The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-07-17
gland France, BelgummThey Can all Pay-The
Question is How to Let Them Pay; They Can ONLY
P,v in Goods and that Would Shut Down America
Industry Because America Doesn't Want the Goods
They Can Pay With; Germany, Loser of the War, is
Economic Victor.

Germans, in repayment for subma-
rine dcpredations during the war
Many hundreds Of thousands Of tons
of shipping were taken over. but
the result was the prompt paralysis
of the British shipbuilding industry.
Today the London Times. for ex-
ample, carries long lists Of German
ships, offered for sale y the govern
mcnt, for which no buyers have yet
been found. But given this supply
of tonnage, there is no demand for
new constructions. The result In
unemployment in the great ship
building Industry of Britain.
Politicai Consequences, Too,
l. returning To- the coal question. for
a moment, il is plain that the rcpcr-
Cussions have been felt generally
All the industries depending upon
ICoal have been compelled to reduce
their operations and many shut down
altogether. Railway service has been
tremendously restricted. tho whole
life of TIE United Kingdom has been
seriously crippled by what must be
recognized as one consequence of the
effort to collect the German indcm-
nifty.
But there as political, as well az
| economic consequences Whore
Britain has suffered, France has
manifostly benefited, for France
lacking in coal, has been able to OBJ
tain vast amounts of coal at low
cost amounts not alone sufficient
| to meet French demands, but to en-
able France, as we have seen. to sell
coal to Great Britain--and she has
also sold 1t to other countries, mo-
tably Italy. French coal mines have
been compelled to shut down be
cause of German importations, be-
cause French production was totally
inadequate to French needs before
the war and German destruction
during the war still further reduced
French production. Moreover given
the French coal situation, with
every French mine working France
can still absorb more than 10000
OO6 of tons of German coal annually.
Why France Insisted "Pay Jp."
Further than that, there are
many other things which France
can take from Germany. BE-
yOnd any doubt Germany will
presently begin to deliver fabri-
Gated houses for the devastated
area, an order of 25.OOO H. at the
moment being discussed. But
such deliveries Will not In tho
market. because they represent
abnormal demand. To put the
thing simply, then, France can
affOr! to make Germany pay, be-
cause German payment will not,
In the main bc made In commodi-
tics which arc themselves COM
pctitivc with French production.
Here Is the key to all the French
insistcncc that Germany must
pay and pay TO the limit Of hAr
capacity.
FOr Britain. on the other hand,
German payment represents
British IOSs as the example OF the
coal deliveries has well demon
stratcd France was very Inn
pOrtant customer OF Britain in
coal and In other things, before
the war. but now France can get
coal and other things from Ger
many both more Chcaply and ON
account Of the indcmnity--thc re-
suit, Is the immediate restriction
of the British market In France
and the same is trnc to u lesser
extent In Belgium and In tally.
Finding the Parallel.
1t follows. then, that French and
British policies toward Germany
clash necessarily. Britain desires
to see the German payments fixed at
low sum, both in the interests Of
peace and because Of the consc-
qucncos to the British workingman
Of having his production deprived
Of market, because that market is
filled by the cheaper German out
put, taken as part of the German
indemnity payment. France, on the
other hand demands that high in
dcmnity to which she Is morally en-
| ,,, In, ha "a ahgnrptin ion Of
which she will suffer no injustice
SO much for the German indem
rtty, now II must be plain that there
il parallel bewecn that ana
the European debt to the United
states. Like Germany, Europe must
nay us In goods and services; there
is no question of money As Tor
paper money already at high dis
count, it would become OF FAR less
, value, il Europe undertook TO turn
over to us billions in script. As for
gold. we have more than half Of the
worlds supply now and our Euro.
mean debtors have not enough lei
to pay one years interest on wha'
they owe us together with the SINK
ing fund addition.
The Fashionable Suggestion.
Great Britain might pay us a GER
tain sum by Sel!lng IN inns country
the holdings which remain to her OF
hcr vast investments in American
! railways and Industries before tht
war But since the government does
, not own these securities the process
5 would be difficult Snd the effect
upon the American stock markc
! tor example, would be disastrous
, But France, Italy and Belgium Ger
/, family could not pay us In that way
, since they have no considerable IN
, vestments and We shall hardly be
d. Table to demand several terms OF the
British than Of other debtors.
II is fashionable in certain quar-
= tiers TO suggest that the debt be dis
charged, In part AZ least, 10y the
b, transfer Of British and French colo
= MES, Italy and Belgium have none
1 in our part of the world. But does
any one suppose that Canada for eX'
ample, would consent to be sold as
a piece of real estate by the British
government to meet an American
debt? Nor would Canada consent
that the British possessions In the
West Indies, together with the Der
mudas and the Bahamas, which are
TO be transferred to her contro
,rasontlv shoull instead be sold Il