M. Jaspar is the Chairman of the second, as he
was of the first, session of the Conference. His suggestion was accepted that the work of the Conference should be shared by two Committees, one dealing with German reparations and the other with non-German reparations. There seems to be little, if any, contact between the two Committees. The air has been thick with talk about sanctions, that is to say penal metliods of dealing with Germany if she should default in her payments. It is impossible to conceive a more unreal discussion. It is academic and legalistic by turns and seldom touches the common sense of the matter. Here is a supreme instance of the gratuitous mingling of politics with the proper subject in hand. The truth_ is that the Treaty of Versailles has for practical purposes become obsolete in regard to a defaulting Germany.
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