The New York herald., 1922-12-24
MUST BALANCE BUDGET
1ncompetents After Power,
Plunder and Publicity
Elected to Office.
BERLIN NEEDS NEW BANK
Loud Mouthed DemagOgues
Promising the Impossible
Scare Off Able Men.
ny II. j. LISMAN.

ny II. j. LISMAN.
T HE problem whether the coun-
tries Of Europe can pay y,s the
i debts due to us and to Great
Britain has been discussed from al
most every angle except the one which
seems the most important: Are these
countries properly governed, have they
an intelligent, fair system Of taxation
and are the tax laws properly enforced
in order to produce the maximum of
revenue without favoritism to any one
class?
The sterilization of the mark, the
franc, the Ira, the Austrian and Hun
garian krone, &C.. is largely problem
incidental to the question OF proper
government. No currency can be sta
bilized until country fully balances
its budget--that is, does not disburSe
moro for regular and extraordinary
expenses than it collects. and until the
people of country do not buy more
from the people of other countries in
one way or another than they sell to
them.
1t Is now four years since the armis-
tice Nevertheless, exchanges Of all the
countries except those Of Great Britain
and Czecho- -Slovakia are selling at very
near their lowest prices. In searching
for the reason 1t will be found that
these two countries have well-ordered
Government, which is actually collecting
the proper amount Of taxes from its
citizens.
state Budgets Satisfactory.
These two counties have approx
\ mately restored their trade balances and
their State budgets are In satisfactory
condition. Great Britain has, substan-
TALLY reduced fier war debt, while
echo-Slovakia. which had to create an
entirely new State organization, has not
vet arrived at this point, but has reduced
the amount of outstanding paper money
by over 10 per cent. All other coun-
tries engaged In the great war have In
creased their debts since the armistice
and are still doing So
In looking into the causes for the low
rates of exchange and unsatisfactory
trade balances and budgets, we find that
In many cases as a sequence OF war
hysteria and its reaction men without
an understanding Of government. with
out ability to do constructive work, but
merely obsessed with greed for power,
plunder and publicity, have been elected
to the Parliaments and into office.
The officials of many foreign coun-
tries have done very little or nothing
toward decreasing the race hatreds
which were stimulated during the war,
1. but on the contrary in order to keep
themselves In office, have waved the
"bloody shirt" as it used to be called In
the United States during the generation
after the close Of the Civil War. Chau-
yinsm, aptly defined in the oxford die
tionary as "bellicose patriotism" Is
rampant everywhere.
IIoodw mixing by Politicians.
These politicians OF the suffering
countries have told the people only what
they thought the people would ike 10
hear and neither have dared to enact
the harsh laws necessary for difficult
situation nor even to hint at their ne
cessity President Masaryk and Musso-
lini the new Italian Prime Minister ap-
pear to be the first European states
men willing to tell the people the full
truth.
At the root Qf the present trouble
Ia the mischieyous slogan. fostered and
proclaimed by vote seekers. that "Ali
men are etual." Men are no more born
equal than horses. Men are only entitled
TO equal opportunities In accordance with
their natural endowments, and every
child. whether the son of a multi-mil-
lionaire or the daughter of scrub
woman, Is entitled, in accordance with
IT'S ability. to equal opportunity and in
centive for it's own benefit as well as for
that Of the world at large.
We have fought and won a war which
was the death .knel Of the middle age
feudalsm. which ended the right of one
set of men, favored by accident Of BIRTH
TO dominate others less fortunate. This
war was fought to end militarism, and
II can and will end 1t IL we give an
opportunity to the best men to solve the
problem and provide the authority and
machinery through which these men can
work. A League of Nations organized
for constructive purposes is the possible
medium.
Austria.
Austria has totally collapsed owing to
the enormous deficit of the Government
budget and an unfavorable trade ball
ance. Though there have been many
contributory factors, such as economi-
cally impossible boundary lines. funda-
mentally the trouble is due to the weak
moss Of the Government. which lacks the
strength to properly enforce reasonable
taxation laws. and owing to the pres
sure OF various political parties has
found II easier to print money until II
has become worthless.
Now this same Government Is pray
Ing 10 other countries to come and take
charge OF its country. and Is offering
TO turn over TO foreigners the full man
agement OF Its affairs. provided some-
thing is done to help II out of its misery.
This Is very difficult problem now II
would have been very much easier to do
this over three years ago.
The weakness of Austria was visual
lied at that time by all Intelligent men
the world over. but there was no one
who had or could get the necessary au-
thorty TO help Austria put her house in
order If a representative OF a League
OF Nations could have said to a group
OF international bankers, I'VE will guar
antce to give YOU prior lien on the
revenues of Austria for the payments
necessary for interest and redemption
OF your bonds. the situation would
never have become as bad as II Is now.
Finally. Austria's neighbors and Great
I.ritan have come TO her help. but not
yet as forccfuily as necessary. Germany
viii arrive az the same stage as Austria.
and so may Hungary Poland and some
OF the Ealkan countries. Something