Review of the Month

AT THE beginning of May the German government offered to the French and Belgians the payment of 30 billion .gold marks as indemnity, accom-panied by rather involved terms, among which was the ability of the Germans to finance the foreign loan. This offer was promptly and summarily refused by the French and Belgians. Since then there have been more palavers between the two parties, while the occupation of the Ruhr continued without especial incident, except some socialist riots and workmen's strikes. The renewed conference between the Allies and the Turks at Lausanne continued, without apparently getting anywhere. The Turks demanded an indemnity from the Greeks, which the latter refused to pay, threatening a resumption of hostilities rather than to do so. A. Bonar Law, the British premier, resigned his office soon after the middle of May, owing to poor health. The King appointed Stanley Baldwin as his successor. This. Attainment to the premiership of Great Britain by a business man is a noteworthy event. It is, moreover, to be remarked that Mr. Baldwin is personally acquainted with America and is well known to be a friend to Americans. The Irish rebellion came to an end. Economically there was some improvement in the situation in Great Britain during May, which was reflected in diminution in the number of unemployed. Nevertheless the aggregate of the unemployed in Great Britain continues at a very high figure. In Germany there has been an increase in the number of unemployed ever since the French occupation of the Ruhr, which naturally has been choking German industry. Previous to this the percentage of unemploy-ment among German workers had been low ever since the Armistice. A noteworthy domestic event was the non-stop flight of an airplane, May 2-3, bearing two aviators from New York to San Diego, California, in about 27 hours.