The New York herald., 1922-08-13
PAY AND FORGET,
BRITAIN'S TASK
Only by That Heavy Sacri-
flee, Sir Philip Gibbs Thinks,
Can Europe Be Saved
from Disaster
BY Sir PHILIP GIIBS.
Special Cubic 10 THE NEW YORK HERAn

we're 10 forgive al! debtors and pay AL
debts That, in my opinion. is utterly
unfair but also one heroic remedy
which can save lis ALL For the sake
of Europe the British people might be
induced 10 suffer greater burdens.
even al the risk OF sinking under tho
weight Of them. l believe there is a
majority in Great Britain who would
take that risk for the possible chance
of securing world peace recovery.
am inclined 10 believe we shall do so
ultimately. whatever temporary ar
rangemcnt may be patched up be-
tween Poincare and Lloyd George with
their halfhearted compromise on each
side.
But whether We take the full risk
of the burden of Europe or only part
of It, as now. il would be well for the
world to know that already the Brit
ish people are more heavily handi-
capped thar any other people. Leav-
ing on one side the American debt, we
are taxed up to the eyebrows. For in
come tax we pay seven pounds ten
shillings head. as against the French
one pound a head. and for indirect
ldAdlliIi lillt' DouiilS ten DtdO,
against the French one pound a head.
What Debt Payment
Means TO Two Nations
In order to pay 10000. 900 yearly
as interest on the American loan we
shall have to scrape mp another shil-
Ing on our income tax. What will
that mean TO the British people? I'm
doubtedly further restriction of busi-
ness enterprise. more unemployment.
dwinding energy in factories and
workshops and still greater difficulty
to raise national revenue.
The United States will get a lot OF
money and they will lose a lot OF
trade. The Western farmer will see
his surplus products rotting on the
ground because Europe cannot buy.
The Eastern manufacturer will have
his warehouses choked with surplus
stocks for which no European money
will be forthcoming. Industrial Eu-
rope will gradually decay. the only
people with a sense OF security will
he those who work the land and raise
sufficient for themselves with a mar
gin TO spare for their urban neighbors
tiHdHfd III HMfdltd sNilu lUbsP
sweated masses on wages dropping
behind food prices win not be patient
and long suffering forever. They will
be sullen and cnraGed. They Will cer-
tainly make trouble. They will ult-
mately. beyond amy doubt at all. in
this generation or the next, repudiate
all those debts which were the heri-
taee OF the war. either by refusal TO
\ pay or by revolutions and disorders.
ir which there viii be no possibility
of paying. That is going TO happen
whatever statesmen do or fail 10 do.
however far Poincare meets Lloyd
George or Lloyd George meets Poin-
care.
There i only enc country which
can avert the full measure of that
European default ana tragedy. that
H. England. The United States might
have done 50. but she doesn't care TO
Dc so, does not think 1t fair she should
be asked TO do so. So 1t is England
upon which the responsibility devolves.
And in my humble opinion. based on a
knowledge of English history and the
character Of our people. | believe we
shall shoulder tho burden bravely. ac-
cept our growing poverty with ga
tiencc. turn a blind eye 10 tho debts OF
France. italy. Russia. Austria. Ger
many and all oth,,s and pay tho
United States II we have TO mend our
boots and sell our war medals. That
viii help Europe from sinking. but il
won't prevent wides pread poverty or
quicken the revival OF world trade.
Nor viii Il secure peace unless in re-
turn for Englands financial sacrifice
France economies on submarines. air
planes and black legions. and Germany
makes no exception, not even ono, 10
a new philosophy of peace.
Copyright io.2. hs The Mcclure Newspaper
Syndicate.