Reconstruction

After eleven years, 1912-1923 (Balkan Wars, World War, Anatolian War), of almost continuous mobilization, though not fighting, the Greek Army, last week disbanded. One hundred fifty thousand men are returning to civil life. M. Romanos, Greek Minister to Paris, estimates that the cost of this operation, which will increase the productive capacity of Greece, will amount to only 5,000,000 drachmas ($965,000).

Greek finances are badly demoralized by the failure of the war with Turkey. The Governor of the National Bank of Greece has gone to London to raise a loan. Greece made application for help from the League of Nations, which, after examining the proposals and plans for the settlement of Greek refugees, stated that the guarantees offered by the Greek Government were sufficient for raising a loan. The exact amount to be borrowed is not known, but will probably be between 5,000,000 and 10,000,000 pounds sterling.