Evening star., 1923-03-01

completed settlement of this greatest
financial transaction in less than
month.
The raising Of twenty billion dollars
vas not an easy task. the ambassador
admitted, but it has been done.
When the time came to settle with
the enemy, continued the ambassador,
I'VE were gratified TO hear that our
portion of the reparations would
not be less than ten billion dollars
when their pockets had been thor
oughly searched; whereupon we
valves our claim in the allies favor,
time, even though thus far the
searching has been less productive
than anticipated
While not wishing to defend or
seek credit for the part the United
states played in the war. Mr.. Harvey
wanted to make clear that our CON
tribution was undoubtfully helpful;
! it may, indeed, in the generous
words of your premier, have been de-
cisive."
Denies British Statement.
He thought the fact that 80 per
purchased United States bonds were
descended from the United King
| dom could imply but one thing
that il our people h;a had .xniI, Sup
sively. though indirectly, through
the British government 10 the other
allies. we simply could not have
raised the money. You see we GER
tainly thought we were helping Eng
| land"
He would not have mentioned the
matter, he said, but for the cir
cumstance that an official statement
of the British government promui.
gated August 1 last contains the
SPECIFIC assertion that under the ar,
rangement arrived at the United
States insisted in substance, II not
. in form, that though our allies were
| to spend the money, 1t was only on
=, our security that they were pre-
! pared to lend it
The ambassador expressed the
| opinion that at some sultapie i.,s Iii,s
| "the British government Will. win
| ness, remove the misapprehe nsion
| created by this unfortunate allusloh'
VIII Not Cancel Debts.
| "The simple fact is," he continued.
Chat barring Russia, which could
| not get our products, the all1es owe
| the United States more than they
owe Great Britain.
United States had no intention OF
| running the credit of any other coun-
try by canceling its debts. After
de failing the amount and terms OF
payment of the British DEBT. wh,cn en-
even be Considered generous" the
ambassador paid tribute to Chan-
cellor Baldwin and the funding com
mission and concluded:
"Great Britain did nobly. America
recognizes and glories in the fact
She also hopes the mother country
| will consider that she, too, regarded
faithfully the obligations of justice
honor and fidelity to each other"
ChanceIlor's Speech.
4 Ill oh
at the Pilgrims dinner. said:
"The debt funding commission
could not have dealt with men more
J competent. more fair or more de-
sirous Of helping to a settlement. |
! claim no skill as a negotiator: we
were lucky in the circumstances OF
our arrival and in the time at which
we negotiated. Sir Robert Horne
| (former chancellor of the exchequer)
would have done at least as well, and
! his smile would nave peen worth that
, II would only say of the debt that
we stand in this country as we have
/ always, done, and as America stands
| for the sanctity OF contracts. We
have concluded with America the frs
! settlement since peace. We are glao
TO have done it, We made fail
settlement; we have been fairly met
and we all rejoice that 1t has been
Mr.. Baldwin said they were goine
theory with the opportunity of OBJ.
serving what happened in practice
when large remittances were made
frequently between two countries
The works on political economy tina
would be written in ten years hence
Of pure theory. but from experience
| Of pure theory modified by practice.
Plea for Understandinx.
IF there is one thing that the worlt
needs today more than any other
said the chancellor, at is that the
two great countries, Great Britain
and America, should understand
know and appreciate each other. Il
there is one thing that affords a bal
to that knowledge and which is otter
| the occasion for the happening o1
things we all regret, 1t is the fac
that we speak a common language
From the fact Of our speaking a com
mon language will say nothing o.
,Americans-the average Englishmar
feels he knows America and that HI
has nothing to learn about it. Their.
is nothing to be more desired thar
that the statesmen and budding
| statesmen in both countries shoulC
learn by personal contact something
Of the other.
''The two things the world wants to-
day more than anything and withou
which there can be no prosperity, ar,
peace. first and foremost, and eco
nomic stability, and that economi,
stability can only come when peac.
is assured. Without those two thing.
there Is nothing before the human
race but ultimate bankruptcy, blood
shed and starvation.
TT behooves those who have faiti
in them to stand UP and join hands
and IL the English speaking people,
join hands in the determination tina