The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-05-21

the Advantage, IL such 1t may be
termed, of cheap labor. Everyone
should be satisfied with a protec-
ton whiSh maintains tie position
OF this country on a parity with all
other countries and with nothing
less.
we must think of our neighbors,
1t is true, but of ourselves as well.
What / have Said Will, | think, take
care of both sides OF the situation.
Thinking OF the other person as
well as yourself holds equally true
in the question OF foreign debts. You
ask whether / believe it would help
the situation IL foreign debts were
cancelled or scrapped. Decidedly no.
The worst thing that can happen to
n debtor is to excuse his debt. That
is almost as bad as forcing him
into bankruptcy. Any debtor worth
future consideration ana dealing
would resent such a suggestion. His
debt is his badge OF honor. a respon-
sibility, of hope. II he had no honor,
no sense of responsibility, no hope
in future reclamation he would OF
his own accord relinquish every
thing by declaring himself bank
rupt. You are doing him small IA
vor when, OF your own accord, you
take from him the moral stamina
that makes him feel an equal with
you. He is your debtor, true, but
still an individual or a nation that
has been your peer.
"But suppose. you say, that i'm
poverished foreign debtor asks you
to cancel his debts. tells you that
that is the only way in which he
can hope to regain his feet. Then
most certainly | should feel that |
am not dealing with an equal and
should be prompted by no desire to
help him attain the equality of rank
he seeks. Cancellation Of debts Is
not a plea for justice; 1t Is a plea
for aims. No individual and no ma
ton worth consideration ought to
forward n suggestion OF this sort.
"Of foreign magnates who insist
that the industrial health of their
nations depends upon the cancella
ton of the national debts ] would
ask. DO you cancel the debts or
those who owe you money when,
after every consideration, they DO
not pay?' People make the mistake
of thinking that nations are bullt OF
matter entirely foreign to the make
up OF individuals, a nation is maze
up of individuals and the code or
ethics one applies to the other ls
the code of ethics one may safely
apply to the first.
Would Grant Time 10 Pay
Even as | should not Insist upon
inconsiderate enforcement Of the
payment Of debts between individ-
uals. | should not insist upon it be-
tween nations. TO those who owe us
money and cannot pay we can eX-
tend the time of payment at a rate
of interest that is low and reason
able. Certainly no self-respecting
nation can or ought to expect more
than that. / would go long way
in leniency in time OF payment, but
cancellation--no. \ nation which Is
forced into bankruptcy Is immeas-
urably more to be respected than
one which voluntarily becomes a
beggar. one can continue 10 nego-
tiate with the first, one loses de-
sire to traffic with the second.
IAN important money problem
nearer home at the present, how
ever. is the bonus for soldiers.
am in favor OF rewarding the SOL
dIers who fought in the great war,
but not at a time when the reward
cannot be bestowed without great
hardship for the nation. Taxation
as | have before pointed out, is one
Of the things that has halted the
trend OF industry. Men could not
afford to undertake new ventures
owing to the consistent cutting
down of profits by heavy ana In
Vulnerable taxes. Today We are
paying about all that the traffic |
will bear. II Is all being swallowed
up. Everything that can be raised |
for taxes, legitmately and without |
injury to business, is required 20 |
pay government expenditures which |
are absolutely necessary.
"Anything else that Is added VIII
be like the proverbial straw that |
broke the camels back. Business
today is getting into stride because.
for the first time in a long period
II is finding its feet not too heavily
tied by hindering tape OF MANY
kinds. To impose upon 1t new !
tax now, when it Is ta-t beginning