The Barre daily times. (Barre, Vt.) 1897-1959, 1920-03-09
The War Loans and the British West
Indies.

Suggestions that Great Britain trans
fer to the United States her West In
dian insular possessions in payment
for her war loans from the United
States treasury are not welcomed prob
ably in British government circles, II
the question were put in Parliament
some minister would answer that no
such proposal would be considered se
riously British public opinion would
be satisfied by the official disclaimer,
but the British public would not be
sufficiently enlightened perhaps as to
the reasons for the West Indies propos
stamp whatever
The proposal that Great Britain give
up her West Indian possessions to the
United States in return for the can
collation. of some $1,000 100000 Of in
debtedness to our treasury finds Amer
leans more receptive than they would
be. probably, but for recent attacks ON
the economic clauses of the peace
treaty by British liberals which almost
invariably eliminate in constructive
program of treaty revision involving
the altruistic cancellation by the Unit
ed States government of its entire list
of war loans to the entente powers.
Prof. John Maynard Keynes in his book
assailing the treaty goes so far as 10
say that ii the interallied war loans
are not cancelled they may be repudi'
ated ANYHOW. He even calls the inter
est charges "tribute" and thinks they
will not be paid for more than a very
few years at the best, adding as re
Election of his own opinion: They do
not square with human nature or agree
with the spirit Of the age"
Such a sentiment from an English
economist is bit startling, for the
debts were honorably contraeted and
the money was loaned on the distinct
understanding that ii would be paid
back. No debt perhaps squares with
human nature" for no one enjoys set
Ting up with his creditors, but it Is
strange doctrine that the payment Of a
debt does not agree with the spirit Of
the age" II the advanced liberal crit
les Of the peace treaty can do no better
than this in suggesting a constructive
program of economic revision of its
terms, the outlook is not promising,
n The loans Of the 'nite1 States treas
ury to entente countries amount to
about $4,000 ,00O. 900, Of which about
half went TO England, Our English
! friends must remember that the United
| States has got out of the war no ter
| ritorial increment whatever, no gold
mines, coal deposits or oil wells, no
new naval stations or maritime bases
anywhere in the world. On the other
hand. we understand perfectly how
enormously the British empire has been
aCgrandi7ed by the results Of the war
Din actual Territory. Besides, Great
Britain has been freed absolutely not
only from the competitive menace Of
imperial Germany and its fleet but
also from the standing threat Of i'm
perial Russia 10 the British empire in
the near East and in India. Relative
10 Europe. Great Britain has emerged
from this war stronger even and more
secure than she did from the Napoleon
IT, wars
When English liberals of the sd-
vanced school. or any other school, base
their proposed reconstruction Of the
peace OF Versailles on the cancellation
OF Americas war loans, they must con
slider at the same time how the plain
folks OF this country under such pro
gram could best be convinced that Brit
ish unselhshness was equal to their
own. It would hardly do to point out
that Britain also would cancel war
loans to her allies equal to the British
borrowings from America. After the
cancellation of the interallied loans,
Britain would still have her enormous
territorial increment in Africa. the
southern Pacific islands, Mesopotamia
and around the Caspian sea. The
United States would have nothing TO
show. not even a mandate.
What is needed, perhaps, : some
dramatic act Of self abncgation by
Great Britain to convince the world.
especially these troublesome skepties
in America. that even IN revising the
peace treaty on truly liberal lines Brit
ish interests somehow would not gel
fresh advantages economic and Politi-