Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-07-13
DEBT
CAUSE OF HIGH
TAXES IN u. S.
Continued From Page One.)

tNOutAnueu EhEG OHc.}
debt England would discharge a Ike
amount Of obligations due from It's allies.
AR Beveridge declared that the payment
OF money by Britain to her allies was
more in the nature Of a subsidy than
a loan. He declared that as the years
pass there will be continued pressure
for cancellation Of Indebtedness.
"Old arguments will be made over and
over again and other arguments adduced
from new situations as they arise, he
said. at is only the exercise Of common
sense to conclude that the advocates Of
debt cancellation expect American insist
ence on payment to grow weaker when
the present desperate economic plight Of
the American people Is relieved.
Especially, II payment Of interest il
deferred for fifteen years, as IS now
urged, the forces working for ultimate
cancellation viii be greatly strengthened
and the prospect for final payment made
dim and distant. Fifteen years OF in
terest would increase the debt by more
than seven and one-half billions Of dol
lars; and by the end OF that period these
foreign obligations to US would be nearly
double the prodigious amount now due
US.
"Then would come either the beginning
Of payment or another process Of refund
ing similar to that now being arranged
or else a renewal under more favorab BILE
Circumstance Of the proposition that for
the good Of ourselves and the world, we
wipe the slate clean, to use the exact
words Of the present British Chancellor
of the Exehequer. And does anybody sup
pose that, during those fifteen years
practically half a generation-the cancel
lation propaganda would be idle?
Eve are told that the debtor nations
simply cannot pay because they have no
money; that instead Of reducing their
debt to us they actually need ready funds
for reconstruction purposes
IF It be true that debtor nations are
hopelessly destitute. then the argument
for cancellation Of their debts, or. at
least. pOstponement Of payments, is we'll
nigh unanswerab BILE"
But. at least, we ought to Investigate
the situation; at least, we ought to find
out what the facts really are; at least
we should not take the exparte state
ments of the interested parties or hasty
assertions Of susceptible travellers.
SHOULD MAKE
INVESTIGATIoN.
Certain outstanding circumstances
would seem to require such an examina-
ton For example, for the fiscal year
ending March 81, 1921, Great Britain APP
prOpriated nearly three billion of dollars
for the enlargement and maintenance Of
her army and navy. This vast amount,
equal TO nearly three-fourths Of her en-
tire indebtedness TO the United States, Is
cash expenditure.
again, France is maintaining her mill
tary establishment on the pre-wnr basis,
including every man fit for service; and
Of this vast army over 100000 are now
IN active service in the field. The annual
outlay for the French naval and military
establishments is equal to n large part
Of the total amount loaned to the French
government by the Government of the
United States; and every dollar Of this
prodigious amount is paid in actual
money. Also the returns from French
taxation last year were surprisingly
large.
Moreover. during the present year.
Great Britain loaned the Argentine Re-
public the comfortable sum Of S50G00, 900
dollars to stimulate British trade in
South America" and. during the fiscal
year just closed the thrifty and far
seeing British government actually re-
duced her national debt by over one bill
lion dollars. At the same time that
Great Britain was spending these large
sums on her navy and army and in
advancement of her foreign commerce.
she actually reduced her national debt
by over $1,000. OOO. 900.
In this connection, perhaps It is not
inappropriate to recall the material gains
which the European allies derived from
their victory-gains which changed the
economic and geographical aspect of the
globe, but which, euriously enough, have
been almost ignored by the American
press and. of consequence, are seldom or
not at all considered oy the average citi-
zen. Yet this circunstance-the weight
lest and most far-rea, hing result of the
warts of capital importance in esti-
mating the future resources of the ma
tons involved.
TERRITORIAL GAIN
VERY RICH.
''All told, the territorial accessions Of
the European allies were the richest and
most extensive in the entire history OF
conquest.
we Americans are glad that all these