, 1921-07-05
A SAMPLE OF BRITISH POLICY.

There are still those who argue for cancellation of
the war debts due the United States. From an Utop-
ian standpoint it is a most beautiful and worthy dream
and thoroughly American in its conception, had we at
any point failed in our duty as a civilized nation dur
ing the war. If we had, no one would have had to
even suggest to us that we balance accounts and close
the books. We did not fail in our duty, men, money
and material were all thrown into the vortex of war
and they won the day and saved the world.
The money owed. America, some ten billions or
more, came from the people of America it was loaned
for the same purpose other billions were loaned, for
the purposes of our own government The Amer
lean people have subjected themselves to enormous
taxation for many years to accomplish the things that
came to pass. The debt should be repaid scrupulous-
y dollar for dollar with the interest. 1t will be noted
that the nations owing the United States did not hesi-
tate to divide up the colonial and other outlying ter
ritory belonging to the central powers, worth many
times the principal debt which the allied powers raised
from our people. Further, the allied powers, our
selves excepted, are collecting from the defeated
countries punitive damages in the billions. And
while Great Britain is advocating a shifting of war
burdens to our people she is bending every energy to
develop her foreign trade and rehabilitate herself at
our expense. From the very day the armistice was
signed she hs lost no opportunity to regain her for
eign cCrtomers and more especially in countries IN
the western hemisphere naturally belonging to the
United States. The desire and effort to restore for
mer trade conditions and win new markets is in it
self not to be censured, but we do not look with COM
paisance upon the expenditure by Britain of huge
sur7s of money to displace US in markets which we
enjoy and then ask us to excuse debts she justly owes
US. We are perfectly willing to engage in a trade
contest with her but we are unwilling to finance the
nation thus competing.
An impressive luuSCraClOn OF the meLnOQS uSeQ Dy
Britain in promoting her commercial interests is seen
in the substituting of the British coal industry. The
normal production of coal in the United Kingdom is
E5out 270,0 o 900 tons, of which about 10, 900, 600
tons is exported to European and South American
countries The United States produces a little more
than half a billion tons annually and exports less than
5000, 900 tons to trans-oceanic nations. Great Bri-
tain has been maintaining government control of the
industry under a guarantee against loss, with the re
sull that prior to the strike mines were marketing Goa
at less than cost of production and, according to re
ports from Europe, the British treasury was called
upon TO pay some ten million pounds sterling to max,
the guarantees good during the month of March
This was q subsidy of $500 600 in one month il
an effort to enable British coal to regain or retain it
markets in Europe. The period of control has ex
pired, the strike has just been settled, and British of
fcials have agreed to a resumption of the subsidy.
1t is estimated that, at the most, American Goa
would come into successful competition with Britisl
coal to the extent of only ten million tons in a year
or about one-seventh of the quantity Great Bltai
exports.
No exception can be taken to any effort Britain ma,
make to develop her industries and her commerce
provided she does it with her own money and her ow-
ingenuity. But in these days American taxpayer
arc going down into their own pockets for money I
pay the interest on Liberty bonds, some FIVE billio
dollars of which were issued TO raise money to loa
10 Great Britain, and the debtor is not paying the ir
tereat- In other words, the money that is due as ir