The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1921-02-24
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War Debts and Geography.

Well, it doesn't look so big on the
may, anyway. do wish the people
who make biographies would make
all the maps of countries on the same
scale. These maps give me wrong
idea of the size of some of the coun-
tries" 1t was Ruth talking, and, in
reply, Jack exclaimed:
"The figures prove that | was right,
whatever the maps look like"
whats the discussion about?" in
quired Uncle Ted, loking up from the
paper he was reading as he sat deep
| nthe cushions of big easy chair
Teacher was telling my class to-
day about some of the changes in the
geography because of the war;" re-
sponded Jack, land | was just now
telling ruth about the big colonies
England got in Africa. She wouldn't
believe me when told her that one Of
these colonies alone is as big as all
our Southern states east of the Mis-
sissippi River, and sometime will be
just about as valuable. proved it to
her by the figures nthe encyclopedia
That's fine, Jack, I'm glad you
have learned how to use the encyclo-
pedia. You can't carry all kinds of in
formatio min your head, but you can
find nearly everything in a good en-
cyclopdia, and it's a good thing to
form the habit of looking things up
when a question arises like that you
and Ruth have been discussing. You
won't forget the facts you have learn
ed in this way
"Then too" continued Uncle Ted,
I'm glad this discussion came up, for
it will make you interested in some
further facts concerning the treaty
of peace and the relations between the
United States and the countries that
went to war with Germany If you
think you'd be interested, III tell you
a few things that are just now receiv-
ing good deal of attention from the
big men of this country"
GO ahead, Uncle Ted" exclaimed
Ruth. 81 don't like to have Jack beat
me out in dispute, but I'm glad he
told me some things | don't know.
What is it the big men of the country
are talking about?'
well, it's like this" answered
Ted. you know the war was orig
inally European war growing out of
the commercial rivalries of European
nations. In the beginning we had no
direct interest in it, but it became our
business to get into the war when it
was apparent that Germany intended
to sink our ships in violation of in
ternational law. After we entered the
war it became apparent that the AL
lies were out of money and supplies,
so we loaned the various nations diff
ferent sums amounting all to about
$40 900, 100000. Nearly half of this we
loaned to Great Britain, and she made
loans to some of the other countries.
The United States did not have the
money in its treasury to loan to the
Allies, so 1t borrower money from its
own people by selling them bonds. The
people of the United States supplied
the money ad they must eventually
pay the bonds through taxation, ex-
cept to the extent that the Allies re-
pay the money we loaned them.
Nov, just to give you a general
idea of the situation, and without deal
ing exact figures, but figures that are
approximately correct, the United
States raised for war purposes about
$35 O00,0O0,000 of which about $10,-
900 100000 was raised by taves and
s25, 000,000,000 by sale of bonds and
other evidences of debt. We are still
in debt more than s24,OOO,O OO,0 900, but
the allies owe us about slO,O0O,O00 900.
Some time ago Great Britain made a
suggestion to the United States that
we cancel the debt of 100000 900, 900
the Allies owe us. OF course, II we
Cancelled the debt, that would mean
that the people of the United States
who pay taxes would have to pay the
$40 900. 100000, for the United States
has it bonds out for that amount
which we raised to loan to the Allies
The additional burden would fall upon
all the people Of the country, for, al
though lots of people do not pay any
income tax, or any other kiknd Of tax,
directly, yet they pay the tax Indirect
ly when they buy goods, for OF course
taxes are figured in as part OF the cost
of doing business. There are about
liz, 900, 900 people in the United States,
so you can easily figure out that II we
cancel the debt of the Allies, it will
mean, on an average, placing an addi-
tional debt of $50 on every man, wo-
man and child in the country, or $3.50
for every head Of family.
81 don't think that would be right or