The Birmingham age-herald., 1922-02-26
Congress Leaders Not Sanguine OUer Prospects
 or the Debt Commission

mission will be a recommendation for material lowering of the interest charges to be made by the United States. Countries like Serbia, Rou- mania Czecho- Slovakia, and others of the lesser allies, who admittedly arc not in a position to pay interest charges alone. will be fairly swamped with the charges for all time to come If the four and one-half per cent is insisted upon.
 As to France the question often is asked why it is she can maintain an immense standing army and still be unable 10 pay anything on her debts. Fronchmen give a simple an swer. They say they are paying their army with paper money. If the United States would accept payment of Frances debt in that same paper money, nothing could be easier. But the United States insists upon gold, and as most of the gold In the world Is already in the United States the problem becomes problem indeed.
 Attitude or Europe
 The more the problem is studied the more intricate it seems. In the first place the American debt com mission and the American people will be called upon to understand the attitude of the allied governments regarding their indebtedness to this country.
 The allies will point out, for in- stance that during the period in which we loaned something more thap nine billions of dollars to them, they spent in this country more than thirteen billions of dollars. The lat ter sum does not represent the total spent by the allies in America dur ing the war. They spent billions here before we entered the war and before the government was in a po- sition to extend official credits
 Money Spent Here
 The loans of nine billions of dol- lars made to the allies did not rep- resent an out-flow of nine billions in gold from this country, as many suppose. The money was spent here. and much of 1t went to the making of the hundreds of new American miilionaires created during the war period. Much of it found It's way back into the American treasury in income and excess profits taxes more of 1t went to profiteers.
 The debt commission will hear from all of the allies the further arr gument that every cent of the money borrowed from America, and vastly fnOftt was opbnh III tnr dtNhni toh- duet of the war--in a common cause, which redounded to the credit of America as much as to any of the allies.
 Few Lives Lost
 The allies will argue that both France and Great Britain gave over a million lives each to tho war. whereas the United States sacrificed in battle not more than 50.oo0. The battle deaths of the American army were less even than those of Bul- garia, Roumania, Belgium and Serbia. For the time the American armies actually were fighting. their losses were greater than any of the rest, but the allies argue that America was spared three whole years of the war,
 Finally the allies will argue that much of tho money received from America was spent in carrying on against Germany while America was gettins ready after she had declared war.
 The American commission, If 1t be disposed to argue and haggie with the allies, unquestionabiy will reply by asking why it was that If all tho allies and America were fighting n common cause, in which all debts should be pooled or oanoeiod. Great Britain should have charged tho United States for transporting her soldiers overseas to fight alongside the French Poilu and tho British Tommy, Why was 1t that France, in similar oireumstance, felt called upon to file claims for damages against the American army, during it's stay in France, amounting now to nearly two billions of deiiaFa- Why should France also have filed enormous claims for damages against the Brit ish army which came so quickly te Franeeis assistance?
 Here you have but few ef the compile xities and intricacies of question which will be a leRgs long time in settlement.