Abstract

Behind the Cables

Remarkable things continue to happen to the remarkable French. A fortnight after refusing to pay the United States of America dollar 19,000,000, France agreed to lend the Republic of Austria dollar 14,000,000. No one here thinks this is as funny as it surely is. But a little bit of secret history helps to explain it. For one thing, the loan is granted to Austria by the Powers so that they, the Powers, will not have to pay service on Austria's defaulted League loan, which is guaranteed by the governments of France, Britain, Italy, and so on. The French look upon the Austrian loan as the final catastrophe of a catastrophic year. The Happy Results of 1932, according to "Journal des Débats," are that Germany need not pay but receives the right to arm; that France must pay and is going to be compelled to disarm.