German territory must’ not endure beyond ‘the time whep such occupation® contributed to the collection of repardtions, the looked with more e: estness into the matter of guarantees, and in the n: ture of things looked with more ex: pectation toward the British course. Now it is manifest 'that in the present temper of Britain and in, the state of mind of his immediate politi- al followin MacDonald cannot off. France any hard and fast guarantee hased @pon a contract which might be regarded as an alliance. The best he can do is to find some way through the league of nations of binding the British government to come to support of any nation wilfully wantonly attacked, as France w 1914, although it Is to be recalled that the present Prime Minister of Br opposed the support of France i Herriot has indicated that he will fmuah to say that fairly cold and not it feaves Erance a little anxious. Important. As to the matter of the inte debts, every one wanted America London, even if we were therc officially. but it was known in vance that we would never attend any conference where the question of debts was on the agenda. Therefore the British left this matter out and the French had necessarily to aceept this on, they American presence. but the omission of the auestions of s and debts made the conference, the French point of danger- ously restricted You could perhaps as French might consent to substantial acrifices the matter of the rations—sacrifices, at least in siderable part, like what were asked of them in London—provided they were offered a British guarantee of security against German attack and a British scaling down or cancellation of the French debt to Britain, but the Debts Inxue alli at un- ad- desired doubdle curi from or since view, | | the | and s in| [ accept this method, but it is not too | sume that the |t | mar [ m | | areiin London con d for French sacrifices while- eliminating -all dis- cussion of those areas within which France might. obtain .compensating concessions. ‘Sce Curb on-Aetlo; From the French point of view they were asked In London to agree that it should be fog Britain and America, the latter acting unofficially through the agents-general, to decide wheth- er Germany were actually in default, although neither country was inter- ested in German reparations pay- ments and both would be in German loan repayments; that even in event |61 a decision that Germany was in de- fault, there should be no allied ac- tion beyond the Rhine—that is, in the Ruhr—and that France should pledge herself in advance against any inde- pendent action, such as she had taken in the Ruhr. From the again, such the deliberate to nship point of view, represenied of British what British Leen unable to about, and thus tie Frencn 1d insure the restoration of cconomically without re- “rench réhabilitation. - You that at this point the de- % factor would be interna- contide or lack of confi- there does not exist as France and Great Britain as would be French concessions ttempt mplish had finance co state bring must termini tional dence, see and between any such confidence re- d to float such a policy. Liritish so distrust France that the French would again invade Germany without re- gard to the rightx of Lritish bond- Iders if French political interests scemed to require such an action. The French the British would to German oy program in sh bondholders s British trade and And both these convie- zht back to the traditional of each dther which has Anglo-French ions for than four centuric erexts Are Different too that British and French interests are totally different The rehabilitation of Germany is for the British a necessafy detail in the restoration of British economic pros- qu Th beiieve as to believe t their ey, th vet Bri close N pr » ins Dawes order to and to re patent, Monday — Begins | | cuty perity, and such German restoration carries with it no political or military peril. Therefore Britain is ready to lend. Germany money in order to bring about this restoration. But for France the restoration of Germany is at best a deadly risk, to which France will consent only becduse it is & necessary detall to the payment by Germany to France of the repara- tions sums without which' France is hopelesily bankrupt. If France is not to get reparations then, not only is she indifferent to the question of German economic restora- tion, since she will not benefit there- by, but pelitically she must prevent 1t becayge it constitutes a very great menace to her, a menace only toler- able if It is accompanied with the reparations payments which will ren- der France solvent, Bwut if Germany repays principal apd intarest on -her loans and In achleving economic prosperity advantages Britain there- by, then the British are not mate- rially concerned because Germany evades or even repudiates her pay- ments of reparations to France. British Seek Control. But quite obviously if Britain and France cannot come to terms and Germany does not accept those terms, German economic restoration will not take place. France's fiscal collapse may arrive and the recovery of Brit- ish trade will be postponed indefi- nitely. And that is precisely why British finance is undertaking to con- trol the situation and coerce all hands into accepting a solution satis- f; ory as to finance, but wholly un- acceptable to France. “We shall have to find the money and, therefore, we must be allowed to dictate the terms.” This Is the not wholly unreasonable assertion of British finance, but the main diffi- lies in the fact that the terms might easily seem too onerous to the French. ow 1 am writing this article in advance of the ctual adjournment of the London conference, and ob ously I have no desire to forecast re sults, but what it seems to me must be borne in mind without regard to any real or nominal agreement which v be reached, is the fact that any solution which can In any degree be accepted as final must reconcile the insure a5 two national interests the Winter styles the Sale of 150 New Fur Coats French against any British sacrifice of French reparations to Britls] trade and loans and insure the Brit- ish bondholders against any merely political French intervention in Ger- man affairs individually. Distrust Hurts Parley. The unfavorable circumstance the dominant distrust of motives on both sides of the channel; the hopeful detal] is the fundamental good faith which it seems to me underlies the actions of both Herriot and Mac- Donald and the vital interest both countries have in. arranging affairs. Today Herriot is bound by an opposi- tion in the French Parliament which might easily become the majority it he made concessions which seemed to lessen, French chances of getting reparations, and MacDonald is con- trolled by the advice of financial Lon- don, which must furnish the monev. and therefore reserves the right to dictato the terms. All of which is another way of saying that Herriot and MacDonald ere dominated ty their own national sentiments, which are based on very obvious and wholly material interests. But the present conflict is material, after all. Inflamed national egos have been pretty generally suppressed both in Britain and France, and both in Paris and in London it has become fairly clear that neither France nor Britain can have its own way and that compromise is the sole hope of the situation, but compromise will have to be marked by very great sacrifices, and before they can make these both Herriot and MacDonald have got to prove the need before their publics. So that, in my judg- ment, the London conference will be at best a step, perhaps a very short step, worst a disappointment rather than a final failure. Settle- ment now between Britain and France will result from bargaining, and be a patchwork, not a clear and definite affair. Neither nation can have its own way and both are coming to perceive this fundamental fact. Therein lies the ultimate hope of ad- justment. (Copyright, is at 1924, by the McClure Newspaper Syndicate.) . A philanthropist lives not for him- If but for the world, Annual Their Mea: g Egg. From the Baitimore Evening Sun. May, 4 years old, always went to the henhouse to gather .eggs each evening. One day she found none except a china nest egg. “No eggs today” she announced Coats Suits to the hous: ickens measu when she returned Only the one th b ——o Dallas, Tex., has, in proportion t its population, over four times a many telephones as has London an over twenty-five times ag many a Naples, Italy. e %e@arel Shop VASHINGTON REPRESENTATIVE os HICKSON 728\ % Clearance Before Inventory Gowns From Hickson. Inc. Hickson, Inc., Tailored Frocks Were 895 to $165—now $65 to $115 Hickson, Inc., Tailored Suits Were $95 to $165—now $55 to $85 Hickson, Inc., Silk Suits Were 8125 and $135—now $85 and $95 Hickson,Ine., Steamer and Travel Coats Were $95 to $155—now $65 to $95 Hickson, Inc., Silk Coats and Capes Were $150 to $175—now $95 The Apparel listed above is found only in The Fine Apparel Shop on the Second Floor. August Savings guaranteed Payment conveniently deferred! 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