Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-10-03
Lamont Suggests
Clipping War Debt


continued from PnTe One
thousand of our sons. there would have
been no hesitation as to our choice.
! Fate. however determined the
choice It determined that Great Britain
and France should give up the lives
during that first year. and that we
should furnish not our blood. bnt our
money; taking. however, In place of
1t the promises to pay of our Allies.
! ''No other policy could have been
followed at that time, ! grant you. but
| now that the war is behind us and We
can take long look back, is 1t wise
for us, Is 1t just, is II generous not to
| make some compromise of this lnatter!'
! Mr.. Lamont sought to console the
farmers who, he suid, complain that
Though this is Il big season for crops,
our net money gain will be small
Farmers and Low Prices
"I shan't attempt to argue the point
Of lower prices" continued the finan-
cier. but l never knew a country to
60 broke because Of its abundant crops.
| SO, even though our farmers suffer dis
appointment, thiuk the low-price
hurdle the easiest one to jump. The
/ farmers had high prices in 1910 and
! 1920. but the aftermath was serious
one for them. In the long run, they,
like all Of us. will fare better on
moderate price scale, with small fluctw-
atiOna.'
Labor strikes rise as one of the most
serious obstructions to prosperity, Mr..
Lamont declared, "even though the
worst may now seem TO be over lie
asked his audience to remember that
in this country there nrc still traces OF
arrogance among employers, rs there
arc manifest signs OF arrogance IN
labor"
President Harding's veto Of the
Bonns Bill, with its threat to tax
billions more out of the American peo.
pie and distribute 1t in such way that
probably no one would receive real
benefit" temporarily lcapcd that hurdle
and "creatcd feeling of relief said
MIR. Lamont.
OF the tariff he said: 1--WE shall be
fortunate. indeed, If we dc. not find that
In practice it protects lot Of indus.
tries that do not require protection, and
cuts off from our farmers and manufac-
turers lot Of foreign markets that are
rendy to buy our commodities.
Crisis for America
Rcparations, said Mr.. Lamont, have
not reached stage in the public opin-
ion of both America and Europe Sec
ondary to internllied indebtedness be-
cause. he declared, 1t is generally rec,
ognized that Germany cannot or VIII
not ever pay anything like the repara-
tions total fixed in the Versailles
Treaty"
Finally. he concluded. ''do not for
get TINT. as the nations of Europe face
great dangers. America, too, Is facing
crisis, though Of different order. we
have gained great power. with the
power goes responsibility: Have we dis
charged it? For the period of the war,
INV answer is yes, a thousnndfold. yes.
For the period since the armisticc. can
any one Of us search his heart and an.
swcr yes? lie have, 1t Is true, ofered
criticism to the nations of Europe. we
have shouted advice across to them. But
we have been timid and fearful of petty
cntang!ement. Now we have, 1t would
seem, come to the parting of tho ways.
Prob. ms Nearly Solved
Myron r. lIerrick, who tomorrow
goes back to his post as American Am
bassador to France, pleaded with the
tnni,ers of the Nation ito make strong
reorganization plan to enable us to reap
the fruits Of victory
Unless this Is done soon. he told the
tinanciers. the fruits of victory Will be
lost. There are three or four bridges
out along the line and IL is up to Amer
ica to put them in.' he said.
Mr.. lIcrrick asserted the belief that
the reconstruction problems. which from
1917 until long after the war ended
seemed beyond solution, now appeared
near solution. lie said he thought that
within year some program would he
formulated by America which would
lead to the regeneration of Europe.