The labor world., 1921-10-01

No cancellation of foreign war
debts EXCEPT that the European ma
tions and Japan shall agree to a uni
form and progressive ratio of disar-
nament, in which event the United
States will reduce the debt those
countries owe to us to the same ratio
and extent.
The above suggestion was made to
President Harding this week by j. A.
H. Hopkins, executive chairman of
the Committee of 48, in letter sent
to him in relation to the coming dis
armament conference.
Il am inclined to believe that there
Is a considera Bile element Of the
American people who consider that
our government should demand from
England, France and Italy the imme-
diate payment Of the interest already
overdue, applicable to the vast sums
which we loaned to them in the pros
ecution Of the war;" writes Mr.. Hop
kins.
IT am equally convinced that it is
not the desire of the american peo-
pie to consider for one moment the
era atituous cancellation of these debts,
either in respect to interest or prin-
cipal.
"Furthermore, am heartily in ac-
cord with the popular yearnlng for
disarmament and world peace, the
desira bility Of which you have SO
often voiced.
"This naturally suggests to me the
following question:: Are the Amerl-
can people prepared to instruct our
delegates to state openly when the
conference convenes what we want
and what we will pay for it? If so,
is perhaps not inappropriate to sug-
gest the advisability Of submitting the
following ultimatum to the English,
French and Italian delegates:
I'VE will not cancel your indebted
ness gratis nor are we content to lon
ger postpone the payment of the over
due interest thereon. But if you and
the Japanese delegates will collec-
lively agree to disarm or agree upon
a uniform and progressive ratio Of
disarmament America will join with
you in so doing and will simultane-
ously cancel or reduce your indebted
ness to the American people to the
same extent and in the same ratio.
which the American people will con-
sent either to cancel or to reduce youc
financial obligations"
The acceptance Of such an offer
would be economical for all con-
cerned. 1t would solve the problem
and achieve the purpose for which the
disarmament conference was called.
It would reduce enormously the
bursting tax budgets Of every nation
and relieve the increasing financial
pressure which is closing in upon
every individual.
ut is not unreasonable to suppose
that such an agreement would meet
with the hearty appreciation of the
American public. Will you, as the
mouthpiece Of 110,OOO,OOO people,
take cognizance of this suggestion and
ascertain through the publicity chan
nels which are open to you whether
in presenting such an ultimatum our
delegates would be correctly voicins
the wishes and desires Of our citizen
ship"
In connection with the above, Mr..
Hopkins said today:
AT a time when we are groaning
under the Durden or excessive taxa
tion, it is appalling to realize tina:
over 80 per cent of our national bud
get has been set aside to pay for pas;
wars and to prepare for future con-
flicts. The reason for this lies in the
fact that our banking group which
controls both the Republican and the
Democratic parties has become frank
ly imperialistic. The immense profits
accumulated at home require invest
ment and seek more lucrative fields
abroad. Those who risk their capita
in foreign exploitation demand the
guaranteeing of their investments by
an all powerful army and navy.
"The supreme issue is the breaking
up of our present financial control.
THE committee OF 4S has already
pointed out that this situation canno;
be renedied except by the organiza.
tion of 4 new political party pledged
to the abolition of privilege. Con.
structively this means tho public
ownership and operation Of railroad.
and the public control OF our natura
!!s-1 H 4T - NJ @