Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-01-04
Cross War Debt.

lp'ul l iiouOiuoV
The question OF the payment, OF this
debt really divides into two parts. The
first is the payment Of the balance Of
our actua! war expenses shown above
to amount to some Sl3.390 900. The
second is the payment Of the debt
owed to us by foreign countries. L:
fnc country III willing and able to stand
taxation at the war rate and with reas-
enable economy The first part could be
paid off in a latively few years.
Any consideration Of the worlds debt
To US would not be complete without
.hc inclusion of The unpaid private bal
ances due chiefly because Of Our largo
export trade. This latter item has
been eGtmat ted at between $4,000. .000.-
900 and $4,000. 100000 making a total
indebt cdncsG to this country Of from
S13. 400, 600, 900 to 81 900. .OU0 900.
4 large portion Of this debt is mol
avcH funded. Interest payments Oh the
government portion Of this debt have
been deferred until 1923. Unless thr
American people wish to pay this for
eign Indebtedness through taxation
some means must be provided to make
possible tho payment Of both intcres,
and prn .,al. This can only be done
through the closest cooperation Of the
government with the financial and
business interests Of the. county:
flr, A in
methods by which these kinds Of for
eign debts must be paid. It is i'm
possible to think Of these cuuntrie:
raising and sending these vast sums
10 US in gold or other forms OF money.
Nor would we want it paid in money.
The only way in which such debts can
;,c discharged is through the transfer
of commodities or through American
Investments abroad.
Extensive American investments in
foreign countries would be one Of the
very best means Of assuring lis Of an
adequate foreign trade. In many in
stances such investments can be made
oa very attractive terms. But Ameri-
| can firms will not make these invest
ments now unless they can be assured
uf the support uf our government. Or
COURSE. Il definite peace settlement, The
determination of the total German in
| lemnity and the announcement of .
definite foreign policy arc absolute pre-
requisites to any extensive foreign in
"cstmrnis.
In addition To such investments, it is
absolutely essential that we should
from foreign countries 1t is only IN
This way that our export trade can be
maintained Or that the debts already
contracted can he discharged.
congressman have been seriously
discussing an increase in our customs
duties to yield IN income Of $4,000. .OeO,-
900, or more than three times our
present revenue. y bill has already
been passed placing Il practical en-
itar;so upon the ma inrity Of farm pro-
duets including wheat and wheat hour,
corn. wool, unnms. peanuts, peanut oil.
sDya bean oil curuinut oil, rice. po-
tatoCs, cn:tunsCrd. cattle and mutton.
IN the ma inrty nf instances we are al
ready surplus producers of these COM
.nndilies. Wool is almost the only i'm
pOrttiit exception.
These measures are designed to pro-
test our farmers whn are suffering 'n-
D. der the world wide l"tlation Of prices.
II is rxtr, mely doubtful whether these
measures will accomplish their object.
Fake wheat for example. 1t makes very
iiIt!r difference whether the Canadian
surplus; il; sold in the United States or
i'm En:;lHnd In either case ii will af-
feet th,. world price in almost the same
proportion.
/ ON the other hand. these measure. :.
! by preventing foreign countries
ma :ketins their products hrre mag
seriously retard the payment OF their
debts tn US Unless they are able Ia
| par these debts. il will he necessary
80. In" American pcnpe to pay them
:Irni,rh fryat'un n--WaShin~tun Herald