The Little River news., 1920-02-04
SENATORS DEMAND THAT
 EUROPE PAY THEIR DEBTS
Plan to Postpone Payment of Interest Severely Criticised; All Nations
 Should Pay the U. $.

pOStpOn1ng payment OI tneiT ueptS lo the United States in order to engage in ambition and highly expensive enterprises were made on the Senate floor yesterday
 The criticism came largely from the Democratic side of the chamber as result of the defendant of in terest payments to the United States by the allied governments and be- cause of the frequently rucurring sug- gestion from abroad that the United States ought to cancal the $lO,OOO,- O0O, ,OOO loaned to the allies during and since the war,
 Senator Hoke Smith of Georgia read into the Record statement showing that the interest due the United States from foreign countries on ac- count of loans advanced amounts to $325, 100000, of which Great Britain alone owed $144,440,837. He said he had been informed that the Treasury Department intended to defer pay ment of this interest for a few years.
 No Interest is Paid.
 "Has any interest been paid by any government? asked Senator Norris of Nebraska.
 T understand none," said Senator Smith. "This may relieve the minds of some of those who are still dis turbed upon the theory that we have done nothing for these European countries and that the responsibility is still on us to do something for them lest we be considered slackers in our treatment of European interests"
 Senator Shoot of Utah said that Senator Smith was entirely correct in his statement that the Treasury De- partment intended to defer the inter- est in payments. He said:
 ''In some cases it will be neces- sary to do this, because if the United States forced some of the weaker na- tiOns to pay it would merely have to loan the money with which to pay their interest. That, however, is not the case with Great Britain and the other large countries,
 Perhaps, if Great Britain paid her interest, the United States could use the money to loan to some of those other countries" suggested Senator Smith.
 Senator Walsh of Montana said that the debate on the new aircraft bill had disclosed the fact that several Eu- ropean countries which are deeply in- Gebted to the United States are now engaged in mos: ambitious and highly expensive projects to increase their air forces In other words, they are carrying on great projects of mill itary organization with money fur nished them by the United States"
 Senator Phelan of California de- clared that he was utterly opposed to having the United States furnish mon ty to European countries for them commercially rehabilitation and that England and other countries which are now using American mon- ey in the attainment af maritime and supremacy should be com pelled to pay their debts. The sena- tor said
 q am opposed to this policy on the ground that the people of this country are carrying unprecedented burdens and that charity does begin at home. A mistake would be made if we were to do anything tending to Europe; and as long as she is considered decrepit, ill and ailing, and led to believe from our solicitude for her warfare that she is unable to help herself she will remain helpless.
 Would Reduce Taxation.
 '"The financiers of America will look after the internal concerns of the people and see that the great bur den of taxation which they now bear is speedily reduced, and one of the best ways to do it is to collect our interest from Europe, because down in the stockings of Europe we know there is money; as France and Eng land are exploiting the oil leases of South MeXica and South America with money which should be put into the United States Treasury in payment for the enormous advances we have made as necessary to pre- serve the very existence of those coun- tries, They are now going into our fields and interfering with our trade by reason of our bounty. Why should we indulge that payment of interest when the money which is ours is used against our larger interests in the world of commerce and trade and of war? Let these nations pay their bills before they indulge in their luxuries ..... e