Evening star., 1919-04-06

was billion dollars. Taxes were .hieh
even then. Interest on the war debt
will be . billion moro annually. II
the debt. half biiIs5R iiIs55eR'dns IN ADDITION. az Ray
yearly. will be required during the
next quarter Of a century. It can be
seen, therefore. that the billion yearly
previous Pre- . to 1917. raised by taxes on
come two and half billions after,
say, 1919. 1t may reach three billions'
A semi official telegram from Paris
recently stated that the financial COM
mission Of the council Of great powers
made report on "the reapportion.
ment of the war debts Of the allied
nations on a fair basis"
According to the French view" the
telegram further read, "the huge
debts piled up by the war have fallen
unduly on France. 1t Is maintained
that a certain portion of these allied
war debts should be pooled, so as to
be international obligations, instead
OF being carried alone by France"
And so the question as to the pay.
ment OF the loans made to foreign
countries by the United States 10 be.
ing discussed among members Of Con.
eresS and other officials in Washing
ton. It was understood some time ago
that Mr.. Clemenceau and the premier
or italy had spoken of the possible
desire of the United States to assume
its share OF the total cost of the war
from the opening Of hostilities in 1914
to the conclusion Of peace.
In the opinion of Charles H. Sloan
or Nebraska, banker and a member
Of Congress. the language of Mr..
Clemenceau and the Italian premier
contained a definite hint that we for.
give their debts" meaning the two
and a half billions. approximately,
borrowed by France and the billion
a hr,
Officers Of the Treasury, however.
assert that no suggestion from any
country has ever been made to them
that the United States cancel it's for.
eign loans. They" Mr.. Rathbone
said. speaking of the representatives
ways expressed the purpose of their
governments to pay the indebtedness
and have said that they had no in.
tention of doing anything else.
1T Is true" Mr.. Rathbone contin.
ued, there have been one or two
suggestions from statesmen, not hold.
ing public office. that the debts should
pc forgiven. There is no body under
heaven, however, that can write off
the debts but Congress The Treas
ury Department does not advocate and
never has advocated anything but the
payment of every one OF the loans.
All the statements made by repre-,
SeHtatiNeS Vi tne foreign governments
Il have in mind particularly the
British-have been to the effect that
1t would be unthinkable that their
governments should not pay their
debts. They say that they do not
want charity; that they have Dor.
rowed the money and intend to pay"
The wise men of Washington see
long period Of sacrifice and econ
omy to be met by the people of this
country. Other men. not 80 wise,
have been introducing wild bills CALL
ing for immense sums of money in
both houses of Congress. Such bills,
Senator Penrose declares, would, II
passed, call for the expenditure OF
SO. 900, 100000. senator Penrose is Q
republican. But Charles s. Thomas,
the senator from Colorado. is a demo.
crat. and he also is vigorously de.
nouncing the orgy of extravaganza"
as Penrose calls it, in which the
United states has for long time
been engaged.
1t is possible that the government,
after 1t is through selling its own
bonds. will turn it's foreign loans
into British, French, italian and Bel
gian bonds and offer them for sale
to the American people. The United
States needs ready money now and
the need will continue for many
years to come.
Copyright 1919, by James II. Mmrow.D