Newspapers / The Daily Advance (Elizabeth … / Jan. 12, 1924, edition 1 / Page 2
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Germany's Last Hope Lies In New World Conference (*omiiii!>*ioii of Expert* Now Silling ul Conference in Pari* Can lto|n' for l.it|le More Than lo Pave W ay for Such Conference al liriuiiiel-i Soon l?y I'lt.WK II. SIMOMM C *??!?> 1 !>:!:{ by McClure Ne\vs|??|?er Syndicate. Washington, Jan. 12. ? Before this article can be printed the new commission of exports will have met in Paris and the first steps will have been taken in still another attempt to solve at least a fraction of that hitherto insoluble problem of Germany, which has for more than five years blocked the road to European reeon struction and world prosperity. The presence of American experts upon this commission has given rise to more than a little optimism on both sides of the ocean, but it is essential to recognize that the main service which the present commission can render will not, in the very nature of things, consist in re sults but in the clearing away of obstacles which at present prevent any comprehensive treatment of the whole Ger man question Technically the new cumin ision will (leal with only two questions, that of reorganizing and reordering German " finance and thai of discov ering rtic amounts of German capital abroad with an eye to forcing the reparation of these funds with ob vious benefits alike to German mon etary conditions and to the creditors of Germany on the reparation ac- . count. Moreover, this commission can only report to a reparations com-^ mission, whose further action in its turn depends upon unanimity. Those questions which have pro voked most discussion in the world J in recent months cannot come before) the present experts. For example! they are not permitted to consider ?the matter of fixing German capacity to pay reparations nor the sum total J of reparations which Germany can reasonably be asked to undertake to pay. They cannot consider the Ruhr1 occupation, either from its legal or its economic side. The French de claration of policy, the French de termination to stay in the Ruhr un til Germany has paid up. will not be called into question. Nor will there be any examination of the matter of interallied debts. J)ocm Nof Reach Roots It must be plain, then, that the! present venture does not in any sense aim at the roots of the Euro-) pean difficulties. If you asiyme, and I. think it is. a t'uir assumption*] that thfcre 6au b'd no settlement of the great problem, which does uolj comprehend consideration of poHll*; oal as well as financial aspects, does not bring about Home basic recon ciliation of the policies of Great Bri tain. France and Germany, which are today mutually exclusive and op-i posed, then It is undeniable that the! present investigation of the methods of stabilizing German currency and balancing German budgets must fall short and far short of any real "sav-1 ing of Europe," to use the familiar phrose. And the first fact to be borne in mind in estimating the present Eu ropean situation is that the chief dif ficulties are political and that the financial and Industrial troubles are only the consequences of the politl cal. If it wpi'i' conceivable that by some method a political agreement could be brought about between Bri t s< in . Germany anil France, which would he accepted in Rood faltli by a! I three peoples, wlftch should seem to ? arh a reasonably fair promise of security, botiT military and ?*eonomli\ which would offer something infi nitely more desirable than the single alternative which is continuing un certainty. depression, privation for all three, then it is not hard to be lieve that tile economic readjust ment would come quickly. Hut at the present moment the {j French are convinced thut Germany G 'wJII only pay as she is compelled to [j p?jy. that only force can bring even Jj small reparations return* and that ? only the occupation of the Rhine re- ? gions can give France any security 0 against an eventual German attack | and any promise of even partial Ger-,5 man payments in. the present. They | are likewise convinced that British^! policy, without regard' to French Q safety or solvency, aims at the. re- G habituation of Germany for Hritish | profit and that Germany's evasive e policy up to the present is the result S of the British failure to support g France in the application of the G? Treaty of Versailles which both rati- ^ fled. H - Only Hope lu Compromise The British. 011 their side, are sat- '?? isfied that French policy aims ?t the 3 ruin Germany without relation to jS reparations or to Hritish interests, ^ that French demands for security areiB impossible, since the only real guar- [f antee of French security against Ger-.g moil attaek must be found in a direct G understanding between the French g and Germans themselves. And in-]j| stead of seeking this agreement the | French seem to the British inciting [z G? rinan revenge. Britain then, | under new masters. insists that g France retire from the Ruhr, be- G cause this occupation menaces | British economic prosperity while it's refuses all British pledges of guar- | antee to France against another Ger-'g man attack as likely to involve Brl- G tain in a new continental struggle f| iflsUtfd of preventing such a tutua-tH troplie. The (ieriuans, on their side, |g repudiate the obligation to pay the | Costs of the reconstruction of the de-jg vastated regions, first on the ground Q "5 Q lr? PHONE 152 Albemarle i Pharmacy THEY HAVE IT of incapacity and secondly on the ground thdt they were not solely re sponsible lor the war. itself. They rely upon British hostility to France and British Interest in German re cov?'ty to check France. 'And they -a -ry frankly proclaim the:r present hatred of France ami their purpose to have revenue at thv earliest pos , sible monient. Nww it must be patent that be tween these three points of view iht*r?* is no point of com promise which does not involve very ? material modifications in every case. There can )?e no adjustment of the Kuropean problem which does ' not join Fr??nch security to German I preservation. Th?*re can bo no rt organization of the Get man financial anil economic condition, no salvaging of Germany save a a this salvaging is accompanied by guarantees of French salvation through tier man payment of gr? at reparations. Tlirse things are tru?- because itt the last analysis thf power lies in in Krench Han*'.!. France can pre vent C?*rman recovery even if Bri The Apothecary Shop PHONE 41(0 A Good Drug Store tain an?l :h** I'niK'd Stales tleslrr it and wurk for it. because Krunvv has fore** ontl i ho position. A? lite (Continual On Page Three) THE (lays of better clothes are always here. To he well dressed is a neces sity at all times.. Never before has our stock heen so complete with different stxles and patterns as we are now showing, D. WALTER HARRIS The City Tailor and Clothier ' Comparative Statement CAROLINA BANKING & TRUST COMPANY Columbia ELIZABETH CITY Hertford For the Three Years Ending Dec. 31st. OUR RESOURCES On December 31st Loans and Investments . . Banking Houses Furniture and Fixtures . . Cash and Due from Banks Expense Account In 1921 Were $258,760.84 $ 45,781.49 60,321.34 10,016.02 In 1922 Were 838,698.63 27,033.33 55,812.89 159,771.52 5,525.83 In 1923 Were 935,176.38 27,433.33 55,812.89 201,079.08 Total Resources $374, 879.. 69 $1,086,842.20 $1,219,501.68 OUR LIABILITIES On December 31st In 1921 Were Capital Stock 8215,223.75 Undivided Profits Rediscounts ' DEPOSITS 159,655.94 Total Liabilities $374,879.69 In 1922 Were In 1923 Were $ 245,010.00 $ 250,000.00 4,151.82 60,615.00 None 781,217.20 965,349.86 $1,219,501.68 $1,086,842.20 MEMBER FEDERAL RESERVE SYSTEM BARGAINS KWt^Ttt^ \ frr? tott in \ FOR THRIFTY day m mmf^i shoppers EVERY DAY IS SALE DAY AT QUINN'S .. .... -? I We have the largest stock of furniture in Eastern North Carolina ? and we are prepared to supply all your needs. The particular attention of those who plan to start housekeeping this Spring is di rected to the remarkable values we a; 3 offering. : : : : : : QUINN FURNITURE COMPANY
The Daily Advance (Elizabeth City, N.C.)
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Jan. 12, 1924, edition 1
2
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