The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1921-01-10
WE CAN USE THAT TEN BILLION

WE CAN USE THAT TEN BILLION
WASHINGTON, Jan. 4.-What
| the ten billion dollar foreign debt
means to the people OF the United
States, is set forth by the Republican
publicity association, thru its presi-
dent Hon. Jonathan Bourne, Jr., as
follows:
"a number of newspapers have
been calling attention recently, to
some of the uses the United States
could make of the 10000, 100000
this country has loaned to European
nations and which, eventually, we
hope to have repaid. A number OF
those who have commented on this
subject have pointed out that at an
average cost of $4,000 mile, the
ten billion dollars would construct
100000 miles of hard surfaced high
enough to give the United
States the best highways in the
world. Suggestions along this line
are evidently made, not with the
view of advising what should be done
with the money, but what might be
done with 1.-THE purpose being to
illustrate in a concrete way what
len billion dollars means.
1.-THE fact of the matter is that few
people are able to grasp the immen-
sity of valuation expressed with a
dollar sign figure / and ten ciphers.
All of us can recognize dollar when
it looks like 40 cents. Many of us
can remember when a dollar looked
as big as a cart wheel. Some of us
can visualize $1,000 and we presume
there are a lot OF people who really
understand what million dollars
means.
But ten billions is beyond the
power of any human mind to grasp
unless it is translated into some con-
crete form with which we are more
familiar and which we can stretch
our imaginations to comprehend.
Therefore, when some newspapers
translated our foreign loans into
miles of hard surface highway, they
rendered a real public service, for
they helped the people of the United
States to understand exactly what IL
proposed by those Missionaries who
advocate the cancellation of Europ-
can debts to the United States.
"There are other good and useful
things the United States can and will
do with that ten billions when we get
it back. In the first place, the United
States owes some $24,000,0 100000
on which it is paying interest. The
interest charge goes far to swell the
taxes the American people are called
upon to pay each year. A consider
able part of that ten billions could
be applied to the liquidation of the
debts owed by the United States,
thus stopping the interest charge.
Moreover, If considerable part
of that ten billions were applied to
the payment of outstanding Liberty
bonds, those bonds, which are now
worth about IS cents on the dollar,
would advance in market value and
perhaps reach par. People who
Their money to the govern
ment on the assurance that the loan
would be safe investment, but who
have witnessed Is per cent decline
in the value of their security, will
scarcely favor cancellation of the
$40, 10000, 1000 debt when it could
be applied to the payment of the OBJ
legations the government owes them.
Cancellation of the $10,00O,0O0,-
900 debt would be relief to the
people Of European nations to that
extent, but it would be in effect an
additional burden upon the Ameri-
can people to similar extent. Can
collation. of the debt would postpone
The time when the United States will
be able to pay it's own bonds, would
extend the period during which
American taxpayers must raise
money to pay interest, and would
lelay the time when Liberty bonds
will be restored to par.
"As remarked before, If we do
1ot use that ten billion dollars to
)uild roads, we can find other good
md useful purposes to which it can
oe applied"