Show I I i I I I I CREDITORS IN CONTROL HELD SEO ONLY SOLUTION Under Present Policy of Crisis Threatens By fly A T Former r to In the Oi States Copyright 1923 PARIS Juno June If 2 2 It It the reparations clock Is to be set ct Into info mo- mo mohon motion motion hon tion it must mut be controlled by Ger- Ger Germ Germany's m many's ny creditors and c emPted from the vacillating policy ot of DerlIn Berlin lIn Today Tody Germany I Is forcing her own b bankruptcy by buying coat coal and coke abroad while the he Ruhr manes stay idle She I Is exhaust exhaust- ng ng her hr sold old reverses reserves reer es and and- foreign securities and Inflating Industrial prices Soon she will have halo ha 0 noth noth- noth nothing ing left conI It Is well to realize th that t In con con- connection con I with the tact fact that i o tort fort fortnight fortnight night ago allO Germany was on the point of oC o sending anew a n new offer to the allies It was seas halted hen nhe n Boner Law was as compelled to retire and Baldwin DaldIn Dald In succeeded himot him ot ot enough attention has boon been paid to this tills fact r r CEn CID m nv DY CRISIS It I Is not II a question ot of o persons peron Do not understand me 1 as believIng In bellev-In Ing Cuno has Ios any knowledge kno ledge of at a s plans But nut It is clear th that t Germany while continuously talking of oC pa Ill ing really Is only thinking of or the different degrees of necessity to pay and means to I profit whenever er po possible b by inter inter- international international national circumstances and them to reduce her obligations Reparations In Germanys Germans eyes eves es I Is political In Instead tead ot of n a financial problem Before Detore II as well as ns after arter the Iho Ruhr occupation Germany has been hastened by multiplied pe- pe pe Pl pecuniary sacrifices to liberate French toll soil from Crom the pointed hel- hel helmets hel helmets mets ot of the Invader In This Is not the case with the Germans German as wit wit- witness wit witness notI n ness s their Indifference to the tho occupation occupation occupation pation of ot the tho left bank ot of the Rhine Now the Ruhr has been occupied rise five months but they per per- persist slat in 11 not pa paying In and rather than per per-I meet their obligations lon expose expos e to a political and eco eco- economic II cco-II eco economic crisis Sentiment makes no noi Im re Slon on them r hor money abroad and with prices I mounting Germany can nn Y Yas Il as old an Industrial crisis Food Is short hort and getting shorter Shortly many Ge must ask her creditors creditor for term terms whether hether they thy like It or not Unfortunately on nn that day neither Germany nor t tier hII nr creditors will be In any better hetter position pos than acI when hen the Wirth gO government nc- nc ac accepted LondonI the terms term or of o the London ultimatum in May 1 1921 n 1 we 0 have thought that tl that at the Ruhr occupation might halo havo changed ed the tho situation But that occupation occupation tion Instead of oC being military and political should hale hav been productive productive productive tive and should have created cle- cle clement d ele elements o- o ments ment for annual payments payment under aWed allied control This result has hIlS not been attained and now declares delares he will not seek seck It ML MST n CONTROL Methinks this Is the great weak weak- weakness eak- eak ness s of ot the moment I do not agree aree In the utility of oC pa payments ments under a II large International tonal loan t at the present time timo to be teed teed through open opening In or of International International 1 markets I I have not agreed generally with Keynes but do think he I Is tight when he hold holds the cred cred- cred creditors creditors and not Berlin must control Germanys Germany's resources It if Irom the first day the Ruhr industrialists Industrialist who under proper ry military control hove haro admitted they would hate havo continued work line been submitted to perm permanent nent oh- oh ob observation with Ith an nn annual tax levied on their profits the means ot or ply pay payment pay ment mene would have hate been found Cound But this was not done donI On the contrary Instead of at o pro pro- proclaiming pro claiming the rule of oC compulsIon to he ho Imposed on the Ruhr people while they also alo were protected tron front Berlin trance France and Belgium blot brt their to the Helch on January 11 last literally threw away n ay the tho weapons they might have used The They decreed that nothing wa was changed In n sovereignty laws lawand and regulations a and nit concluded by making an on appeal to the good win WIlt ot of the Retch By Dy this his means mean and the failure to set up their own laws s they do- do de deprived the Ruhr people p Ople of oC the tho of ot r resisting Berlin domina- domina domination tion The result was the passive e resistance now PI G 1 G SEE SAw This has made Germany e behe she can Ret get out of at her trouble by playing Pl l Ing a gamo of ot see saw aw wIth a I method which has SUI- SUI succeeded suc succeeded very verv well w ll since 1920 1 20 She Sh I is counting on possible dif dif- dif differences between the allies to 10 con on eon London a refusal to pay If It Lon Lon- Lon Lon- don would be bo less Iss willing to obtain t treaty rea ty concessIOns in Paris Faris and els Drus-els Brus and instead would l en- en en deavor endeavor to obtain satisfaction by making m Berlin execute e lIto treaty things thinS's would be different t Let each on one e examine his own con con- consCience conscience con conscience science and now Is the t tune n |