Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-07-13

territorial transfers were made; we re-
joice that the European enemies Of Ger
many were thus strengthened and en-
riched; we are happy that the United
States did not take a foot Of soil or
profit in any way by so much as a dollar.
But surely It Is not ungenerous Of us,
the one aud only nation that acquired no
material gains from victory, bet, on
the contrary, achieved a debt hitherto
unheard of or unimagined-s surely, 1t is
not unworthy of Us to take Into account
the historic and unprecedented terri
torial acquisitions Of debtor nations In
estimating the truth Of their alleged in
ability to pay.
I'VE also should include the trade pO-
sition Of the debtor nations. From every
point of view the situation Of these coun-
tries with respect to foreign commerce
is excellent Indeed. it may be said to
be commanding. II is at the very least,
superior to that Of the United States
Infinitely superior.
"Of equal weight is the indemnify to
be paid by Germany to the nations Ia
debted to the United States. In fact this
element is perhaps Of more immediate
consequence In estimating the resources
Of debtor nations than are the elements
Of territorial conquests and world trade,
although Iue lailsE HIes o. touAHHs AdA
greater in value than the German rep
aratiofs.
Moreover. the land accessions are per
manent assets, certain to Increase Ia
riches; while the commercial advantages
over US will endure for many years and
can be overcome, at last. only by funda-
mental economic legislation on our Part,
supplemented by herculean, systematic.
steady and continuous effort by American
business men.
The amount which Germany has
agreed to pay to the European allies is
more than three times greater than their
total Indebtedness TO US.
"Since sound and convincing economic
reasons are wanting, can the debtor ma
lions urge cancellation on high and
solid moral grounds? If So these nobler
considerations should be advanced frankly
and with all possible power, since, as Is
well known, the American people are far
more responsible to such appeals than
they are to mere material arguments.
"Statemanship and the sound sense Of the
people must be brought to bear upon
this vexed matter. which, thus far, has
been dealt with largely-almost exclusive
ly-by emotion ably and subtly directed
by skillful. highly organized and, seem
ingly. highly financed foreign propa-
ganda- The time has arrived Wnen even
the dullest and most obstinate realize
that the well being Of the American people
is in serious jeopardy and that their
economic plight cannot be trifed with.
when excellent farms, carefully TILED
and managed by Woodworking, In
telligent. educated, prudent and ex-
perienced farmers cannot produce
enough to pay the current taxes on
those farms; when seasoned, energetic
and hitherto successful business men
are being crushed into insolvency; when
industry is so depressed that millions Of
American workingmen are idle and I'M
employment Is on the increase; when
salarled men and women are being driven
to desperation by high costs of necessi-
ties and intolerable government ex-
actions; when investment in sound and
needed industrial American enterprises Is
almost impossible because investing
capital is commaudeered to supply pub
lie revenue; when conditions exist OF
which the well-known facts mentioned
are only manifestations, the correlated
problems of foreign debt and national
taxation require the clearest possible
thinking applied to bedrock facts"
Mr. Stevenson, in his talk, stressed the
importance of the legal profession and
it's duty to the community.