The committee pointed: out . that .the lending public - did
not feel assured that "the obligations. of Germany, as. they: are at present defined and: as they- may -be enforced, are within her capacity,- and that hen will and. intention to meet them will be, maintained:" She. could , not;. therefore, offer sufficient guarantees; even in. her Cestomstrevenue,. for. a loan.. Further, British and American investors would not be attracted _by a loan which did not. offer a permanent settlement of the reparations problem, and neutrals, who had suffered by the fall of the mark, would not lend-Germany money unless her finances were. certain to be restored.. If a foreign loan was. to succeed, the public must feel that Germany was honestly trying to reorganir-e her finances, and that all uncertainty as to repara- tions had been removed. That uncertainty, as the committee repeated again and again, was obstructing the revival- of trade not merely in Germany but throughout the world. They hinted that Germany was heading for serious danger if nothing was done to settle this question. A temporary loan might be arranged if there was any real chance of an agreement among the Allies about reparations.
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