News of the Week
THE Lausanne Conference has been postponed at the eleventh hour, and no one knows whether it will be held at all, and, if so, when. The United States has told France plainly that there can be no talk of linking up reparations with debts, and, indeed, no talk about debts at all, which Europe could well pay if she chose to put her house in order. M. Laval, nevertheless, in a stiff speech in the French Chamber has insisted once more that there can be no remission of reparations without a , corresponding remission of debt, and (in another connexion) no reduction of armaments without a corresponding increase of security guarantees. An article in the Daily Telegraph by M. Herriot, the leader of the Radical-Socialists, shows that there is not a centime's worth of difference between his views and M. Laval's on reparations, and little to hope there- fore from the coming elections. Meanwhile Dr. Bruning, while prepared to accept a moratorium of a few months more, demands a final settlement before the end of this year. In this country the desire to end the whole disastrous business once for all is virtually universal, though, as we, pointed out last week, a settlement based on a limited payment by Germany after the slump ends would be far better th-an no settlement at all. In view of the attitude of the various Powers involved, the sound policy for this country is to press forward a reparation settlement as vigorously as possible. leaving the debt guestion till it comes up in Deceniber.
