INTERNATIONAL: Young Memorandum

Pleasantly but insistently last week Chairman Owen D. Young of the second Dawes Committee at Paris (TIME, Jan. 14 et seq.) circulated a memorandum of his own drafting among the delegates of the Great Powers who have met to decide how much Germany must finally pay in reparations.

Hitherto it had proved impossible to gain general acceptance of any definite figure in respect to any of the huge sums involved. But the Young Memorandum, secret, was understood to lay down as fixed beyond all need of further dickering this principle: Germany will pay...

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