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Hokitika Guardian, 11 January 1922, Page 2

High finance is involved in the de--1 iterations at the Cannes conclave. Britain appears again to have been most generous to her allies, and hae made offers which are staggering in their immensity. If the reports be true the British offer to Franco is lavishly generous, and should establish once and for all the entente in unbreakable bonds. The cost of the war to Britain in money value was of course enormous. It has been calculated at one eighth of the na■tiorris total wealth. In addition to this, Britain lent lavishly to the Allies and the Dominions. Much of this debt will doubtless be a complete loss. The loans to France are given at £514800,090, so that if this amount b« remitted it will be a tremendous writing off. Other Allies to say nothing of the Dominions, might be expecting like favors, so that it will be seen the high finance of these times haß great possibilities!. The would is so much in debt that the burden cannot be borne by many countries, and relief will have to he afforded. The stroke of policy whereby France is to be placated to ease Germany over a difficult period, suggests the general writing off of debts which are irrecoverable will now become a matter of necessity to help clear the financial difficulties which are so generally pronounced. It is a development' which has been hinted at in the past, but hitherto no statesman or country has been hold enough to take the step.

The Cannes conference has been rendered notable also by reason of Mr Lloyd George’s brilliant survey of the European outlook. Tilings are not as we would wish them n nor is it possible by any stroke of genius or force of arms to make them fit our ideas of immediate requirements. The countries and the people are as we find them, and they have to be taken as they are—whether enemies or friends. If Europe is to be rebuilt out of the chaos created by the war period, then the people must be dealt with through their representatives. In his defensive speech as affecting Europe, and the proposal to admit Germany and Russia to the conference, Mr Lloyd George unconsciously also justified bis late action in dealing with Irish rebels to assist in straightening out the affairs of Ireland. He could find no other way and no other way existed. And so circumstances and the end reached justified the means taken. Having been successful along that line of action, he proposed the like line of action with regard to the European powers considered outside the pale. And no doubt it is the right course to take. It ii the only prudent course, for by no other means \Ojll favourably results be possible. The vision of Mr Lloyd George in all the large questions ha tackles is wonderfully clear. He seem H to he heaven gifted in the celerity of his views and the cogenoy of his expression. A wonderful asset of our timos is Mr Lloyd George whoso name and fame will pass down all history as one of the greatest of Englishmen. It would appear that the European situation is going to be as earnestly tackled as were the other large problems he has had in hand, and will be dealt with, with the same conspicuous success. His success will l>e reflected all round the world, for the financial recovery of Europe will lie a gain to all parts where trade and commerce is essential to the well being of a country.