The Bingham County news. [volume] (Blackfoot, Idaho) 1918-1930, 1923-06-01
A 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-eetter World Business for
America In Return for Credits
and Partial Debt Cancellation.

America In Return for Credits
and Partial Debt Cancellation.
Agreements by Europe to make, II
exchange for American financial help
economic reforms that will insure
profitable international business 70,
the United States, is the basis of 9
plan for world habilitation worked
out by Fred l. Kent, chairman of the
Commerce and Marine Commission OF
the American Bankers Association
Mr.. Kent, as delegate of the associa.
ton, recently laid this plan before the
meeting OF the International Cham bel
OF Commerce at Rome. He pointed
out that the United States has no
right to attempt to dictate to Europe,
but that when It comes to loanins
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 tho 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
sufficient volume to Justify such &C
ton.
From the standpoint of America
the two questions of primary impor-
lance are, what .xation will be neces-
sary to meet the requirements of our
government. and, second, what income
Will be left to the American people
after the payment of taxes. If 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 a portion of the
Allied debts can be cancelled In ex-
change for agreements which will
promptly place European countries on
sound economic basis, the restora-
ton of the buying power of Europe
will be greatly accelerated, and the
total national income of America will
be increased"
An improvement In foreign markets
for American products is an essential
element In Mr.. Kent's plan. He says:
1T, after deducting taxes necessary
to cover the portion of the Allied debts |
cancelled, the increase in the total
national income of America is greater |
because Of the greater buying power
Of Europe brought about by means of |
such cancellation, the people of the |
United States would be the richer.
There would seem no doubt but that
II 1t would assure greater national net
Income, with economic peace and
greater happiness for all peoples.
1.-THE real question, therefore. is
1t would be possible to CO.
operate with European governments
along such lines that, in exchange for
of q portion of the Allied
Indebtedness to the United States,
hey will give agreements aiming to
correct those things in their coun-
,ries at present economically unsound.
t Is not conceivable how mere can
could be anything but harm
ul, unless accompanied by economic
all along the line.
Further, agreements along the
ines mentioned could not be made
effective unless the whole reparations
angle is settled. At the same time,
therefore,, that negotiations are being
arried on In connection with any
possible trading Of the portion of the
Allied indebtedness against agree
nents that will lay better founda.
ion for progress toward prosperity
n Europe, positive agreements must
q made between the Allies and Ger
lany in connection with reparations
hat can and will be lived up to.
A Loan to Germany
"A loan to Germany OF sufficient
lie to restore her economic situa.
on and enable her to make progress
,ward paying reparations, and which
anne ahead Of reparations with
tabilized Europe, would be abso-
Itely good. and II made at the re
uest and for the benefit of the +.
uropean Allied countries, II could
be placed in America.
The constant friction which has q,
listed between. Germany and the
lilies because Of the reparations
ould b eliminated. Confidence
ould be restored to the peoples Of
urope. whose badly shaken morale
probably the greatest obstacle IN
Q way Of accom- plishment Of those
ings necessary for stability. A
mo force exists In the American II
warn m ant which vau1A n>rv,A M p