The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-02-17

CT the Indebtedness OF these countries
to Britain, but which implied i'm
mediate arrangements for beginning
repayment of the rest. This suggestion
Of repayment instantly consolidated
opposition to the whole OF the British
plan.
Had No Intention
It became clear that existing gov
ernments on the continent had no
intention. unless firmly pressed, OF
paying the smallest percentage Of a
debt they incurred on faith Of a
solemn engagement to repay a loan
when that was possible and to pay
interest meanwhile.
If we point to the fact, as we
did in the Balfour note, that we
have undertaken to repay the
United States the heavy debt in
Cured by us on behalf of the
allies, they simply shrug their
shoulders and say in effect:
THAT is your affair. We repay
neither Britain nor America and there
is an end Of II"
The other unpleasant incident is
the speech delivered by NJ. Poincare
in the French Chamber, in the course
of, which he dealt casually with the
subject of inter-allied Indebtedness
The French prime minister then an
nounced categorically that France had
no intention of paying her debts
until she has first received her share
of reparations from Germany.
What does that mean In effect?
That the France represented by III.
Poincare has no intention of ever pay.
ing her debts.
When the colossal figure Of German
reparations is taken into account,
thirty years is a moderate estimate OF
the period required for It's hquida.
ton.
Is the French debt to lie dor
mant, carrying no interest mean
while? If it is then the debt is
practically wiped out, for the
present value of 100000, 900
pound debt payable thirty years
hence is insignificant.
The present government Of France
has therefore declared it does not
mean to pay what France owes. Sure
ly the time to dictate conditions Of
your payment Of a loan-when you
propose--to pay, how much you pro-
pose to pay, or whether you mean
ing and not after you have spent
the money.
Serves Platitudes
And yet, in the same speech in
which NJ. Poincare serves up hot
platitudes for senatorial palates about
the sanctity Of national obligations, he
dismisses Frances faithful ally with
the cold comfort that France is too
busy collecting accounts due to her
to attend-to debts she owesa
BELIEVE IN MY HEART
THAT THERE is A FRANCE
OF WHICH HE is NOT THE
SPOKE SMAN-A GREAT
FRANCE WHICH WILL NOT
TREAT SHABBILY A FAITH
FUL FRIEND WHO STOOD BY
HER IN THE HOUR OF DE
SPAIR AND WHO is NOW
STAGGERING UNDER UNPAR-
+ ALLELED BURDENS IN
CURED IN THE DISCHARGE
OF OBLIGATIONS or FRIEND
SHIP.
All this makes It more necessary
that the situation should be cleared
up without undue delay. Having just
completed negotiations for Hquidating
our own war indebtedness to America
we are in position to insist on a set
tlement with those on whose behalf
we incurred that Indebtedness.
If nothing is done the conditions
will harden against rs. We shall be
assumed to have accepted the Poin-
care reputation
/ do not know what conditions the
British government has made with
the United States Government as to
the narketability of the securities to
be created in funding our DEBT. If
they are to be placed on the market
the chance of any future deal is de-
stroyed. Ere that be done we must
know where we are in reference to
our own claims.
l trust the British government will
act promptly. Delay was justif1able
so long as we were in the same posi-