The New York herald., 1922-09-27
ALLIES MUST SAVE
CREDIT, BURTON
Says That Reputation Would
Seriously Impair Worlds
Future Development.
MAKES GoD IMPRESSION
England and America See Eye
to Eye, Declares Sir
George Paish.

Special Cable to THE New YORK HEaxLp.
COPYRIGHT, 1879, by TIE NEw YoRK HrRALp
New York Herald Bureau,
London, Sept. s6.
The disposition Of the people Of the
United States is to require the payment
of the allied debts. former Senator Theo-
dore E. Burtcn said here to-day in nm
address before the American Chsnber
of Commerce.
>No one can exaggerate. the impor-
tance OF credit in the modern financial
world" said Mr.. Burton. The canceliaz
ton or repudiation of these debts wou}A
create not merely confusion and distrust
In the financial world. but--which Is
quite dangerous--would seriously impair
It's future development"
Sir Robert Horne, who listened intently
NEW York HEBALp correspondent after
ward, laughingly. II cannot think much
OF tho Washington plans until we get
expenditures reduced here.
VIII Pay Cash Here.
Despite the light tone Of this declara-
tion by the Chancellor of the Exchequer
it faithfully reflects the Treasury's de-
termination to send him to Washington
with cash in his pocket to pay what Is
necessary. Beyond tha. determination,
however. British opinion still believes
that an easier way OF paying can and
ought to be found than the stir sums
demanded under the present legislation.
sums which somehow must be hoisted
over the new tariff walls.
Mr.. Burton predicted that a new
Washington conference, at which Amer
cia would do all 1t was able to lead
tc the economic reestablishment OF
Europe, was not far off. Mr.. Burton
brought tho nearest thing to applause
from the staid, cool audience OF Anglo-
American business mon and bankers
when he declared: IF the debts are
cancelled what assurance have we that
the sums won't be used for financing
new wars---and America above all else
wants peace, and l want to say that l
do not believe England's known willing
ness and ability to pay should result in
discrimination against her final settle
rent"
Sir George Paish said to THE NEW
After listening to Mr.. Burton / think
can assure you, that England and
America see eye 10 eye on the whole
question"
Mr.. Burton chatted with Sir Robert
Horne but did not discuss the debts
themselves. He has conferred with
many prominent men here, however, and
expects to see Premier Lloyd George,
tefore sailing at the end OF the week.
For United States of Europe.
Mr.. Burton's speech to-day made an
excellent Impression. He made the
frank assertion that Europe would be
ruined by its own economic subdivisions.
Something ought to be done to bring
about an economic United States of
Europe" he said, and added that If the
liberties OF the world were again
menaced froms the East or elsewhere the
United States would come to the rescue
as 1t did in 1917.
LONDON, Sept 27.-wednesday (Asso-
c!ated Press).-The Times this morning
devotes its leading editorial. which Is
captioned Through American Eyes" to
an expression Of warm appreciation or
tho speech Of Representative Theodore
L. Burton. The Times commends the
speech to the attention OF the European
debtors of the United States, seeing that
Mr.. Burton Is lone OF those thoroughly
American Americans from beyond the
Aileghenies who know Europe. particu-
larly ENGLAND. almost as well as the
United States"