Show MORGAN lOAN SAVES FRENCH FRENCHI I MIDDLE CLASS fROM MiSERY 1 By WILLIAM flUID BIRD I CopyrIght 1924 by the Consoli Consolidated dated Press Association I consoli-I PARIS March The 15 15 Tho The con con- concierge concierge con bringing up the th morning I papers said ald He He Is I a s nice man that Mr I Morgan Mors-an That i Is probably the th sentiment of most Frenchmen Including Prem Prem- PremIer Premier ier ice Poincare Mr jJr Mr MOl gan i Is a a nice nic man manFor For thi this In Is what hat hue he h has ha done Mr r Morgans Morgan's timely loan ha has saved aved France Franc from a a scary slide of inflation upon which she h yen yen- ventured ven ventured I last week It has ha saved mil mil- millions in ii- ii lions lion of French Investors investor from I uttel ruin It Ita has sa saved ed French I middle and professional classes from misery and starvation I And In a larger way ay It ha has elv- elv elven given en all 1111 Europe a breathing breathing- space pac I In which Thich the tb outstanding out problem I may be ba b put on the th way ay to solution If It those tho In places place of pow PO or er seize selz the tho th opportunity A wit seek eek o ago the th labors of ot the tho Toung Dawes-Toung Young committee for tor eJ- eJ ex ample seemed to be Le utterly vain Tain for It if their report which It Is la i hop hoped d will rehabilitate German Germany could be b rendered It looked as 11 It Franc rances finances would be bo In ruins Today thanks thank to Mr Mor-I Mor Mop Mop- gun can the th experts can complete their theli worl work tranquilly This doc docs not mean n that France France problems problem are ar settled All that the th Morgan Morean loan means mean Is I that France I r nc will v ill have hav a tow few w months month respite In which to put her finances In order I Indeed the th terms of the th loan stipulate late that France Franc muSt muM mu t cease bor- bor borro borrowing bor borrow row ro rowing ln Ing except to consolidate her hei floating debt and may not even Issue bonds to complete complets restora- restora restoration restoration tion of the th devastated regions with with- without without with out providing for tor them then out ot or the th I bUdgetary receipt rc lpt Furthermore within ten months Trance France must be b I prepared to repay Morgan In dol- dol lars lar br Simple Simpi le arithmetic will show how what wha a hard bard uphill road rood France Franc must I travel within that time tim If It repay relay mint meat o the th loan is III 1 not to undo all allI I the th good rood that has been ben I accomplIshed accomplI lI he by ItA It A Aa for or th the experts report o of which the th public Is leete led lee to te 10 so o much It can be b deft stated that hOpe hopes of torrents torrent of ot German told old will not be ba d Th The cor- cor has haa talked with an anI a I American prIvate citizen who ho was aa prIvileged to r-id r the draft upon which the th experts erts were wr In sub sub- stance unanimously agreed and which will be b adopted with only slight changes chances this thi Individual tie tie- do scribed It as a a bitter pill pm for or the French to te wallow swallow Indeed the th official showed shod the draft to the writer a s Informant ex- ex the th slew Ie that thal It would nouM ne- ne ne ces stabIlization of ot th the franc francI I at three cents This Thin predIction however Morgan can Is ig Invalidated b by the Mor- Mor gan loan but It may be bc realized If France does not take tak advantage or of ortho the tho next few months to put her finances In order Inthe The Th largest clement of ot doubt In the opinion of France Franc s banking and nd business leader comes from the tho elections election which are aro slue lue In May Although h Poincare with his juristic mind Is flatly opposed to suspending tho the 1 vision provision Islon constitutional pro pro- pro itIs and elections It lis IS well under that PresIdent I and some somo members member of the Poincare cabinet I chief among I whon Is I war Var Minister Maginot are aro in favor of proroguing the th parliament for I one ono at least lead yea a a ai was done dono during the tho ar 5 ar I hood likelihood h arAm As Am there Is ii scarcely ly any Imbued that th the senate which Ie ig Im- Im Im I ImI w with ith democratic traditions a p pa par s a law to thin this effect It lis itI I is proposed to accomplish it by tantamount decree It rt would bo ho tan tan- tan limIted rt to establishment M of ot o n lim- lim dictatorship but that In the lith opinIon of conservative elements element Is the only chance chanc of saving the tho th I country from slipping to the tho left and Into perilous financial path paths If It however howe the th elections election are aro ar called off antl government forces threaten to resign In n n a body from the chamber titus thu necessitating partial Francein Fn l elections all over ov Franco France pr L in the tope rope or of o the th country s a attachment to democratic demoa princIples pS I The Tho senate senat of ot COUrSO Is not at- at as a It li 11 i elected by Indirect vote Somewhat as a tho the AmerIcan near sena te used to be At all e It lt Is 13 probable that thai the th next few T weeks will m show how In lr 1 t what direction France Prance I li is turning and at the th present moment as goes France so o goei goe goes Europe |