EUROPE'S RECONSTRUCTION.

Star (Christchurch), Issue 16829, 4 September 1922, Page 5

EUROPE'S RECONSTRUCTION.

AMERICAN ON SITUATION. REPARATIONS QUESTION MUST BE SETTLED. By Telegraph—Pros* Association—Copyright Australian and N.Z. Cable Association. LONDON. September 2. Mr J. M. Cox, formerly Governor of Ohio, addressing the American Luncheon OTub. declared that France’s condition was wor» than France- indicated. He. however, was an optimist and thought things would work out all right provided that European statesmen would meet their task with the same vigilance and fidelity asr heretofore. The backbone of France lay ip the sanity of her peasant public opinion. She had raised enormous sums internally on the promise that the liability would eventually be met byGerman indemnities. Unless the question of reparations was settled there would be an economic collapse and the franc would follow the mark. Mr Cox paid a tribute to the German President. Heir Ebert, and the Chancellor, Dr Wirth. Germany had been living on the sale of marks in America and England, he said. Before the war trade balances were against her. now there was an enormous three and a half billion dollars’ worth of marks held in foreign countries. It was time that the voice of America was heard and she took a share in policies of international concern. No hermit ever did any good in the world. America was the child of Europe. Let her make a contribution in common gratitude to the recuperation of Europe. The European confusion had been contributed to by the American policy of isolation, and there could he no permanent, readjustment of European civilisation until America was part of the general equation. He was sure America’s decision as to the proper thinw for Europe to do would be acquiesced in bv France. Germany and all interested nations. The Americans were perhaps inclined to blame Fra ace for her militarism, but they had to remember that, as Americans, they had not made good in the matter of guaranteeing the security of France. Until they did so it was bad grace for her to blame France for taking steps she would not have taken i- the tripartite agreement had not been denounced by the United State?. BELGIAN PREMIER PLEASED. BRUSSELS. September 1. The Premier. M- Theunis. interviewed said that Belgium arid the world might be congratulated on the reparations decision which, though refusing the moratorium, gave Germany six months in which to find mean? not now available. Tt also removed the irritating discussions on acceptable pledges. COMMENT IN GERMANY. DECISION DISPARAGED. BERLIN, vSeptember 1. Every section of the Press disparages the reparations decision. The highly influential “ Bourse Courier ” declares: “It destroys every illusion we ever held instead of the granting of a moratorium. It imposes impossible conditions. The Deutsche. Dresdener. Diskone and Darmstadter banks unequivocally refuse, to discount the hills, and it is equally impossible to deposit gold in a foreign bank.” PRESIDENT HARDING SATISFIED. AMERICA AND EUROPE. WASHINGTON September 2. White House announces that President Harding is greatly pleased by the toleration shown by the French acceptance of the Reparation Commission’s plan to suspend the remaining German payments for 1922. He practically promises active participation by the United States in the settlement of the European financial economic problems whenever European statesmen agree that such aid would he most effective.