Evening star., 1921-11-09
Editorial Digest
Those Foreign Debts; Collect or
Cancel.

Cancel.
Two circumstances that have start
ed the American press to editorializ-
ing. on our foreign debts are the
passage by the House OF Representa-
tivss Of the administrations refund
! ing BILL. with, notifications, and the
pronouncement by Reginald McKen.
ma. former chancellor Of exchequer
of Great. Britain, 70 the effect that
! it would be desirable; as a recon-
| struction measure, II America and
Great Britain would agree to cancel
! their debts, coupled. with the .rumor
! that Great Britain proposes to cancel
hers, .'..@. = .,!'
The. insertion by the House in the
, refunding bill Of provision that no
! celed is pronounced. by the Oklahoma
proper" = while tho New Haven
courier-Journal tindspendenD sees
these debts and the failure of the
world to recover its poise,' which
offers hope that ut will encourage a
further and deeper understanding.
until the point is reached where the
as II is. may appear as the shortest
and least expensive cpt to a revival
of International trade. healthier
| rate Of exchange and the possible
rsdemptiGn srd'na fn,ernatpeon 1'
The Wheeling CIV. Va.) Register
tdemocratic) thinks the allied debts
absolutely just" but admits that
whether this country will collect re-
mains to be seen. America. probably.
IN Nf
complete disarmament and world
peace" LAS time passes says the
Salt Lake Deseret News 0ndepen-
dent), "financiers and economists are
would be advisable for all concern
ed. and the Florida Metropolis
tdemocratic) points out that "with
such economic experts as Isaac Mar
cosson recommending cancellation OF
all war debts. it is urgent that all
ton" though it believes The Eu-
ropean debtors should be required TO
meet these debts" The Detroit Free.
Press Gndependent), rejecting The
theory on which Europe operates to
justify request for debt cancella-
ton" that we came late into com
mon venture" says: I'VE did not en-
ter for the sake of Italy. France or
England. We went in when our in
terests dictated. We did not go to
humanity. as some Europeans and
few Americans profess to believe. We
went for practicalr reasons Of ma
tonal expediency." The Toledo
Blade Gndependent republican, points
out phase OF this debt eancella-
sistently ignored" This is that the
government would not. upon its own
Responsibility, write these debts Off
IT. could hardly put the question up
vocate cancellation. Immediately that
was done it would be TRANSFORMED
into a political issue. 1t is doubtful
liz an administration could survive
which was put in the position of
giving billions Of dollars away"
between Great Britain and the United
States for cancellation Of their re.
spective debts is discussed by the
Chicago Tribune independent re
publican) after contrasting Great
Britain's share in the war settlement
with ours.
| In view of these facts" it says. '.it
does not seem improper to suggest to
Great Britain that II she is unable to
pay in cash what she owes us. she
the British West Indies. Why should
England decline to assign them to US
lin part payment Of her debt incurred
in obtaining ten times their area or
new lands In other sections OF the
| world?"
The Nashville Banner 0ndepend-
ent). pursuing this argument. says:
f"Csreat Britain could give up all the
| debts the allies owe her and pave z
great deal to 'strows-for t IN what
;hs nntsa gAssa States BY woad ss. dsad sas
! loss. These countries should
pay US the interest on tho money
they borrowed; that they are all able
; to do. and be given indefinite time
ITO repay the principal" while the
! tending that 'if Great Britain aban-
dons her obligations she ought also
! to forego her spoils," yet thinks this
country ought t. to stand rhidg rsddy 10 10
equitable all round" ..
| AS to the place in the conference
| of discussion of debts. the Rocky
| Mountain News Denver; irdepend-
peace armament Limitation confer,
ence has gone far proposition Will
come, from England very. likely. to
wipe the slate clean. az hrat step
in economic Observation-Disclosures. and
| the Newark News tdemocratic) finds
| it "hard to see how this country can
| prevent the other nations from bring
! ing IN such subjects as they believe
! to be directly related to armament.
while the Portland oregonlan nnae-
conference should adjust far eastern
affairs. it would do only half the work
/ needed for economic 'reconstruction
| and would have Laid less than half
the founda tion fof an agreement to
! limit; arr.aments.:': The inclusion of
! this discussion. by, the conference in
it's asenda. however. in the opinion OF
| the Springfield. Republican Hndepend-
ent). might easily break it's own
back and leave the world worse off
| than it was when It. was summoned