Evening star., 1922-12-15
Debts and Reparations.

Eonar Laws statement in the house
NJ commons yesterday that Great
Britain cannot pay what it owes the
United States unless Germany. France
and Italy pay their debts to Great
Britain puts the question Of inter-
allied Indebtedness on a new basis, SO
far as Europe is concerned. but does
why there should be a change OF at
titude on the part Of this government
IN respect to such Indebtedness. There
never has been any disposition by the
American government or the Ameri-
can people to wiring from our war
debtors money which they did not
have. There never has been any
thought that executions or writs OF
attachment would issue from Wash
ington against London or Paris or
Rome. Congress has created, and the
President has appointed. a commission
which is authorized to arrange fund
ing of the debt on terms which our
debtors feel are within their respective
capacities. If they do not feel that
they have any capacity, present or
prospective. for paying off the debt,
there is no idea OF coercing them.
They can remain In default or definite
" repudiate the Indebtedness, and we
will not go to war to enforce collec-
ton.
But voluntary cancellation of the
Indebtedness is another matter. Be
fore the American people will consent
TO that Europe will have to make a
different showing from that which she
has made during the last four years. 1t
IS conceded that the nations which
owe us money are in hot water today.
but the fires which heated the water
were of their own building. The war
started the trouble. of course. but
every intelligent observer knows that
me course Of the nations since the
war has aggravated their difficulties.
They have not done the best they
could to help themselves. and as a re-
suit Of this failure to do their best it
has not been possible for Americans
to extend the help which otherwise
might have been made available.
For example. a huge loan now is
proposed to enable Germany to get
on her feet and in position to meet
reparations payments. billion and a
half dollars being the figure men.
toned. It is proposed to raise the
to ~
nowhere else could any considerable
part Of 1t be raised 1t is conceded
that as a condition prerequisite to the
raising Of the loan there must be a
definite and practical settlement Of
the reparations question. 1t Is init.
mated that In order to obtain this loan
the nations most directly interested in
separations now are willing to be
definite and practical. Had they been
willing to be definite and practical
two years or three years ago such a
loan could have been fioated then
much more easily than 1t could be to-
day, for the credit OF Europe then
was much less seriously impaired.
And had the European nations then
made it possible to obtain such a loan,
Europe today would be well on the
way to recovery from the effects Of
war. and national self.respect would
not be put to the ordeal Of protesting
inability to meet national obligations.
The United States is today, and has
been ever since the armistice. ready
70 help Europe In all fair and practi-
cal ways to get back on her feet; If
for no other reason than because 1t is
10 our self.interest to do SO. But the
American people have kept themselves
fairly well informed as to the course
Of events in Europe during the last
four years. and they are no more
ready today than they have been at
any time in the past to be made the
goat" of European misadventures.