A Beginning

All the delegates to the two committees of experts which are to inquire into German financial problems (TIME, Dec. 24, et seq.) arrived in Paris, Those on the committee to inquire into Germany's currency and budgetry troubles started their labors.

M. Louis Barthou, President of the Reparations Commission, welcomed the committee, promised French cooperation in its work, for on its success, he declared, "depends the pacific equilibrium of the entire world." "We do not expect from you," he continued, "the unlocked for miracle of the reparation problem, but we hope with sincere confidence that your competency, experience and authority will concentrate to hasten the result toward which we are bending all our efforts."

The meeting was conspicuous by the lack of military splendor which has marked former conferences. It was said that not one uniformed soldier was present.

General Charles G. Dawes, Chairman of the Committee, opened proceedings with a speech in which he adopted the slogan "Strictly business and no politics." "The reestablishment of German productivity is the starting point of European prosperity."

"We have come to know," he went on, "in common with the citizens of all nations, that at last that lack of power to agree upon a common attitude and common action had brought all Europe to a most critical and dangerous situation. This is not time to mince words. The impenetrable and colossal fog bank of economic opinion, based upon premises of fact, which have changed so rapidly as to make them worthless even if they are in agreement." Stating that he could speak neither for the American Government nor for the American people, Mr. Dawes added: "But as an individual, I read in shame and humiliation the outpourings of the American nationalistic demagogues who undertake to lecture Europe in order to lift themselves into some petty office or to maintain their political popularity."

The membership of the committees is : U. S.: Owen D. Young, General C. G. Dawes, Henry M. Robinson; Great Britain: Sir Robert Kindersley, Sir J. C. Stamp, Reginald McKenna; Italy: Dr. Alberto Pirelli, Professor Frederico Flora, Dr. Mario Alberts; Belgium: MM. Francqui, Hontard, Janssens.