Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1920-01-03
SEEK TROUBLE
BETWEEN u. S.
AND ENGLAND
That Purpose of Story of
Loan Sought By Wis
count Grey.
BY DAVID LAWRENCE.
Especial to The Argus,)

States to England or France are
out of the question. Publication of
a story to the effect that Viscount
Grey went home with the pledge
of the Wilson administration for a
S13. 600, 900 900 loan has revived the
subject of international finance and
given the treasury department an
opportunity to place its views un-
equivocally before the public. Here
is the way one of the assistant Sec
retaries of the treasury phrased it:
IF England really wanted $l3,-
600, 100000 in credits In the United
States, she could not spend that
amount in five years. II she want
ed that sum, the treasury would
certainly not agree to recommend
such a loan to congress. II the
treasury did recommend 1t, con-
gress would certainly not agree to
it. And if congress did agree. the
money could not be raised from the
people Of the United States. That
all there is to it."
Against League.
The purpose of the story is con-
sidered here to be interviewer with
the campaign against the League
of Nations. Opponents of the treaty
have sought to make 1t appear that
the United States is yielding every
thing and giving away everything
to Europe and particularly Great
Britain. For instance, in the last
two weeks much discomfort has
been aroused in quarters where
anything anti-British finds a favor.
able reception, in the matter Of
the big German ships which were
ordered returned to England. AS 9
matter of fact, the solemn word oi
the United States was pledged tt
give these ships back to England
immediately after our war depart
nients got through transporting
troops to America. The fact tha
England was delaying the return
OF some ships belonging to Amer
lea was the fundamental reason fol
the shipping boards disinclinatior
to recommend the return of the bis
German liners. but President viii
son took the position that America
would keep her pledges regardless.
Of the outcome or merits of thu
controversy which had separated,
arisen over other ships. Indeed
/ the United States confidently ex
poets England to adjust that ques
ton in due time.
Had No Basis.
But the publication of the story
about a s13,000,000,000 loan doe.
not have even the basis which at
| taches to the controversy ovel
ships. Yet the two together art
pronounced as part and parcel OF
the campaign to keep antipathie.
alive between the United States an(
England. As far as financing Eu
rope is concerned, a great deal O.
| misapprehension has been let loose
in an effort to make it appear tha
the foreign policy of the executive
branch of the government today i.
merely the outgrowth of desire
to keep on loaning American funds
/ to rehabilitate Europe. Since thu
armistice the United States govern
ment has loaned about $2,329 600,
| 900 to the allied governments
mostly as credits for American
foodstuffs. so that America hat
| hardly be accused of illiberality
On the other hand, the viewpoint
of the United States government
cannot be better presented than il
the words of Secretary Glass him
self, who says:
"The treasury believes that thu
need of Europe for financial as
sistance, very great and very rea
though 1t is. has been much ex
aggerated both here and abroad
Our hearts have been so touchet
by the suffering which the war lef
in its train. and our experience i
so recent OF the financial condi
tions which existed during the wa
when men were devoting them
selves to the business of destruc
tion, that we are prone to over
look the vast recuperative powe
inherent in any country which
though devastated, has not been de
populated. and the people of whic
are not starved afterwards.
I'VE must all feel deep sympath
for the suffering in Europe toda,
but we must not allow our sympa
thy to warp our judgment. and, b
exaggerating EurOpe's financis
needs, make it more difficult to f
| them. Men must go back to wor
in Europe, must contribute to il
crease production. The industrie
/ Of Europe, of course. cannot be 50
to work without raw material