The Challis messenger. (Challis, Idaho) 1912-current, 1922-05-03
AMERICA READY TO
MAKE COLLECTIONS
" 10 BELIEVED ENGLAND CAN
PAY lNsTALLMENT ON &C.
COUNT OF INTEREST
czecho-Slovakla May Remit Some,
But France and Some Others
Are Not In Position to do
Anything Now

N'~~SssAeA6Soe3
whose function It is to collect tho
$11 .OOO. 000. 600 owed to the Unitei
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 to make. 1t ia
easy for any well.informed person to
guess approximately what these re.
sponses will be.
Great Britain will probably pay q
considerable sum on account of the
accrued interest and express willing
ness to accept any terms that tho
United States may suggest about fu-
ture installments. Aside from Great
Britain. 1t is difficult to think of any
of the other natoins that is likely
to make7 my payments on account.
1t Ga, AnpssiDiG that the GsAah0.
SlosA.- t&ernment may be pfg.aFad
to do something in q small way This
government is about the only one of
the various new nations set up by the
Paris inference thlt has conducted
its fiscal affails In such . way as
to qualify as solvent debtor. As a
resule of Czecho-Slovak economy and
the sound management Of its finances
It 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 a re-
port by the commission to congress.
That report may turn out to be dis.
APPOINTING to congress and the country.
So fur as the country expects all. OF
these debts to be refunded on nor.
NAL basis at a normal rate of interest
and with installments beginning i'm
lnediately, the country is likely to he
disappointed.
beyond these three steps it is diff.
cult to see farther into the future. BY
tile 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 cur
rency should decide as result Of
the Genoa conference to stabilize their
currency and otherwise bring their
fiscal affairs to sound basis, there
Is likely to be request by some Of
them for an advance Of part If
the United States gold to serve 10 ~
basis for their new currency.
At this point It 10 going to be ne
cessary for America to practice a good
deaf Of wisdom. II any Of those Eur
opsan countries show IN honest dis
position to stop spending more than
their income and to stop printing pa
per money, then It would be q wise
tn6 statesmnnlike thing for America
to lend them some American gold un.
der proper restrictions.
: Just why It 10 disadvantageou for
America to have such disproportior
ately large share Of the worlds gold
supply and why It would be advan.
tae0us for America TO devote some OF
It to enabling other countries TO sta.
billie their currency 10 more COM
pick aspect Of economics than 10 com.
monty understood. Incidentally, one
of the countries that owes money to
the United States 10 Russia. Russia
owes some hundreds Of millions to
the United States government and al.
SO owes some hundreds Of millions -
AmAricNH hankara