The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1921-04-28
DEFENDING UPON
WHOSE OK Is GORED

Under the above caption The Ian
caster News says:
THE Dillon Herald commends Gov
ernor Cooper's advocacy OF the can
ceiling Of the war debts against the
allied nations of Europe. II sounds
good, but one great trouble with We
Americans is we rush right into too
many things without so much as a
thought as to the result. Who is
the debtor of Europe? A corpora
ton III which all of us are stock
holders; ii was our money that was
loaned TO the countries OF Europe.
Let us illustrate:
We bought Liberty bonds so that
this country could carry on it's part
OF the war and also make loans to
its allied nations; the money we
paid for Liberty bonds was the mon
ey that was loaned to Europe. Now,
let us be fair
Will the Herald or will Governor
Cooper come out in favor of can
ceiling the Liberty bonds? Would
it be anything more than fair. if We
ishould cancel the debts the nations
OF Europe owe us?
Governor Cooper" says the Her
aid, takes a bold stand in advocat-
, ing so sweeping measure, but the
position he takes can be sustained
by the soundest OF logic and rea-
son" Certainly ii can, if We are
. financially able to cancel the debt
; our own country owes. II would
= be a masnanimous act on the part
= Of the people of the United States
TO burn their Liberty bonds and say
To the government: You owe us
{ nCthing"- if We were able. The
Herald evidently believes we are, for
+, 1t says: I'VE can lose what Europe
- owes us and never feel it."
III is true that one working under
Y the burdens of Il heavy debt works in
the dark and with his hands tied
= We have some personal experience
= with that condition, but on the other
s hand it has been the very makine
s of many man TO get in debt and
q get out. Instead of n tending tC
- cause people ITO lose all interest
ill the future" as the Herald thinks
: il would, il should cause man C
: put forth more effort, buckle down
a and get out from under the burden
l. They see nothing before them
: but years of toll" says the Herald
t they have neither the spirit nor the
/ ambition to help themselves, and
: where such conditions exist indus
: trial rehabilitation is a slow and pain
I full process" Is not that rather So
! rious indictment OF the peoples OF
the European nations? Certainly
men who fought like the British and
the French have not lost the spirit
o. the ambition TO help themselves" ."
e In our opinion, Governor Cooper
n blundered when he said in a speech
2 AZ Spartanburg that the best thing
: the United States can do is TO cancel
1 its war debts"
. The Herald is not moved in this
. matter by feelings of sympathy or
| sentiment. We are sorry for the peo-
= pie Of Europe, but our sympathy does
? not go so far thai we want to make
! them a present of eleven billions Of
dollars. The Europeans claim they
cannot pay interest on the debt That
D.. in itself is an acknowledgment that
t'.cy are broke. If they are broke how
can we collect? Germany says Sh"
cannot pay. II Germany cannot pay
how are the Allies to get out OF hcr?
II the Allies cannot even pay interest
. rect Germany 20 pay interest and
principal? Those IN authority It
, Washington (and among them are
.. Democrats and Republicans tell us
. cuT industrial troubles are due 30 The
: in povcrishcd condition OF Europe
: That may be shrewd way OF placing
. the blame where il does not properly =
belong; but anyway business suffers
while Washington fiddles. II Amcri-
can business cannot get on its feet
again until Europe gets where she
can buy the most sensible thing to- do
= is to put Europe to buying. She owes
D us eleven billions. Give it TO her and
Y then lend her more money to start up
t her industries. If her industries arc
= TO continue TO remain idle and the
i price of our raw materials continues
to decline we will lose considerably
more than IL billions of dollars IN
the next five yecrs.
---O