The Washington herald., 1922-12-22
Dec. 20, 1922.
Editor of Ne1o York American:

II "OhACAAhS IL
i it would be we'll for the
United States Government to act as
arbitrator in European affairs-not
to involve itself in European chican-
cry, but merely casually to act as
arbitrator.
Possibly you may have accepted
some of the propaganda of the
international bankers which is now
being very generally and very in
dustriously circulated by gentlemen
who hope to profit by our partici-
patton in European affairs and by
another gigantic European loan.
Looking at the matter purely
from the interests of the people of
the United States and not from
the interest of the international
bankers, it certainly would not be
well for the United States to in
volve. itself as arbitrator or in any
way in the present dangerous
European situation.
There are some things which can
not be done in moderation, and
which it is dangerous to undertake
at all.
You cannot resolve and attempt
to cross a bog by merely stepping
lightly. You will soon find your
self floundering in the mire.
Nor can you cross a quicksand so
hurriedly that you will not soon be
sunk up to your head or over your
head.
The United States cannot involve
itself at all in the present critical
European situation without the
probability of being dangerously
enmeshed in it and engaged in an
other war.
Let us take the concrete instance
at hand. Suppose the United
States should arbitrate in Europe,
and suppose the nations against
which the arbitration goes should
be dissatisfied with it and refuse
to abide by it.
The policy of the other nations
would be, of course, to enforce the
arbitration, and they would GER
tainly call upon the United States,
who was responsible for the arbi-
tratiOn. to assist in the enforce
ment of it.
The United States would have to
do this. or else retreat in a humil-
iating way with its arbitration un-
needed and with a European war
provoked as a result of the reJec-
tiOn of its arbitration.
This the United States would not
be likely to do; first, because the
pride of our public officials would
not permit them to do it; and,
secOn6, because the interests of the
international bankers would not
allow them to do it.
\ war in Europe at present in
which the United States should be
engaged would be the most disas-
trOus war for this country that could
possibly occur. because this country
our United States of America
would be practically the only sound
financial nation in the war, and
we would, therefore, have to
finance not only our own opera
tiOns but all the operations of
those nations which would be al
lied with us-nOt merely part of
them, as we did in the last war,
and which resulted in our being
burdened with twenty-four billions
of debt, but all of them, and prob
ably for a longer period, which
would result in our people being
burdened many times with twenty
four billions.
Then we. too, would be ruined :;
reduced to the condition of the
European countries, and that con-
ditiOn made even worse than it
now is.
Furthermore, there is no reason
| for the United States to arbitrate in
Europe or to intervene in Europe in
any way. There is nothing that the
United States can do for the ma
tions of Europe that they cannot
do for themselves. if they only will.
England is regaining its pros
perity, slowly but steadily.
France could regain its prosper
ity - its people are prosperous
enOugh-and its government would
4 rh ,I,,n, e -