The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-10-04
WON'T DISCUSS
WAR DEBTS AT
DISARM PARLEY
Rur77ors Are Discred-
tied by State De-
p0rfY77eTlf.
BY DAVID LAWRENCE.
Copyright, 1929


uenL WIN me armament conference
there will be a gathering of fnan-
ciers of all the powers to settle the
question of war debts. Department
of state officials today pronounced
these stores as without foundation
so far as this government is con
cerned.
Everything under the sun"
would be discussed if all the sug-
gestions being made were 10 be act
ed upon. in the opinion Of govern
ment officials who point out that the
agenda already made public indi-
Gates the scope of the conference.
Idea Is European.
There is evidence that the inter
national fnanciers of European
countries are behind the constant
suggestion of a financial parley
although, to be sure, some Amer1-
can bankers are reported as inter
ested. This, however, is taken here
10 mean that European financiers
are urging action through their
American connections. For the fact
is the American banking groups as
ment to convene a financial confer
ence and there is little likelihood
that such suggestion would meet
, with favor.
Many reasons can be given for
the prevalence of this attitude
First, there was a good deal of criti-
cism when our government included
far eastern problems in a discussion
of armament limitation. Some mem
bers of the cabinet feared that to
include so troublesome a question
as relations with Japan involve the
! conference in endless discussion
which would only force into the
background the real object of the
gathering, namely, a reduction of
armament. This viewpoint has
/ been answered by Secretary Hughes
by arranging the agenda SO that
discussion of armament will go on
concurrently with. the tackling of
Pacific problems. In other words
committees win work on all parts
the reports will be taken up in no
: set order.
Would Cause Fad Feeling.
/ AS for including financial ques-
tions, the feeling is that the agenda
of the conference already bites of
as much as it can chew" and that
/ to lug in the intricate subject of
war debts might only produce an
! tagonisms and disappointments
which might effect the success of
! the other conferences. European
nations may not as yet be convinced
] of it but the truth is our govern
ment is not in the mood to talk can
, collation. of war debt or even a gen
eral funding scheme, however sound
economically the basis for such ac-
tion might be. A glance at what is
/ happening in congress, it is CON
tended, ought to satisfy the Euro
pean financiers. President Har-
ding's simple request for power to
negotiate with foreign governments
/ for the payment of principal and
interest owed US is held up largely
. because of a suspicion that such
power if granted might enable the
executive to cancel the debts
through acceptance of European Sc
curities of doubtful value. If
therefore, this power isn't granted
now, how much chance would there
be to get it if the European coun-
tries stirred up the question OF can
| collation. of war debts?
Finding Talk Premature.
Issues OF European newspapers
as well as cable reports to Aneri-
can newspapers indicate much
more lively interest in the war deb
in connection with the Washington
conference on armament that Is
welcome here. UnQuestionably the
British and French delegations vii
be composed of men who will bt
authorized to find out in the mos
informal way what can be done
about funding existing indebted
ness. American officials could no
decline to listen TO suggestion
when made at the dinner table or IL
other informal conferences apar
from the main program. muci
business is transacted that way II
international conferences, but JudS
ing by the appearance of things 10
day in. official quarters such ad
vances will not lead to anything
tangible. The Europeans will b.
told that cancellation is out of tn
question at this time and that ever
the talk of finding is premature ant
will be inopportune until congress
grants the treasury department SUI
= ficiently broad powers to enter int
negotiations with the credit gov
! ernmentS