The daily Nome industrial worker., 1918-04-17
"0N 10 v|CT0RY'
IT MIGHT BE MUCH WORSE

The latest news from Russia-its reliability cannot be vouched for, of course-is to the effect that the Rus sian government intends to repudiate the national dept and will issue a de- cree to that efest in day ortwo.
 Now we would respectfully urge our esteemed contemporaries not to get unduly excited should this thing happen. It would be very deplorable, no doubt, but scolding, invective and vituperation will not mend matters. once more started the report will as- suredly reach Russia and merely hard en the determination of the revolu- tionists. Besides, it would help spoil all the splendid work President Wilson has so far done and render null and void all his commendations of the hon. esty sincerity, justice and democracy of these people.
 Let us look on the bright side of things, for though the act is certainly unpleasing, it has d bright side Things might be much worse.
 It is only a trifle of ten or twelve billion dollars; probably not more than one twenfth of the total war expenses to date. And fortunately, our finan- ciers stand to lose but very little--a bagatelle of $500. O.OOOOOO or so. More than twenty times that much is held in France and Great Britain, espec- ially France And there is some con man financiers stand to lose a good Geal, to.
 No matter what the Russian govern ment does, we must all stand by it now and we cannot afford to morally berate siders itself no such thing, and does not hold itself in the least responsible for the financial obligations of the czarism. That may be an immoral view of course, but what can we do about it? Better pocket the loss and say nothing, or, if we say anything, let it be continuation of tho chorus of praise started by President Wilson about the morality" and democracy" of the Russian people as a whole and avoid alluding directly to this disa- sreeable subject To keep silent on such matter is perhaps contrary toI all our best instincts. but with a little practice and self-denial we can sue ceed. And self-denial is an excellent thing for everybody these days.
 Of course, the bankrupt" has still some assets in the form of consider able amount of real estate, but there are many reasons why we cannot ap- propriate that in lieu of the debt. And, naturally, we must prevent the greedy Germans from forcibly seizing it, also. If we cannot be preferred creditors, we must see to it that they are not. | >They must not gain where others have lost. The loss, in fact, must be equally divided as far as possible in accordance with the dictates of eternal justice.
 If Russia repudiates it's national debt, we cannot afford to repudiate Russia. We must apply the Golden Rule and do good to those who have Gespitefully used us and forgive them. This isn't business, of course. but, then "business as usual" is really not possible these days And the Bolshe wiki are not business men," and are entirely inexpert in all those highly complicated and civilized methods of manipulating debt that do not involve the horrible term "repudiation." They really don't know any better, and we should make all charitable allowances for their ignorance, even if we are to some extent losers by their uncouth and untutored methods.
 We make this appeal for cool judg- l ment certain that all intelligent busi- ness men. like Mir. Vanderlip. for in- 1 stance, will understand We venture to say that he will not. be found pour ing forth yolmnns of moral denuncia-