Evening star., 1921-12-29
Refunding the Allies Debts.

In the collection Of the $4,000. .000.-
900 loaned by the United States to the
allies. Congress has shown a DISPOSE
ton to take a hand BY authorizing a
commi ssion, Of which the Secretary
Of the Treasury shall be chairman, to
negotiate with the debtor countries.
But, according to the New YORK
World (democratic), Congress has re-
tanned the "traditional hot potato
for ito pay even the interest the
United States would have to import
YEARLY s550,O00,Ooo in merchandise
above what we export" since the ma
tions have no gold with which to pay
such a sum or any noteworthy part
of it," and the majority in Congress
ARE still quarreling over permanent
tariff revision. but not one OF theiii ~
dares to suggest a REVISION WHICH 10
calculated to make it easier or even
possible for the debtors 10 pay 'he
yearly interest due"
Since there are only two ways OF
payment-in gold or in goods, says
the St Louis lobe-Democrat lrepun-
lican), "and. we have more gold now
than we need, oas v,;thout nor can Hurting ting
us as well as Themselves, no puphS
oninion can be intel1igently expressed
in the matter until the American
people have absorbed these facts.
The interest provision per cen. NJ
semf-annually," thinks the Newark
News independent), has too much the
look Of trying to wiring the last nickei
nossible from our friends overseas,
since sit is more than we PAID 1or tne
use of the money and at greater
rate,than the government now Is pay
ing in the open market on it's short,
term notes. Morally. can we afford
to profiteer?" 1t asks. The Birmng-
ham News (democraD looks upon the
stipulation that the first payment OF
interest must be made on July l, !sLL,
as unworthy of Senator Simmons or
anv true American citizen whose sym
nathies were extended to our allles IN
the great war" and "even vulgar, FOL
lowing close upon the heels OF tne
announcement from Paris tnat ooIIi
France and Great Britain probanly
would grant Germany a reparatlons
holiday. 1t is exceedingly nasty, at
a time when representatives from
nine great foreign governments are
celebrating solemnly on n measures measures
TAXATION from the backs of the tax
payers of all countries" rhat
WORKING arrangement can be made on
any such formula" says the Provi-
dence Journal (independentl: nonooy
he he r. made @ with one country that it
e,,id De ta"q 1v;+h another" since Great
Ryitain's resources and ability to be-
gin regular interest payments ior III
Stance. are not the measure OF 70
iaII The Philadelphia Bulletin dnde-
pendent republican,, referring 10 .ne
nroyision that the commission shaii
expire within three years, tnlnks ~
may require, more than one SET u
financial and diplomatic orains s TO Sc
cur turss of % all the. foreign debtor gov
arnments on the dotted line" We do
nnt want to. bankrupt our friends
states the Great Falls Mont)
leader (repuhlican). Besides pank-
rupt nations could not buy our s1ous
;rhe, consent of the allies to grant
Garmanv a three-year breathing
sneiI' has contributed much to this
more generous mood. If the allies are
going to give their enemy more tlme'
We can do no less with our friends.
for' the payment of the principal. the
Sioux City journal (Eepublican)
thinks. "would give Europe an op-
norfunity to work out it's financial
and: other economic problems and to
develop new wealth with which to
States" The Norfolk Virginian-P blot
(democratic) thinks lat least that
time must elapse before financial re-
coyery will permit the debtors to meet
these obligations" and the Oklahoma
City:Oklahoman (democratic) believes
cit remains to- osbe-determined whether
Dr. not the Senate funding bill pro-
yides the proper length of time for
the, FUNDING obligations to run"
The passage. of the bill is urged by
some papers on the ground that it is
due, the debtor nations "to know what
is ii store for them in the credit sit
,iation," to quote-the; Baltimore Amer
fcan (republican). The financial
budget presented to Congress includes
in delicate form sta tement of taxes"
says..tlIe Bnr4i4Eton (Vt;) Free Press
Fin fndapYartefrt3ss- = ...vhfch eoar- people
must pay to meet obligations that
would otherwise be paid by the in
|terest received from Europe on what