Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-11-29
UNABLE TOPAY.
Continued from Page orc)

The full consequences would be
profound" ne said. IF the payments
could be made and were made with
any degree of promptness. We need
not look further than to contem-
plate merely the receipt of $500
WO,OOV year of interest. If that
came in the form of goods our in
dGstrial situation would be upset in
a way and to an extent we have not
heretofore experienced. The effect
upon our labor situation and the
consequent social problems which
would be raised, would be menac-
ing"
AS the first postulate in his plan,
Mr.. Nanderlip said he would lay
down the principal that the allied
debt was a just debt, legally and
morally, and whether it could lie
paid or not. it should be cheerfully
and gratefully acknowledged as a
just debt.
Next, I would want America to
be both an intelligent and lenient
creditor" he continued. Terms of
payment ought to be adapted to the
means of our debtors. In that re-
srect we should take the action of
the Allies in fixing the terms of the
indemnity as an example to be
avoided rather than followed.
The cruX of my plan would lie
in the disposition of the payments.
Il would have America make a
beau jestc; grand gesture in in
ternational relationships. While de-
manding that the payment be made.
l would have America say that she
is prepared for the present to forego
the receipt of it,"
Concerning what should be done
with the money paid back, Mr.. Van
derlip said:
II would like to see every dollar
, that can ever be paic 70 us by our
debtors for years to come. devoted
to the rehabilitation of European
civilization. 1t is only through such
rehabilitation that these debts can
ever conceivably be paid. 1t is only
through the reha biitatior of Euro
rean civilization that America can
ever conceivably realize in full
iitt elouI z ilti ucSltIlH. vi td1 expect
full. measure of prosperity for her
people"
He believed a plan for the devel-
opment OF Eastern Europe could be
laid out. he said. comparable to the
vision our forefathers had when the
latent possibilities of our great
West We're unfoded 70 their minds
'ENpJ., 4 u inc
he added, Everything an unwise
peace is costing, can he recon-
pensed. and beyond that a great
economic margin created. if East
ern Europe can be put i'll order. can
be helped and led wisely to handle
it's own problems. if the people of
Eastern Europe can be made to
comprehend their economic unity.
if they can be brought to under
stand that in the welfare of all ma
tons. lies the highest prosperity of
each"
TO program of this kind. he de-
clared, he would devote for many
years every dollar this country
could get of the allied debt.
we need not make an irrevocable
decision when we mbarl1 on this
program. For a good many years.
1 believe it would be wise for us to
devote all we receive to such pur-
poses as 1 have suggested. 1t is en-
tirely possible. however, that there
would come such economic restora-
ton that in the end. a considera bic
part, conceivably nearly all of the
principal. might be paid to us. In
terest money that we loaned and
re -lo 1ned for economic development
would be converted from the orig
inal obligation of the Allies to obli-
cations representing material prop
critics which we created. and prob
ably backed by the obligations of
the governments of those countries
where this economic development
took place. The time might come
when we would cease to make
these sums revolving credits for
European economic development,
because there really would not be
further need for us to do so. Then
the money would come back to US.
II am firmly convinced that in
the great catastrophe the war has
brought. there has been created an
opportunity which could never
otherwise have arisen. The OBJ
stacIes which have arisen in the
path of European civilization can
be turned into stepping stones Ie&
ing to position vastly better than
anything Europe has ever known.
The war has made a great awaken
ing in millions of dormant minds.
1t is possible that newly awakened
impulses, if they can be harnessed
to the machinery of production and
distribution. can result in a great
actual improvement of civilization
That awakening. those impulses. are
now disconnected from any machin-
cry of commerce. and they may all
be lost in decaying civilization. We
can help to turn them to account
The possibilities that ,here are in
society for realizing better condi-
tions for all humanity are I'M
dreamed of. The opportunity has
arisen to make these possibilities
realities.
IF we insist to the letter upon
our claim, our claim will in all
probability never be met. II we in
sist upon it selfishly we will realize
in hatreds. but not in cash. If we
are generous, and wisely generous
those claims can all be paid. and !
believe will all be paid. and the
good We do with them will mean
more to us materially than anything
we could conceivably be parting