SAVING THE GOLDEN EGGS

The Conferences now being held at Basle, although they have yielded in interest to such epochal events as the Lenz-Culbertson bridge contest, are, to those concerned with the economic future of Germany, of superior importance. Attempts by the French to sidetrack discussion of the whole German economic situation failed, and the hope was thereby renewed that the Committee's repot may be a fairly accurate and authoritative statement of Germany's ability to pay.

When its share in the present conference is considered, the temptation to view the French delegation's attitude as one of obstruction pure and simple is very strong. And yet it must be remembered that they are only asserting, in their own opinion, the legality of treaties and agreements largely created by British and American initiative. More important is the conviction, foreshadowed in the press reports, that Germany will not only be unable to pay for a period of at least seven years, but will even require special assistance from nations in less desperate straits.

If that point is successfully established by the Committee, it is impossible to believe that the French will refuse pointblank to recognize it. That love of legal formality which is part of their national character may cause them to delay active assistance, but in long run France will not sit idly by while the Bruening government falls. Another government in Germany would probably repudiate reparations altogether. The French will not hill the goose that lays the golden eggs.