Optimism

The recommendations made by the two committees of experts (TIME, April 21) have definitely entered European politics as constructive factors.

Chancellor Marx accepted for Germany the Dawes reparation plan as a basis of a settlement. There was no evidence to show that the present German Government had not given up resistance to the reparations clauses of the Versailles Treaty.

Premier MacDonald accepted the plan as "an indivisible whole." The stressing of these words was taken as a reminder to France that Britain will not countenance any move which permits the retention of the Ruhr and that she will not be a party to any modifications aimed at imposing a scale of punishments upon Germany in case of default before she actually defaults.

Premier Poincare of France averred in a speech which sounded the key- note of the French Nationalist's election program that his Government is willing to make the necessary concessions to enable the Dawes plan to be put into effect. Certain diplomats professed to see in this statement the empty phrases of electioneering strategy. Positive indications that France will give up the Ruhr were absent and the question of French security against German aggression was a subject that was not seriously discussed.

The industrialists. Pending the definite acceptance of the Dawes recommendations, the Ruhr industrialists renewed for two months the accords established with the Allied Control Mission last Fall.

Negotiations necessary to the inauguration of the Dawes plan will not take place until late next month, when the political clouds in France and Germany have rolled away.

Meanwhile, although a spirit of optimism runs riot in the world, the ultimate success of the reparations depends upon:

1) The results of the elections in France and Germany.

2) Fixing the total reparations to be paid by Germany.

3) Determining the interrelationship of reparations and inter-allied debts.

4) The procedure in case of German defaults.

5) Meeting France's security requirements.

6) The manner in which the military control of the occupied territories is to be terminated.

7) Meeting guarantee requirements demanded by France.