LEAGUE OF NATIONS

Otago Witness, Issue 3590, 2 January 1923, Page 50

LEAGUE OF NATIONS

FINANCIAL AND ECONOMIC DIFFICULTIES. STABILISING CURRENCY. LONDON, November 10. The action taken by the League >f Nations on behalf of Austria has had a stimulating effect on other countries which are in financial and economic difficulties. The problem, of Albania is not quite that of Austria, for, unlike the latter unfortunate country, Albania has sound currency on a gold basis, and practically no international debt. But she has no credit organisation, and owing to lack of loads, internal trade is practically impossible. bhe is a State politically but not economically. Albania has accordingly applied to the Leao-ue of Nations for a financial adviser, who” is shortly to be appointed. Before coming to a division on this matter the Financial and Economic Committee of the League sent Professor Calniee, of Luxembourg, to Albania to study and report on the condition of the country. It is the report which lias decided the League to accede to Albania’s request. THE LEAGUE AND REPARATIONS. The Reparations Commission is now studying in Berlin the question of financial reform in Germany and the possibility of inter Allied control to assist in the stabilisation of the mark. The success of the intervention of the League of Nations to save Austria from the fate which now seems to be threatening Germany points-to the desirab eness of shifting on to the shoulders of the the whole problem of international indebtedness— reparations , and lnter-Allied debts The Third Assembly of the League recently decided to ask the League Council to devote constant attention to this matter, aud to be ready to intervene if requested to do =o bv the Governments concerned. It is considered that the time is ripe for such a request. M POINCARE AND THE LEAGUE OF NATIONS UNION. The League of Nations Union has received a most cordial letter from the President of the French Republic, who has just been elected an honorary vice-president of the union. M. Poincare writes: “I fully appreciate the honour that has been paid me, as well as the proof of sympathy that your association has thus given to a friend!/ nation. For my part. I rejoice to be brought into direct touch with a movement which has such a lofty moral purpose, and which has already given tangible proof of its efficacy. I send to the members of the League of Nations Union my most sincere and heartfelt thanks.” It is quite clear that a remarkable change has come over French public opinion recently in regard to the League of Nations. The League’s action in saving Austria from ruin is largely responsible for this. The Paris Midi recently observed that “the only spot in the world where real solutions are being contrived is Geneva,” while M. de Jouvenal, writing in Le Matin (formerly a very antiLeague paper), says: “What is clear in any cose is that new methods are necessary to save Europe from anarchy, and that the League of Nations dares to apply them.”