Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-04-04
CONFERENCE
.|..' ON WAR DEBT
IS SUGGESTED
Senator France, Outlining
Plan, Opposes Outright
Cancellation

Philadelphia, April "A plan for
liquidation of the external obliga-
lions of every nation was presented
here tonight by United States Senator
\ Franc of Maryland before the Ameri-
q Academy of Political and Social
Science. Senator France termed I'M
conditional cancellation '.inconceiv-
be-" but maintaining some plan
must be adopted. as international
depts block world trade circulation,
upon which civilization is dependent,
he said:
THE United States should call a
conference of the interested powers
Tor the purpose of proposing to them
this method of settlement. or one en-
bodying these principles. The Ger
man indemnity would be fixed at the
sum which was tentatively agreed
upon al the A~nglo-French eighth
conference, $4,000, 600, 1000. Germany
to receive credit for at least $1,000
100000 on this sum for the marine
cables and for the territories in
Africa and Oceania transferred by
e under the treaty to the Allied and
associated powers.
To Pave Way For German Purchases.
This method of liquidation would
enable Germany to at nee begin to
purchase from England, France,
Russia n the United states what
h SO desperately needs for-the re-
Mobilization of her industries. The
United States would then purchase
from the Allied and Associated powers
for at least $1,000, 600, 600, or possibly
and l would go so far if necessary
for the full amount of the debt owed
by the Allied and Associated powers
to us, these marine cables II these
territories in Africa and Oceania
transferred by Germany to the Allied
and Associated Powers. This opera
ton would give us liquidation not by
cancellation but by substitution Of
valuable assets for securities Of doubt
full value"
Defining this course as one of in
ternational cooperation rather than
imperialism, enator France contin-'
ued:
Worlds Income to Be Increased.
The only way by which the in
creased obligations of the world can
be met is by the increase of the
worlds income through an increase
in the productivity of the relatively un-
developed portions of the world-not-
ably China, Russia and Africa. I'm
der this plan, the United States would
secure the cables and additional ter
ritOry to the extent of more than a
million squar miles, or approximately
one-third of her present territory, the
the major part of this being the valu
able territories in East, West and
Southwest Africa. We would cancel
the Allied debt with the understand
ing hat we would go into Africa. to
which we owe a peculiar obligation,
in.which more than 100000 of our
citizens are vitality interested and
where many of them would seek
larger opportunities, to cooperate
with France and England there in
carrying out a great constructive
with reference to the Philippines.
No League Brings Peace.
S""No league or alliance to preserve
the status quo. to solidify the world
into a fixed mold, to preserve the in
tegrity of empire, regardless of how
the integral parts of empire were Sc
cured and of how they may be held,
Will bring peace. The causes of wal
are definite, ascertainable and remov-
able.
Such a concert Of nations for in
ternational cooperation as I have
proposed, and this suggested method
of debt cancellation is but part of the
Dian-would work for the removal OF
these causes by the elevation and ed
ucation of men. by the spread of civ
iization, by the substitution Of de-
yelopment for ruthles exploitation
by the application Of those grea,
principles to which America is devot
ed which will remove injustice anG
oppression, the most fruitful causes Of
war and revolution"
United States Senator Medill Nc
Cormick of Illinois said:
II shall not abandon one iota o
our debt until disarmament amons
the nations in Europe has beer &C.
complished. and until we have assur.
ance that the states Of Europe will
not fall back again to that condition
which led them to the world war;"