The Washington times., 1922-09-11
ADSHsseeH1SS ADSHsseeH1SHHssS#1s HHssS#1s BUSINESS AND FINANCE
M0NEY-TRADE
Entangling Business.
American Economy.
To Pay Europe's Debt?
Danger Ahead.
BY GEORGE w. HINMAN.

BY GEORGE w. HINMAN.
CHICAGO, Sept. 11.-There is no
longer doubt that a new and siren
uous effort Is being made to- en-
tangle this nations business in the
business chaos Of Europe.
One plan Is that the United
States should call an international
conference on Europe's finances.
That means an assembling or the
nations to induce the United States
to cancel the ten billions owed by
Europe to the American people.
The other plan is to get an
American representative on the
Preparations commission. Th a I
means a preliminary attempt to
commit American business to the
future financing of Europe.
The two plans together mean
that the American people should
be pledged by their Government to
pool their prosperity TO a large
extent with EurOpe's adversely,
Americas solvency with Eurooe's
bankruptcy.
These plans are suggested in the
daily press dispatches from WASH
ington, are boldly declared in the
European newspapers, and are ad-
vocated in private just now by
men close. to the present Admins.
tration. both in Washington and
the Middle West.
NOnsensicaI Arguments.
What is the present excuse for
such a raid on this nations bust
ness welfare? The most popular
| business excuse at present Is that
only by helping Europe can Amer
| lea restore her business with Eu-
rope. Nonsense The proposition Is
that the American people should as
sumo and pay the SO, 900, ,O00, 900 that
Europe owes us and then lend per-
haps a billion or two to "rehabin-
tate" reconstruct" and ''restore"
some Of the bankrupt nations.
Let any man figure for himself.
how long would IT take American
business to get back the $l1 ,OO0,-
600 900 or $12 900, 600 900 in net prof
its on its exports to Europe? That Is
II Europe were at once redeemed.
"regenerated" and stabilized" by cur
stupendous gifts. How longY Ten
years, twelve years or perhaps even
fifteen years. But Europe would rot
be "rejuvenated at once by any
eleven or twelve billion dollar sacri-
flee on the part Of American busi-
ness and American taxpayers.
Europe would not be "reJuven-
ated" for at least ten years.
The business returns on our un-
business-like gift are a myth, a
dream, a silly falsehood as far as
the present generation of business
men are concerned. Yet no other
business excuse for our sacrifice of
billions is offered either from Wash
ington, London or Paris. All the
other excuses and reasons are empty
praises about generosity" magma.
nimity," morality" humanity
and civilization"
This country skinches and pares
on it's necessary expenditures. For
examples, 1t reduces it's army below
the limits Of national defense. cuts
down the pay of its army officers.
raises the price Of commissary sup
plies per cent, and then per
cent a month. does a thousand other
mean things for the sake Of economy
and taxpayers relief.
Other Nations Finances.
At the same time England and
France pour forth their money in
financing the Turk and Greek
armies in Asia. France musters in
not only four times the American
military strength in white troops,
but rakes the deserts and jungles
of Africa for 100000 colonial troops
to support her military aggressions.
Poland, bankrupt Poland, is made
military power with a great army,
but recently increased by $4,000
men, and all newly prepared for
war with equipment ordered from
Paris. The little nations that once
| Atu tria brought infn
military league to further sustain
French ambitions. And meantime,
French and English private invest.
ments pour into their accustomed
channels in eastern Europe, Asia
and Africa by the hundred million.
1t is while doing these things
that these countries and their as
soCiates in Europe call on the
American people. American bust
ness man, American taxpayers, to
forego their own prosperity and to
bestow billions on Europe that
Europe may be restored at Amer
as expense without suffering any
diversion from the usual European
policies of greed. aggression and
territorial acquisition. Not only
this, but such atrocious PROPOSE
tions are countenaced by Americans
who stand high in financial and
official life, or reasons that are only
excuses, or excuses that are only
pretenses.
That propaganda should have such
power in a matter of business, In
lpure dollars and cents American bust
ness is almost beyond belief. But
1t has; the evidences multiply even
as these words are written.
, Unless the business men of America
realize this fact, rouse themselves to
protect their property and demand
that the men in Washington repel
; the renewed attack on the Treasury
, of the United States and on the re.
sources Of the American people. they
; are likely to receive a blow second
only in severity and damage 10 that
j dealt them by Americas participa'