Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-02-26
No Understanding Was Had
at the Peace Conference
That the Indebtedness
Would Be Cancelled.
tBy The Associated Press.1

arrived at in Paris" said the fl
nancier. between President Will
son and his advisers on the one
hand and the French and British
on the other, to the
effect that allied Indebtedness to
the United States should, in whole
or in part be cancelled or forgiven,
All suggestions Spurned.
"There amt no such thing.
From start to finish of the peace
conference President Wilson and
his advisers, without exception, OPP
posed vigorously and finally, any
such suggestion or proposition OF
cancellation. There was no com
mitment expressed or inferred nor
remote, moral or otherwise, as to
the handling of the allied indebt-
edness to the United States gov
eminent. All the main facts in the
suggested arrangement for the sub
stitution of German for Belgium
bonds were made public at the
time.
''1'he whole question of interna-
tional debts is a most important
one. The American people must,
in the last analysis, determine il
upon the principle of what course
is best calculated to benefit the
world as a whole, including Amer
lea"
Deprecating Americas lack OF
representation on the permanent
PREPARATIONS commission, Mr.. La
mont said
This commission, in my iudg-
ment, has been in a considerable
measure responsible for the Ia
mentable delay that has occurred
in fixing the amount of German in
demnity.
"Our failure to name n delegate
for this commission has been moi
merely a great disappointment tC
our former associates in the war
but has, | believe, been largely re.
sponsible for the continued econo.
mic unsettlement in Europe with
its unfortunate reflex upon oul
own industrial and commercial
business"
German Indemnity.
The $4,000, 100000 which Ger.
IilbIlJ was llOlllltu HIlt IIIubl pay
over a series of forty-twO years by
the recent settlement at Paris, Mr.
Lamont said, if amortized at i
per cent and brought back to pres.
ent values. would represent cap.
ital sum of about thirteen billions
plus whatever amount Germany
mad already paid on account.
Now if even the most moder.
ate of the experts figuring at Par.
is" he added, thought that Ger.
many could pay a capital sum OF
ten or fifteen billion dollars so that
not counting the so-called export
tax which is a part of the recent
Paris settlement, the schedule ar
rived at does not seem to be I'M
reasonable.
Certain it is that the allied and
associated powers would be de.
lighted to receive as a PREPARATION
a capital sum today of $4,000, 000,.
600 rather than what that sun
would amount to with interest
spread out over a series of thirty
or forty years"
Reperations Commission.
Mr.. Lamont dealt extensively
with the discussions at Paris and
the reasons for the decision tt
establish a permanent Preparations
commission. He questioned the
wisdom of Lloyd George and Gle
menceau in insisting upon such
high figures from Germany. main.
tanning that the popularity of each
was so great at the time that they
could have outridden, or ever
profited by. the political storm
which would have resulted in theil
two countries had they been willing
to agree to a small figure, which
Germany could have paid, ant
which would have gone far toward
settling the worlds economic con
dition.
He told how General SHUTS fin,
ally convinced President Wilson
that pensions should be included II
the reparation bill. Some of the
experts. he said, gathered in the
presidents library and explained
to him that they could not find {
single lawyer in the American del
egation would give an opinion il
favor of including pensions. ant
that all logic was against it.
wilson said ''Damn."
Logic! Logic!" Mr.. Lamon
said the president exclaimed. :"
don't give damn for logic an
going to include pensions
"There was not one of us in thu
room whose heart did not beat will
n like feeling" said Mr.. Lamont.
~ am going to take this oppor
tunity," he continued. ito say {
/ word in general as to Presiden
wilson's attitude at the peace con
ference He is accused of havins
been unwilling to consult his col
leagues. I never saw a man more
ready and anxious to consult thar
Inc. He has been accused of hav
ling been DESTROYS to gain credit TO
himself and to ignore others,
never saw a man more considerat,
of those of his coadjutors wht
! were working immediately undei
him, nor a man more ready to give
them credit with the other chief
of state. -
"president Wilson UNDOUBTEDLY
had his disabilities. IL it came L
horse trade, Lloyd George coult
undoubtedly have out iockeyed
him; but it seldom reached. suci
situation, because President WI
son, by his manifest sincerity ant
open candor. always saying pre-
cisely what he thought would earl!
disarm his opponents IN argument
president Wilson did not nay,
La well organized secretariat SUN sur,
He did far too much of the Worl
himself. In execution we all hav'
"a blind spot in some part OF GU
eye. President Wilson's was M
inability to use men; an inability
mind you, not a refusal. on tn
contrary. when any of us voiun
teered or insisted upon taking re
sponsibility off his shoulders, N