The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1921-02-24

.tl 70 about $40 O0u 0Uu.u90 Nearly
half of this we loaned 70 Great Brit
ain and she made loans 70 some Of the
other countries. The United States
did rot have the money in is treasury
70 loan 70 the Allies, SO Il borrowed
money from its own people by selling
them bonds The people Of the United
States supplied the money and they
must eventually pay the bonds
through taxation, except 10 the extent
that the Allies repay the money We
loaned them.
Now, just 10 give you a general
I idea Of the situation and without deal
ing in exact figures, but figures that
are approximately correct, the United
States raised for war purposes about
S35 900, 100000 Of which about Si0,-
000000,000 was raised by taxes and
SIS 900 100000 by sale Of bonds and
other evidences Of debt. We are still
in debt more than $4,000, 600 900, but
the allies owe us about $4,000, 0O0,-
600. Some time ago Great Britain
made a suggestion TO the United
States that we cancel the debt Of
$4,000. 100000 the allies owe us or
course il we cancel the debt, that
would mean that the people Of the
United States who pay taxes would
have to pay the S10,OOO,000,0O0, for
the United States has its bonds out
for that amout which we raised to
loan to the Allies The additional
burden would fall upon all the people
Of the country, for, although lots Of
people do not pay any income tax, or
any other kind Of a tax directly, yet
they pay the tax indirectly when they
buy goods, for of course taxes are
figured in as part Of the cost of doing
business. There are about 100000 /
people in the United States so you can
easily figure out that If we cancel the
debt Of the Allies, it will mean, on an
average, placing an additional debt Of
500 on every man, woman and child in
the country, or $3.50 for every head of
a family"
81 don't think that would be right
or fair" interrupted Jack. even If
the Allies pay their $4,000 100000
loan, this country will still have
debt of about $14,O00,O0OO0O to pay,
won't it,"
yes, that's about right Jack. The
war viii cost US about $4,000. 100000.
without counting interest, even if the
Allies pay their debt. The interest
will probably amount 70 more than the
principal by the time it is paid
That's interesting" Ruth interview
3D. But what's all those big figures
rot to do with the map jock was
me?"
Just this, Ruth: You see, when the
var was over, the Allies made a
.reaty Of peace with Germany and
.ook lot Of territory away from her.
lacks teacher was telling his class
lbout it today, and Jack was telling
,ou. France was given a big chunk
NJ one side Of what used to be Ger
many, and is TO get lot Of money as
eparation, or what we would call
amages, in ordinary business.
hink France is entitled to a lot more
han she win get. Then Great Britain
-ets the German colonies in Africa,
hat Jack has been telling you about
lie is right about the size and value
{ the colonies. German East Africa
5 about the size Of all Of the south
astern corner of the United States,
asst Of the Mississippi River and from
he Potomac River TO the Gulf. And
4 richness Of resources il is no less
aluable. German Southwest Africa
J about the size Of Texas and Okla
oma combined, and probably about /
s rich in ultimate resources. BY ,
leans Of her control Of railroads and |
orts, Great Britain will control prac-
cally all the industry and commerce
Africa, the richest undeveloped re- {
ion in the world. !
Now what / wanted TO impress up
n your minds was that after getting :
I this rich territory in Africa, Great
ritain ought not expect the people I
the United States TO cancel the 4
bit Great Britain owes them. We a
ave not asked for anything from b
ermany, and we are willing to give a
ie Allies plenty Of time to pay their &
bit 70 US, but we won't consent 10 =
noel the debt entirely"
1--WE certainly shouldn't" said Ruth. :
Papa complains every year about the :,
xes he has to pay, and ! suppose il )
as You say, he pays more taxes in +
e high prices he pays for things he I,
IS 10 buy. ! hope they don't increase Z.
e taxes by giving anything to Great Ii
-itain.r Z,
"Not much danger" responded i