Word: ruhr
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...great sensation of the week was the letter from Pope Pius XI to the Papal Secretary of State, Cardinal Gasparri, suggesting plans for an early Ruhr peace. The Pope backed the suggestion, emanating from U. S. Secretary of State Hughes, for an international conference to fix Germany's capacity to pay reparations. He also suggested that the Ruhr occupation should be withdrawn progressively as guarantees for payment from the Germans became effective. The Pope expressed some surprise that his suggestions were received unfavorably by the French Government, which considers the Pope's message an attempt to undermine...
...France will neither modify her occupation of the Ruhr nor evacuate except upon payments from Germany...
...situation at present is?so far as an armistice between the Franco-Belgians and Germany is concerned ?that France still insists on the abandonment of passive resistance in the Ruhr as a primary condition to a subsequent conference. Germany, on the other hand, will not consent to the French demand. As a result of Anglo-French and Anglo-German feelers it can be stated definitely that this difficulty is not insuperable and is likely to be solved by a compromise...
...Paris, January, 1923: Bonar Law's scheme rejected by Poincaré. France occupied the Ruhr...
...levels of the worthless Russian rouble. Instead, new and futile laws are being enacted against speculation in foreign exchange, and new and equally futile attempts are in process to somehow "stabilize" the mark exchange rate. At the present stage, it seems that either the German policy concerning the Ruhr must be abandoned, or else a political and social revolution in Germany must occur. The Ruhr occupation is proving expensive to France, but she can easily hang on there until the inevitable German financial collapse arrives...