San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-02-07
Great Nation Acknowledges
Its Obligations and
Seeks Terms.
MENTIONS SHIP BILL
Congressman Told Merchant
Marine Is in Urgent
Need Of Help.

dressed Congress today, bill to amend
the debt law TO provide for acceptance
of the British settlement and for set
Elements with other debtor nations on
similar terms was introduced by Sena-
Of the debt commission.
Senator SmoOt said the House prob
ably would act first on the legislation
and that ii would be brought before the
Senate Immediately aft the House
passes the bill, and ahead of the ship
ping bill.
Washington. ID. C.. Feb. 7.-Congres-
Sional approval of the war debt fund
ing agreement negotiated with Great
Britain was requested by President
Harding today as "recommitment Of
the English-speaking world to the val
idity of contract
Coupled with this approval. the Presi-
dent added in an address at joint ses-
sion of the Senate and House, Congress
should enact into law the administration
ship bill because 1T is as important to
avoid losses IS it is to secure funds on
debts"
Ample time for action on both of
these measures. it was declared by Mr.,
Harding. remains before the present
Congress goes out of existence on March
/. and either he said. was fit to be re-
corded as a chapter Of great achieve
ment.
The President made no specific rec
ommendatiOn as to the form the action
of Congress Oh the British debt should
take. leaving it to the leaders in Con-
greSS to decide what method should be
adopted to amend the present law so as
to permit cOasummlt:, n of the agree
ment recently reached blythe American
and British debt commissions.
1T was manifest from the beginning,
he said. that Great Britain could not
undertake any program of payment
which the commission had been author
lied to grant. But here was great
nation acknowledging its obligations and
seeking terms in which it might repay.
So your commission proceeded TO ne
gotiate in a business way for fair
and lust settlement. Your commission
went so far as it believed the Ameri-
can sense of fair play would justify.
at means vastly more than the mere
funding and the ultimate discharge OF
tracted. 1t is n recOmmitment of the
English-speaking world to the validity
of contract; it is in effect a plight
against war and war expenditures and
n rigid adherence 10 that reduction and
retrenchment which enhances stability
precisely as it discharges obligations. "
Alluring indirectly to proposals to at
tach TO the congressional act of APPROX
al a soldiers bonus bill, the President
reminded Congress that the Wartime
authorization for the loans contained
in itself stipulation that, when the
money was paid back it should be ap-
piled TO the retirement of Liberty bonds
and other government issues.
As part of his statement on the
debt negotiations the executive read u
report from the American commission,
headed by Secretary Mellon. describing
the settlement as "fair and just TO both
governments" and predicting that 1t
would make a most important contri-
button to international stability.
o. Mr.. Harding's appeal for action on
the ship bill was prompted, he said.
by suggestions that its opponents were
seeking 10 prevent a roll call on it be-
fore the end of the session.
"Merc avoidance by prolonged de-
bate" he declared, lis a mark Of inn
potence on a vitality important public
question. ] plead for decision. II
there is a favorable majority, the bill
should be enacted. If a majority Is
opposed. defeat will be decisive. Then
if Congress fails in providing the re-
quested alternative measure, the exeeu-
tive branch of the government may pro-
coed as best it can to end the losses
in liquidation and humiliation"
Full Text of Speech.
The full text of Presiders Harding
address follows:
To the Congress:
You have bCrn asked to ASSEMBLE in