The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-02-12
England Wants to Make a
Favorable Impression Be-
fore Her European Neigh
bors
BY MARX SULLIVAN.
National Political Correspondent Of IL,
lntC,NgcnC"r and New York
Evening Post

SEeSS, Ill committee HC'lsllES' dHN '''
III newspapers about the money owed TO
| us by our late Allies. The bulk Of this
talk has been sadly lacking in under
standing Mystery has been made OF the
fact that member Of the British cab
met, MIR. Austen Chamberlain, IN a
public speech stated that Great Britain
has approaCcd US with Il suggestion that
wa cancel these debts. Mr. Chamber
!ains action has been the occasion OF
m!natory COmm"nt IN III" American
press. II has been described rs n dip
lOmal!v luIIscrCation or something
worse.
To any one who knows all the facts
there Is no mystery IN II. and Mt
chamberlain had Il perfectly good mo-
tive tor what he did. lie must toe srnil-
ing 4 good deal over the reception his
remarks met in America Mr.. Chamber
latn'S public alluSiou was not meant
especially for tho ears al America nor
for the cars OF Great Britain. 1t was
meant for the ears OF France. Italy, and
other Allies. Mr.. Chamberlain docsn
care and Great Britain doesn't care so
, much about cur Caucclling these loans.
The flood OF talk here in America.
/ which has taken color Of resentment
! against England, is wlGc OF the mark.
1t makes some difference TO Great
! Britain whether We cancel these loans,
but not SO much as il universally as
sumcd. So far as Great Britain is con-
I cerned it would. he largely book
ing transaction. It Is not Great Britain
that is primarily interested in the can
collation. OF our loans abroad, It is
. France. Italy. Belgium. Siberia. and
the other allies.
EnglAnds Position Like Americas.
IN the same position as ourselves. We
have loaned. roughly. $4,000, 000.0 TO
the Allies Great Britain has loaned 10
the Allies. roughly. $3.50. 900, 600.
! But in any all-around cancellation.
Great Britain would only benefit by
the S4.600.000. 900 she owes us. and
would lose to the extent of all the
Allies owo her.
This is. Of course. subject 10 much
qualification. For example. the debts
due TO Great Britain are in the form
Of deprecated Currencies, Just what the
net result Of cancellation all around
would be it is not possible to say with
accuracy. without more minute figur-
ing than Is here possible.
/ For example. Great Eritain's loans
70 Russia were over s?,5O0.o0Q. 900.
while our loans to Russia were less
than one-SiXth rs much. about $780,
00Q.0o0 Obviously. the debt Is pretty
. nearly a total loss already. For Great
/ Britain TO cancel that debt of $500
I 100000 would be merely gesture.
! Great Britain would be Cancc,!inC z
! Russian debt which IS largely total
loss already. while she would be the
beneficiary Of our cancellation Of the
perfectly good debt she owes H..
TIL" accounts among the Allies arc
full Of such intriCaci"S as this and
. only an expert accountant could tel
juSt what the net result would BE- II
W should cancel our loans and then
Great Britain should cancel hers. But
there need be no doubt about the Hrt
Of il. So far as cash is concerned.
Great Britain would stand To win. nttlC
or noting by our cancellation Sc the
debt she owes w If she IN turn should
cancel al. that Is owned her.
England Would Profit.
Undoubtedly, mutual Cauc"ilai;on
. Of these debts al around would have
certain complex results affecting for
eign trade and exchange. Since Great
Britain is so much more expect IN THIS
line than We are. II can b" taken for
granted that she forScCs th"S, results
and would manage TO profit by Them.
! But Mr. Austen Chamberlain. when he
made that speech. was not N"icing If
ritatton because Wa have refused To
4 cancel the loans Neither was he
bringing pressure to bear on US To
cancel them now.
Tndoubtcdly. what he WAS dong was
TO serve notice Oh In" other Allies mas
much as America will no, cancel the
7 loans she made Great Britain VIII he
unable to cancel IN" loans Sh" made.
ad therefor" France and Italy and the
others must pay. Mr.. thamberla in =
speech was merely Il diplomatic was of
4 calling the attention of France and the
other European Allies to an overdue aC-
count. Also Great Britain COTS credit
for willingness TO cancel while We get
the odium for preventing il,
4 OF course. il is true that Will" Great
Rritain's financial interest in our can
ceiling OF the loans is comparatively
small, there are other reasons, and
good reasons from her point Of view
why she should want US 10 d" II. II
would save her the Inconvenience OF
In other respects. especially a regards
her foreign trade. would be desirable
from tho British poin: Of view.
! Mr. Chamberlain'S revelation th1>
Great Britain has already approached
! US on the subject ought to be no
surprise. In the informal ways Of
. friendly conversation. many British
statesmen. British editors. and British
! leaders of thought have made this Sug-
gestion to American public men and
, journalists. 1t has been made to the
writer Of this article on more than
one occasion.
One Suggestion.
One suggestion once mad" To my
hearing was that Great Britain might
; take the initiative by first cancelltnS
all the Tomas owed to her and thuS
put il up 10 US TO cancel But MIR.
ChambcriainS action would seem tG
Indicate that Great Britain does not
/ now place any SUCH high cStmat" On
our Willingness TO enter II competition
. IN altruiSm.
Just recently IN" London Observer
/ Of Sunday, January =. 1871. contained
an article by Sir leo ChuIGza Money,
member of the British Parliament
! in which strong plea was made for
the mutual cancellation of the Allied
! loans Among other things, the article
I said:
; The interna t!onN war debts are oh
ligatoiuns which express tn" unequal
. runtr!bIit ions of the Allies /" Il common
cause. We borrowed from America. not
for ourselves. hut 10 lend TO our Europ-
can allies The mutual cancellation Of
all the borrowings would not merely ~"
AN act OF rerugniti0n Of their origin, It
would be justified "a a real contribution
To world settlement and. therefore, i
material gain |" each Of the partr"S.' In
this. as IN 80 many other things good
sentiment is good economy. let 1t he
says headline in tn" Tol"i" Times.