The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-10-07

I.lncoln.-To the Editor ~ The oma
ha Beel In the proceedings Of lhf
American Bankers association ~
New York, notice that Walter W
Head was chosen FIRST vice president
for the ensuing year, Mr., Head hfine
a resident ~ Omaha, This emholden'
me TO call attention 90 a matter that
Affects every taxpayer In the country
every farmer. business man, labor
erj and mechanic 4 clnmor II raised
continually for the cancellation 81
the war debts Of Europe for the
"stablizing 81 the world. Several
publications az New York city ~
wide influence are constantly harp
ing on tho subject. IN the EFFORT "a
gull the American people and lead
congress Ia throw away American
money by the billions. The inspira'
tlon IL from British sources. Uncle
Sam is urged to play once more his
great part Of Big brother 10 the
world" Europe IL n total wreck.
civilization totters. the human race
| II ruined, unless--we cancel the wnr
debts ~ Great Britain and France,
and wipe on the slate as concerns the
lesser nations.
How much France owes ne I don't
know, but | think the sum II $1,000
0O0. 900. Recently about 1000 trained
officers were turned out Of the Amer
lean army because no money could
be found 10 pay them with, yet
France maintains an army OF 100000
men that intimidates Europe. We
are forced 10 get along with an army
ton paper u $4,000 men.
read Of great floating f0rtrefsef'
NJ the Durdanelles, sent there By
Great Britain TO friEhtsn the Turks
into giving up the richest and fair,
est portions ~ their pluudered en-.
pire. John Bull tells Us, cOndsscend.
ingly. that he intends 10 try 10 pay
ug the interest on his debt II We win
only be little patient. And while
we are being patient the clomor Tor
cancellation" still goes on with In.
creasing vim.
Strange 10 say, the people most in
terested IN discouraging any form "
reputation Of public obligations are
the very ones who are most frantic
In preaching cancellation. The idle
rich the BODYBUILDING nristoeracy
the holders Of billions Of American
are helping John Bull to boom the
new panacea. The so'callcd cancel.
lation Of war debts Is simply repudi-
alton by consent.
II Uncle sam can cancel" Europe's
bonds. what is 10 prevent him. after
a little time. from cancelling his own
bonds? How convenient IL might be
to resort to this easy trick Of bolshe.
yistic finance. Having learned how
to do 1t In Europe's case, he might
discover that II also applied very well
to affairs Of his own.
am not possessor Of government
bonds, nor bonds OF any kind. | be
lieve, however. in keeping faith In
such matters, but while we are pay.
ing our own debts. let us make other
nations pay us. II they simply can't
DO 1t, let us pack away their bonds
as relics and souvenirs Of the world
war, but never cancel a dollar OF
them till we find we've got to repudi-
ate our own government bonds.
Let us be the tools and chumps Of
European diplomats no longer, nor
listen to the siren songs Of propagan-
Ia. Cancellation is reputation by
and reputation is n danger |
ous financial theory to put afoat at |
his time. Congress should cease TO |
1and out money by the millions TO
my one who will be kind enough to |
ccept II. Every taxpayer is directly |
Interested in opposing the "concella.
ion OF the world war debt"
AMERICAN.