Perth Amboy evening news., 1923-04-07
SETTLING FINNISH DEBT
TOLD OF BY HASKIN
Daily Letter by Frederic j. Haskin

WASHINGTON. April THE ne
zotiations tor the repayment OF the
Finnish debt TO the United States
tween the Finish Minist-- and the
american Debt Funding Commits
sion throw interesting light on the
stability OF this new and Iittle-known
nation.
Although the debt owed by Fin
land to the United States is under
$10,000.o00 such an obligation is a
considerable burden for a non-in-
dustrial nation with only about three
million Inhabitants. 1t is note
worthy, therefore, that Finland
should be the second country in Eu-
rope TO offer to meet her American
debt.
The terms which have been sug-
gested are almost identical with
those accorded Great Britain two
months ago,a and show that this first
settlement is to be taken as a model
for all our European debtors. The
period for repayment of the entire
principal Is fixed at sixty-two years,
with interest at three per cent. for
the first ten years, and three and
one-half per cent thereafter. Prompt
acceptance of these terms by the
Finnish Parliament is anticipated by
DR.. Astrom, Minister Of that Gov
eminent at Washington, although
final ratification must wait for the
next session of u congress.
Five European natlons-Poland,
Lithuania, Latvia, Esthonia and Fin
land-were formed out OF the dis
| gAIIVtsAn AT Gzaricf pJICSfa on5 AF
these five Finland has made the most
progress on the difficult road of re-
construction. At one time an inde-
pendent state and later under Swed-
ish control, Finland was during the
Napoleonic wars annexed to Russia
as an autonomous Grand-Duchy. But
for a century the spirit OF freedom
smouldered in this wild and unde-
veloped country, flaming out when
the Russian revolution removed the
bonds of CZarist rule. On December
s, 1917 the people of Finland de-
clared their country an independent
and sovereign nation. and as such It
has been recognized by the world
powers.
Encountered Bolshevik Movement
The new Government was not
without serious problems from the
beginning. As in all the five ma
tons created from the former bor-
der provinces OF Russia there arose
in Finland a formidable Bolshevik
movement at the same time as the
Soviet form of government came to
power further east. One effect of
this trouble was to aus Sweden to
occupy the Aland Islands which lie
in the Baltic Sea midway between
Finland and Sweden.
For a long time after the revolu-
tionary movement in Finland proper
had died away the final disposition
OF these islands caused fear OF war
between the two claimants. Each
side could put up a good argument,
for the Inhabitants of the islands are
a mixture Of Swedish and Finnish
blood, and although they had been
part of the Finnish province of
Russia from 1909 TO 1917, they had
belonged to Sweden urdisputed up
to the Napoleonic wars. Moreover,
they lie so close to Stockholm, the
Swedish capitol, as to be a perpetual
menace in the hands OF a warlike
and aggressive power.
The settlement of the Aland Is
lands dispute BY the League OF Ma
IONS tWo years ago v not 90 muCb
an outstanding triumph of the
League as an agency fog tntsrna-
tional coneiliation as an indication
of the pacific character OF the Fin
nish government.
In June, 1921, after a nine months
inquiry by a commission appointed
by the Executive Council of the
League OF Nations, sovereignty over
the islands was awarded to Finland.
Sweden, convinced that the new
power would not use them for ag-
gressive purposes, promptly and gem
erously ratified the award. From that
time TO the present Finland has CIV
en- Sweden no reason to regret her
generosity. BY refusing to build up
u navy and by keeping her total mill
fitary expenditure at a figure of five
million dollars a year she has shown
not only Sweden but the entire world
that she 10 more interested IN re-
construction than in warlike adven~
lures.
The present prosperity OF Finland
is the more interesting because the
country is very deficient in modern
industrial development, only $4,000
her entire population OF 3.25o,ooo
being EMPLOYED IN factories