15 JUNE 1929, Page 14

Extreme satisfaction is manifest throughout the United States over the

signing of the report by the Experts Com- mittee in Paris. Among the results may be the reopening of American securities markets to German issues. The question of priority of payment is disposed of. The French would be wise if they could now find it possible to ratify the Mellon-Bhrenger Agreement. That would re-establish more intimate intercourse between American and French finance. No matter what may be Mr. Snowden's views of the Balfour Note, the time is clearly not yet ripe for any effort to revise Inter-Allied debt settlements with the United States. Already there are rumblings of disquiet in Congress over what the Young plan really means in this respect. Time must have its chance on this subject. Of great importance is the comment cabled to the New York Times by Edwin' L. James, its accomplished Paris Correspondent, who suggests that even the Young plan is not the last word, and adds : " I am not authorized to speak for Mr. Young, but it is permitted to wonder if he really thinks that Germany's yet unborn children and their children after them will pay for more than half a century to reimburse the United States for money which we advanced our Allies to fight Germany. That is the way it is mapped out now, but many things may happen before fifty years roll around."

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