Apr. 5.
Waite nobody has any very clear idea of what the Genoa Conference is going to do, there is plenty of information as to what it is mot. Thus the French Cabinet are reported as being completely agreed about co-opera tion in Kuropean reconstruction but "'opposed to and surprised at the introduction of political questions, such as the recognition of the Soviet Government or purely inter-Allied questions like reparations." Meanwhile the Soviet be blown up before they get home again. There is an obvious flaw in the project which foredooms it to sterility. 1t is to be an economic conference with the reconstruction of Europe in the forefront. But with all political matters ruled out, what hope can there be for the economic side? The two are, under present conditions in Europe, indissoluble, and a conference to talk one without the other is the most futile kind of 'Hamlet'? without the Prince of Denmark. ake for instance the question of Soviet Russia. The Allies' attitude is, roughly, that, as Bolshevism cannot be forced to change, they had delegates in consultation with the petter make the best of things Baltic States at Riga are ready to '"'welcome the assistance of foreign capital in the reconstruction of East Europe, but this must not encroach on their political and economic sovereignty.'' And now Mr. Lloyd George declares emphatically that Genoa must not and will not discuss revision of treaties or the question of reparations. However he, at least, has some constructive idea to put before the Conference, for he goes on to say that ''the question of peace with Russia, whose principles are odious, and whose actions are loathsome, must not be approached from the standpoint of what was happening in Russia, but from that of the benefit of Europe and the world.'' In other words, never mind the morals of the person you're dealing with so long og there's money to be made out of them. And any possible misgiving that the principles of Bolshevism, if not its actions, might react on its patrons and customers abroad Mr. Lloyd George disposes of by the assurance that "there are indications of a complete change in Russia's attitude on the subject of private property.'' Credat Judaeus Apella, The Prime Minister's optimism does not find much support in the views of those who know Russia and have- lately visited her: like Dr. E. J. Dillon, who tells us in the February ''Contemporary'' that the forces of Communism have but recently undergone a severe purge at Lenin's hands in order to rivet more tightly the hold of this amazing oligarchy upon the Russian people.
With all this conflict of intentions, stipulations and prejudices, it is not surprising that the average man's interest in Genoa is limited to a faint curiosity how many of the delegates may and come to terms as far as they can compatibly with their own dignity. The Soviet's attitude is that the Powers, having tried to coerce it by force and failed, are now ready to stifle their consciences yr put their pride in their pocket, for anything that is to be got out of Russia. And this view is justified to the extent that the Powers appear to be ready to acquiesce in the Soviet's confiscation of private property, if they may supply the capital necessary for its development. Take, again, the question of Germany. Does any living sou! outside the accountant departments of some Government offices know how much she has paid, how much she has to pay and how long a time is given her to pay in? The original scale and system has been so chopped about that all we are sure of is that while France says she must pay, others are doubtful of the wisdom of her paying and she herself is on the verge of declaring that she can never pay. And outside all other differences, there is the crucial question of the means by which she is to pay, whether in gold, goods or labour. What possible working theory of economic reconstruction of Europe can Genoa arrive at without some sort of solution of these problems?
The truth of the matter is that no conference held or to be held will avail anything until the Powers of Europe are willing to face realities, the chief of which is that the mountain of debt between one country and another is so enormous as to have become utterly unmanageable. We have recently seen an example of this in respect of the payment only of the interest on the Allied debt to America for which Great Britain is responsible, when her offers of gold, of exchange and of coal proved equally unacceptable owing to the disorganization of American markets certain to ensue. With the laudable intention of wiping out debts as quickly as possible, Governments have heavily increased taxation, the British Government heaviest of all, and. the peoples have submitted. But now it is beginning to be realized that this merely means diverting money from trade, which therefore so languishes that the burden of taxation becomes more burdensome and the debt grows worse: One begins to suspect that the only real solution of Europe's troubles, the only way to her resuscitation, lies in a general can-collation of debt all round, to which, if Germany were included, we believe that America also would consent. But who shall propose it? For an unhappy spirit of mistrust prevails among all the nations of Europe. They have suffered and they are determined to have their rights. But it remains to be seen whether they will get them without first admitting a more liberal view of the rights and wrongs of others.
Text read from the printed page and cleaned; old type leaves the occasional error.