Unfortunately, there is little of encouragement in the situation either
on the Ruhr or in the Near East. With both these subjects we deal in our leading columns. Nothing of signal importance has happened in Germany. The deadlock continues, broken only by the French occupying new towns, which will certainly prove liabili- ties rather than assets. It is becoming clear that nothing short of a complete revision of Reparations and Inter- Allied debts can hope to get France and Germany out of an impossible situation in which neither side can afford to yield, but which is absolutely ruining any chances of economic recovery for Europe. In this con- nexion it is interesting to note that General Smuts has issued a statement disclaiming all responsibility for the Reparations Settlement at Versailles. He is certainly able to clear himself of any responsibility for having recommended that arrangement, and to show that he continually favoured the fixing of a definite and reasonable sum. It was merely as a lawyer that he had to admit that the wording of the Treaty covered the larger sum.
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