New-York tribune., 1922-09-27
Paw and Clean
House, Burton
Advises Europe
Ohio Congressman Tells
Briions Americans Be
lieve Allies Should Meet
War Debts to the II. S.
Ready to Aid Again
Warns of Fear Here That
Increased Militarism w ould
FoilowCeneral C Cancellation
By Arthur S. Draper
from The Tribunals Earopean Bareaa

Copyright. 1892, New York Tribune Inc.
LONDON, Sept. 26.--An overwhelni-
Ing majority of Americans believe that
European borrowers should meet their
obligations TO the United States, Theo-
dore E. Burton, Representative in Con-
gress from Ohio, told his audience at
the American Chamber of Commerce
luncheon to-day.
y Americans are non-mliitarfseics
4 icy are strong believers in arbitra-
tion, and they are fearful that IL they
cancel the debts owed them the na-
tions of Europe will use the money to
strengthen themselves in military
way" said Mr.. Burton. "If the peace
Of the world again is in jeopardy or
liberty is threatened then America will
not be slow to spring to the defense
Of these institutions, but right now the
United States wants to see Europe do
bme housecleaning without delay"
I'm Mr.. Burton's audience were many
Srorninent British officials and fnan-
ciers, including Sir Robert Horne,
Chancellor of the Exchequer, who sails
ntxt month for the United States to
Mold conferences on the debt problem.
4il listened attentively to the Ohioan,
y@ho has Just finished a long tour Of
Europe.
Frankly Discusses Issue
Instead of the usual pleasantries of
q luncheon address, Mr.. Burton dis
cnssed with the greatest frankness the
live questions of European reorgani-
sation and Americas attitude toward
England.
He said there might soon be another
Washington conference which would
De devoted to the problem of world
economics, but, he added, observation
Mad convinced him that Americas pres
snt attitude of aloofness in affairs on
this side of the ocean was fully Justi-
led
Detailing the reasons why, in his
spinion, America desired Europe to pay
her debts, Mr.. Burton said:
.There is a feeling that information
4, credits, especially the debts of ma
Hons. have a certain, degree Of sane
son-l might say sacredness. No one
can exaegerate the Importance of
credit in the modern financial and in
dstrial world. 1t puts the resources
Of those who do not engage IN enter
raise in the possession Of all for quick
ened activity and wholesome progress
Credit BRIDGES the chasm between un-
memising beginnings and the develop
sent of helpful enterprise. In brief,
Jmakes the hope of to-day the reaiiza-
don of tomorrow.
Would Impair DEVELOPMENT
4Cancellation or repudiat'on of
debts would create not merely confu-
zon and distrust in the f'nanc'a nj
sorld; it would seriously impair de-
wlonment. The result would rest with
special weight upon such country as
Great Britain, where for centuries
English currency and English obliga-
Cons have been the very synonyms OF
liability and assured pHvment.
s"In the case Of cancellation, what as
surance is there that the resources
Shich otherwise would be applied upon
wyments of debt would not be used
hr the expansion of military and ma
val establishments, thus creating ar
eyer-present threat Of conflict and de-
Sruct'on? I cannot too strongly en-
phas re the fact that the only effective
means for meeting these debts and TO:
healing the economic wounds of the
nations must denend on progress OF
disarmament and the maintenance OF
peare."
After the lrncheon and in an in.
formal talk among a .group Of leadire
financial interests it was brought out
! that British bankers are most anxious
y that England's debt to the United
+ates be naid, and the only question in
ia A'r minds is the method by whicr
III is may be done.
~ The new tariff was cited by each
n member of this coterie as one Of the
/ chief obstacles to settlement, and Sr
Robert Horne, during his visit to
America. will present this as the view
mot only of the British government but
4 Of British bankers and manufacturers