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Hokitika Guardian, 1 August 1924, Page 2

Fioi.m tin l Freni h point of view, the dilemma is, certainly, a cruel one; and AI. Hcrriol is credited by tho London ‘‘Daily Telegraph's” diplomatic writer with having openly declared ti.a.t if lie had t.o choose lietwcon the £4().tK)D,O9() loan and the Yersu.iies Treaty, lie Mould ohon-e the Treaty, as In' could not coinpromi.se the Inline sovereignty of Fiance. He insists on maintaining tin* right of France to act alone in Ihe case of emergency, stating frankly that his Goveniuicut would not lasi a, day if it Mincndered that right. If Britain or the I’nited States had Germany as their licxt-d noigiib.inr. just across an imaginary l:oiind:iry line. we I'ein-y diet l.tieiiGovornmeiits. too, Would lit* equally insistent in maintaining this right. As we see it. the principal difficulty right along with rogaid to the European situation —the chief obstacle in the way of securing a lasting peace and attaining to a position of stable equilibrium, both political and economic bas been France’s deep-seated distrust, of Germany, and the lack of any sufficient guarantee against German aggression, ft is difficult indeed to understand whv British and American statesmen are so slow to recognise this fact, and ban* so long and so disastrously hesitated to afford Frit lice the necessary guarantees. Were this done, there would, we are convinced, be but little difficulty at arriving at an agreement on all other matters, including even the evacuation of the Ruhr and the required gun rim tees for the international loan to Germany—guarantees on such lilies that, as the bankers desire, the arrangement arrived at would have, not only Germany’s formal assent, but also Germany's goodwill. Meantime, it is good to know that while it is admitted that there is a certain degree of deadlock at tin* Conference, the feeling, both iii British and in French circles, is not pessimistic. Tt is not believed that the Conference wiM breakdown. On the contrary, a. prominent mendier of the French delegation has declared that a wav will certainly be found, eventually, out of the difficulty in regard to proper guarantees to the bankers and the maintenance ef the sovereign rights of Frame under ihe Trealv of Versailles.