The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-07-17
Pc FRANK II. SIMONDS

.he a. ."HltOn OF w %, ~
h ne ,l..-uN. backed by me prGa ,gl
u, ..u. that is for authority 10
h e.7" D., making OF arrangements
r.. luudation Of that vast sum-
~ pry4cuts osr loans TO our as
n "t.. - fhe war the whole sub
n.ru rcopcned. once more,
encounter Immediately the
~, t,tSrep the political and the
&c .,r views of this difficult
's'n,.t,ry Melons figures pre-
.,,,l ,n congress disclose the fact
n Z L.r.rr. our partners or the
n . .o,s us in government loans
n w. s,uu,u.luus sum of $lO,OOO,OOO,-
j o', ..Ylf,I and rather more than
n =, Da" nup 600 in unpaid interest,
n e. $1,000, 100000 In all. For
v .,,.,I..r we may at once set TINS
II S.,','| ,sl.n.t the 2,0O0,OOO,OOO,
n ni.b l;..rIany in the latest agree
II mont mad, with her conquerors, mas
n ,,Jor'ga,u 10 pay az tirst ana
"a Slycd insta'mcnt upon her total oph-
ra,0ns Incurred 10y her conduct OF
n the war. .,,,. ,o,,,e
q since inc interest upon our loans
n Is still pUus up, pending the ADJUST
81 n,eut4 ~f.I' 90 be made by our treas
81 ury d,pa-mout, which is seeking the
n o,,hufNUou Of congress TO deal
n ,'th th. matter il requires little an
~ ahsis to perceive that in al human
a-oh,bIfty before the debt due us
a by our ssociates can be piaceu upon
n r,.uf.,r basis, the total OF capital
and unpald interest will very closely
n snnroximate the capital sum Ger
n many is uw beginning to discharge
n namely $1,000, 100000,
II shall have occasion presently
81 On deal with that other phase oi
N Furopcln indebtedness to us, namely
"a tho vas. sums which have been lent
in the form of credits. private as
contrastyd with governmental, which
X must today represent not less than
n Is 400 GOO 600 and are steadily be-
n i,g Increased by further credits td
enable Europe TO absorb our food
Enguffs and cotton. as well as certain
minerals, Ike copper.
But assuming for the moment, as
is obviously reasonable that in the
and the total OF European indebted
ness to us in an official way. that
is in the shape of the principal and
a interest Of loans made by our gov
1 eminent during the war and armis'
,ice peHod will be approximately that
OF the German fixed payment now
decided upon, namely $l2,O0O.OOO,
OOO It Is possible, at once to obtain
certain figures for use In indicatine
what this <act means. And the
further assumption can be made
that. in any event, we shall not seek
10 impose more enormous terms upon
our associates Of the war. than have
been imposed upon the nation re-
sponsible for the struggle and its de-
structious.
How Germany Works II.
Now Germany has undertaken tf
discharge the capital sum OF i2,.
O00. 600 600 in the period of a thiro
OF century approximately, by ms
annual payment of s72O,OOo,oOo
two-thirds in direct payment, one
third IN an Internal tax levied upon
exports or rather upon the whole ex'
ternal trade of Germany. This tax
OTIS per cent must yield s24O, ,0OO,'
n ~ annually and thus presupposes
Ysforeign commerce for Germany o'
$1,000, 100000, that is an export
trade 10 this amount,
But II Is significant for us to note
at once the effects OF this method OF
payment. as it has worked out II
Europe and in the case of the Ger
n man operation, since this operation
enust, In general lines serve as a
4 parallel for our own. In fact Ger
a many has undertaken to pay a very
considerable part OF her annual con,
tribution in coal, she has also bound
herself TO make certain payments ir
tho form Of completed ships Ir
II el1 J. ny-G