Evening star., 1921-12-31
Scrapping the War Debts.

Much of the comment on what the
Sandusky Register (republican) calls
Brtain's "magnificent gesture" in her
indicated "willingness to forgive all
her own war debtors, on condition
that they forgive theirs" may be said
to be in the subjuEctive mode. The
report. says the New York Times
independent democratic), ''is too
vague to serve as a basis of any
definite conclusion concerning the
debt policy of the ministry" but at
so statesmanlke, and so humane"
that the Houston Post tdemocratic)
thinks ait must be true"
On the hypothesis, then. that the re-
port is true. many papers point out
that 1.-The plan in question need not
be attributed to entirely altruistic
motives to quote the Lynchburg
News (democratic). This would be
good stroke of business for Brit
ain" says the Minneapolis Journal
independent republican,, because as
a manufacturing country dependent
on foreign trade she cannot be pros
Europe RECEIVERS economic balance
and is able to buy her goods" I'm
mediate mutual cancellation" states
the Chicago Tribune independent re-
publican), lis more favored in Eng
land than in the United States. since
the bulk Of our debt is owed by Eng
land and is collectible. whereas the
greater part of the debts owed to
England are probably not collectible."
The effect Of Great Britain's sug-
gested course on the policy Of debt
cancellation by the United States pro-
vokes the bulk of the comment. The
effect Of that policy" the Richmond
Times-Dispatch (democratic) thinks.
'if proceeded with, would be some
what embarrassing to this country"
since 1t is calculated to make that
country appear generous and the
United States selfish and grasping,"
and the situation would be capitalized
ito the further loss of American pres
tige" in France and "in other coun-
tries that supported the allied cause"
washington will be Obliged" in
the opinion of the Cleveland Plain
face one of the most difficult problems
yet presented to 1t if Great Britain
proceeds with a policy of debt can
collation. without regard to the debt
policy of this country" while the
Reno Gazette (republican) feels that
the hand of America in the matter and
place her in the position of an un-
yielding creditor il she fails to fall
in with the suggested plan" That
'insistence by the United States upon
full debt payment is being made diff
cult" is admitted by the Pittsburgh
Press independently.
However. "if they are really going
through with their scheme" the Buff
falo Express independent republican,
thinks, they are to be admired for
their boldness, and perhaps at later
mend them for their wisdom" That
at would produce a marked change Of
attitude in this country, where we
have been disposed to ask that Europe
show some indications of the capacity
for self-help before committing our
fulness," is the opinion of the Man
chester Union independent republic
CAM. MANY respected economists"
comments the Providence Tribune Qn-
dependent republican,, insist that
cancellation must take place, at least
Of the European countries can never
bring their inflated paper currency
UP to par. Some assert that we are
already morally canceling the debts
by refusing, through high tariff, to
allow Europe to pay us in the only
There is reason to suspect an effort to
stampede u.s. We should be cautious"
on the other hand, the Salt Lake
City Desert News independently be-
lieves that I'VE have most excellent
opportunity to be gracious without
being patronizing," and while ap-
parently losing money out of one
pocket, we should be actually and
actively putting it in another" The
New Haven Journal-Courier Gnde-
pendent) thinks the wise all-around
thing is to cancel the debt and forget
it," while the Boston Transcript Gn-
dependent republican, believes that
at may not be best to cancel entirely,
but notifications of the interest pay
ments to a very low rate. with easy
terms of payment, seem to have con-
siderable advantages to those who
have the nations future prosperity
at heart"
That it would be a mistake for tho
United States to yield to the policy
tentatively proposed by Great Britain
is argued by the Johnstown Democrat
(democratic), on the ground that II
the debts owed by the allied gov
ernments to the United States were
forgiven" 1t would mean only that
by so much those governments would
feel free to continue along their Inn
perialistic courses with growing
armies, expanding navies and with
persistent preparations for that next