Iron County record. [volume] (Cedar City, Utah) 1893-1982, 1922-05-05
AMERICA READY TO
MAKE COLLECTIONS
IT is BELIEVED ENGLAND CAN
PAY INSTALLMENT ON Ac-
COUNT OF INTEREST
czecho-slovakia May Remit Some,
But France and Some others
Are Not In Position to do
Anything Now

Washington. The commission
whose function It is 20 collect tho
$11 ,OO0.OO0OO0 owed TO the Unltsd
States by various European nations
has organized. The next step, neces-
sarily, will be for this commission to
give formal notification to the Eur
opean debtor governments of the COM
MISSIONS duties In the collection OF
these debts or In the making Of ar
rangements for their collection, and
then to await such responses as the
nations may decide 10 make. II Is
easy for any well-informed person to
guess approximately what these re-
sponses will be.
Great Britain will probably pay
considerable sum on account of the
accrued interest and express willing
ness to accept any terms that tho
United States may suggest about flu
ture installments. Aside from Great
Britain, II is difficult TO think of any
Of the other natoins that Is likely
70 make any payments on account.
II IN just possible that the Czecho-
Slovak government may be prepared
10 do something In small way. This
government is about the only one OF
the various new nations set up by the
Paris c,nferenca thot has conducted
its fiscal airuiis In such a way as
TO qualify as a solvent debtor AS
resule Of Czecho. Slovak economy and
the sound management of its finances
Il has recently been able to borrow
several million dollars from private
bankers In America and Great Britain.
After the debt refunding commits
sion has received its various answers,
the next step. logically. will be re-
port by the commission to congress.
That report may turn out to be dis
APPOINTING to congress and the country.
So far as the country expects oil OF
these debts to be refunded on a nor
mai basis ut normal rate of interest
and with installments beginning i'm.
mediately, the country is likely to be
disappointed.
Beyond these three steps 1t 10 diff
cult to see farther into the future. BY
the time all this has taken PLACE Ger
tain other angles Of the European
situation will be clearer than they
are now. II those of the European
nations which have debased their eur
rency should decide rs a result u
the Genoa conference to stabilize thei
currency and otherwise bring thei
fiscal affairs to u sound basis. ther'
Is likely to be request by some o
them for an advance of part q
the United States gold to serve as I
basis for their new currency.
At this point II is going to be ne
cessary for America to practice goo'
deal of wisdom. II any Of those Eur
opean countries show an honest dis
position to stop spending more thai
their income and to stop printing pa
per money. then II would be wis
: and statesmanlike thing for Americ
to lend them some American gold III
der proper restrictions.
: Just why IL is disadvantageous 10
America to have such n disproportion
ately large share OF the worlds gol
supply and why 1t would be advar
tueous LOT AneriCu W uSNoto sumo
II to enabling other countries to ST.
Billie their currency Is more con
, pick aspect of economics than Is con
!. monty understood. Incidentally, on
: Of the countries that owes money
the United States is Russia. Russi
owes some hundreds of millions
the United States government and a
A so owes some hundreds of millions
{ American bankers.