Evening Star Newspaper, March 22, 1928, Page 35

THE FEVENING STAR, WASHINGTOY, ¥. €. THURSDAT. MARCH 22, 1928.° T e e T BT R * NEW AMERICA IS ENVISIONED AS YOUNG TALKS OF DAWES PLAN| Co-Author of Proposal Which Aided Germany Praises Lindbergh. Holds Flyer and Gilbert Are Greatest Ambassadors of United States. follaw D. Owen nee obtam BY EDGAR A By Radio to_The Dails News BERLIN, March 2 —an America of generousenlightenment, first in the world perhaps, but first among equals mindful of its responsi- bilities of power and prosperity, friendl 10 all the world and eager to see other nations and peoples reach -the same high standard of living as its own peo- ple—such is the vision that came to the writer during an interview with Owen D. Young, chairman of the board of the | General Electric Co., co-father of the Dawes plan, one of the new type of American industrial and intellectual Jeaders, a man of wide interests and unfailing sympathies. This is probably the first time Mr. Young has spoken his mind publicly concerning the Dawes plan since its in- ception more than four vears ago. It was authorized only after consultation with some of the persons chiefly in- terested. Lauds Lindy and Gilbert. “Lindbergh and S. Parker Gilbert are America’s greatest ambassadors,” Mr Young said. and as he spoke the writer knew Mr. Young had been the third. The writer had last seen *Mr. Young in Berlin when he and his international es were there, engaged in work- ing out the plan that was to save Ger- many. Now the writer was in his office, high in the corner of a building in lower Broadway, overlooking the harbor of New York, the richest city on earth and the eastern gateway of the United States. ‘We stood a moment at the windows Jooking across the bay and the outward bound steamers toward the Jersey coast and the American continent be- yond. “Isn't it glorious?” he asked. And we were seated while he filled one of his long-stemmed, rough-bowled pipes, which the writer remembered from Berlin days. Initial Suspicion Changes. Abruptly Mr. Young asked what the Germans think today of Mr. Gilbert, the American agent general of repara- tions, and of the Dawes plan. The writer told him how the initial suspi- cion of the German people toward their “financial dictator.” as they sometimes called Mr. Gilbert, had gradually chang- to liking, and how the Dawes plan had enabled the Germans to start their “1 can only tell | t the cow which I In December, 1923, for Burope, 1 went farm where I was now raise live stock ighbor, came over o 'ou hit on it, the writer answered | | | | | ger all at cnce, process by loans and eventually it will begin to flow over the frontier. of its own accord. And there is your export surplus.” . “Would you agree with Prof. David A. Friday that there might have been a transfer question?” the writer asked “Perhaps. If political difficulties had arisen in the first year or two, perhaps And then there is always the tempta- tion that as the Germans grow richer they will want to make the glass big- which would retard the overflow and might destroy Ger- man_credit.” “Then you agree that Germany may be borrowing too rapidly?” “I am not so alarmed about German borrowing,” Mr. Young replied, his ey twinkling. s I am about their bol rowing for extravagant home consump- tion. When a few months ago Ameri- can bankers came to me and asked about selling out their German bonds [ had to remind them that they were | the same persons who had before been same bonds on the Germany unloading these American public and that | was probably sounder now than then A new America OWEN D. YOUNG. “What do you think of the transfer problem? Some economists now say they never believed such & problem | existed—that payment of reparations from a sound currency automatically, | with the passage of time, creates an ex- port surplt Gives Visual Demonst.ations. “That has been precisely my idea from the beginning.” Mr. Young said quickly. “But we had to see. If you| forget all the terms of the economists and look at the problem in a common sense way. it is not so difficult.” Mr. Young reached over and set an empt water glass squarely on its bot- tom. “This gla took hold i ss is Germany. When we had been drained of its liquid capital until nothing was left but the last things to go—that is, food and clothing. The problem of recon- | structing_Germany is the problem of how to fill that giass. It must be filled | | gradually. ~Give it time and assist the | b e bd g Stsla No. 764 in black. Day In and built in and not polished on. HE PRI There is nothing wrong with Germany I should not worry too much about the loans. In a few years the export sur- plus should be there.” “Then you think the present scale of payments can_continue?" “We must wait and see. It is pos- sible that long before the Germans have transfer difficulties, if there are any, the creditor coun will decide they don't wish this steady competition in the shape of German goods, exported in pavment of political debts, cutting into their home markets.” “What about a final settlement of the whole outstanding financial prob- lems of the war on commercial lines?” Mr. Young hesitated. “Creation of the German industrial and railway bonds points the way,” he 'FREEIRALBOX OF FAMOUS PYRAMID FOR PILES 1¢ you have Plles, we will gladly send you & free trial box of these marvelous little sup- itories for their treatment and relief. Eend o money—just your name end RELIEF oottt S 03 R like Pyramid, PYRAMID S35 e e T T RS PYRAMID DRUG CO., 900 Pyramid Bldg. 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Distributed by Sehlitz Distributing Co., 2600 101 s Street NI, Washi % DA, Potomae 5550 - 5 “WSCHLITZ-THE NAME THAT MADE MILWAUKEE FAMOUS ™ A ———— S A 4 ['of collectors of revenue are all com- finally sald. “Just now there are majur’ elections pending in this country, in Great Britain, France and Germany. By the time these elections are well over, about a year from now. the nor- mal Dawes year will have proceeded so far that there will be a practical demonstration of how much Germany can pay. Then it will be early enough to begin talking about fixing totals and making settlements. Performance, not discussion, is now all-importan! INCOME TAX PAYMENTS SHOW DROP IN PACE Colledtions of $280,610,803 Up to Monday Night, However, Larzer Than Period Last Year. On the face of the latest Treasury figures the pace of Government re- ceipts from the March 15 income tax installment was disclosed today to have slowed down a trifie as compared with its previous rate. 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