Review of the Month

WHAT was certainly the greatest event of January, and perhaps it will prove to be the greatest of 1923, or even of the next decade, was the meeting of the premiers of the principal Euro-pean powers in Paris on Jan. 2, to consider what should be done with respect to German reparations. The French and British were unable to come to any agree-ment, and the conference broke up on Jan. 4. The French and British parted friends, but each with the determination henceforth to pursue its own economic and political way. This event was profound in its significance and perhaps will be calamitous) in its consequences. Following the disruption of the Conference at Paris, the French immediately began preparations to occupy the Ruhr district on the ground that Germany was in default on coal deliveries, without waiting. for Jan. 15, the next due date for reparation payment. This action by the French led to orders being issued by President Harding on Jan. 10 for the withdrawal of the remainder of the American troops on the Rhine. Thus ended the physical participation in. European affairs by the American army, whose vanguard landed in France in June, 1917. The French occupation of the Ruhr Valley, i.e., the great industrial region of western Westphalia, was made with a large military force. The Germans offered no physical resistance, and passed under French control with sullen resentment. The coal miners to a con-siderable extent refused to work and there was more or less disorganization of railway service. Before the end of the month the opinion was expressed that the French occupation was an economic failure and there were reports of French blast furnaces being blown out for lack of coke.