The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1923-07-20
4 REAL PLAN
FOR WORLD HELP
Fred ]. Kent of American Bankers
Association initiates Move to
GrappIe With Problem.
SUGGESTS TERMS OF U. S. AID
Proposes European Economic Agree
ments-5etter World Business for
America In Return for Credits
and Partial Debt Cancellation.

~ HuIOVo u udkc,
exchange for American financial hell
economic reforms that will insur
profitable international business 70
the United States. is the basis OF
plan for world rehabilitation worke,
out BY Fred ]. Kent, chairman Of tn
Commerce and Marine Commission O
the American Bankers Association
Mr.. Kent, a. delegate OF the associa
ton, recently laid this plan before tn,
meeting OF the International Chambe
OF Commerce at Rome He pointed
out that the United States has nc
right to attempt to dictate to Europe
but that when 1t comes to loanina
our money we have q right to demand
satisfactory agreements before we do
So" He continued:
How America Can Come In
AS America has not the right TO
demand that the budgets of European
countries be brought into order, that
imitation be stopped, and that mutual
understandings between the Allies and
Germany be developed, these matters
can be approached only on the basis
OF what America has that she can give
to Europe in exchange for agreements
which she believes, II carried out.
would result in increasing the trade
and commerce Of the United States in
sumcient volume to justify such &C.
ton.
From the standpoint of America
the two questions of primary impor.
lance are, what taxation will be neces-
sary to meet the requirements Of our
government. and, second, what income
VIII be left to the American people
AFTER the payment of taxes. II the
Allied debts are paid In full the peo-
pie OF the United States will not have
to meet Liberty bonds outstanding
against them through taxation. II the
buying power of Europe is not restored
the total national income Of the peo-
pie OF the United States will be less
than otherwise. II portion of the
Allied debts can be cancelled In ex.
cnahge for Agreements which will !
promptly place European Countries on
: sound economic basis, the restora. I
ton OF the buying power of Europe
VIII be greatly accelerated, and the
total national income of America will |
be increased"
Al improvement In foreign markets
or American products Is an essential
element in Mr.. Kent's plan. He saws:
II. after deducting taxes necessary |
o cover the portion Of the Allied debts
cancelled. the increase in the total
lational income of America is greater
ecause OF tho greater buying power
I europe brought about by means of
uch cancellation, the people of the
United States would be the richer.
nero would seem no doubt but that
veryone would vote for cancellation
1t would assure gteater. national net
icome, with economic peace and
reater happiness for all peoples.
Inc real question, therefore, IL
lhether 1t would be possible to CO.
perate with European government
onE such lines that, in exchange for
Of portion Of the Allied
ldebtedness to tho United States.
icy VIII give agreements aiming to
'rrect those things in their conn.
les at present economically unsound
Is not conceivable how mere can.
llation could be anything but harm.
l, unless accompanied by economic
adjustment all along the line.
further, agreements along thu
les mentioned could not be made
ective unless the whole PREPARATIONS
1sle Is settled. At the same time.
erefore, that negotiations are beinr
FRIED on in connection with any
ssiDle trading OF the portion of the
lied indebtedness against agree. n
'nts that will lay better founda. b
n Tor progress toward prosperity b
Europe, positive agreements must e
MADE between the Allies and Ger. o
ny IN connection with Preparations v
t can and will be lived up to. b
a Lean 70 Germany o.
a lean to Germany Of sufficient
to restore lar economic .,tu,.
and enable her to make prorres, :.
ard paying reparations,. and which
10 ahead Of reparatioas. with .
.inzed Europe, would be abso. lie
ly good, and II made at tho r.. W
st and for the benefit Of tbs v.
opsan Allied countr1As, II cou1A VI
sIubtedly DO placed in America. h
The constant friction which no. =,
tied between Germany and Is. ~,
% because Of the PREPARATION. On
ID be eliminated. Csnfdepc.
Id Do restored to the peoples Of ,
'pe' whose badly shaken morale wi
tho greataat ahstae1. III.