The Filer record. (Filer, Idaho) 1919-1930, 1923-09-06
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-5etter World Business for
America in Return for Credits
and Partial Debt Cancellation.

economic reforms that will insur.
profitable international business 10,
the United States. is the basis OF 4
plan Tor world rehabilitation 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 Chamber
OF Commerce at Rome. He pointed
out that the United States has no
right TO attempt 10 dictate 10 Europe.
but that when II comes 10 loaninr
our money we have a right 10 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
suficient volume 10 justify such &C.
ton.
From the standpoint OF America
the two questions OF primary impor.
lance are. what Ration will be neces-
sary to meet the requirements OF our
government, and, second, what income
viii be left 10 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 er.
change for agreements which will
promptly place European countries on
a 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.. Kents plan. He says:
III. 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
hronuhf Oh I
such cancellation, the people OF the
United States would be the richer. .
There would seem no doubt but that
everyone would vote for cancellations
{ II would assure greater national net ,
income. with economic peace and
'reater happiness for all peoples.
The real question. therefore, 10
whether II would be possible to Co !.
'perate with European governments !,
long such lines that. in exchange for
sncellation OF portion of the Allied
TO the United States,
hey will give agreements aiming TO
0TTect those things In their coun-
ries at present economically unsound.
/ is not conceivable how mere can.
citation could be anything but harm
u. unless accompanied by economic
adjustment all along the line.
Further. agreements along the
mes mentioned could not be made
Elective unless the whole repars lions
ingle Is settled. At the same time,
Ierefore. that negotiations are being
srried on in connection with any
ossible trading OF the portion OF the
llied indebtedness against agree
ents that will lay better founda. r.
on for progress toward prosperity =
Europe. positive agreements must
, made between the Allies and Ger.
any in connection with Preparations
at can and win be lived up to. n
A Loan TO Germany
"A loan TO Germany Of SUFFICIENT
re 10 restore her economic situa.
IN and enable her TO make progress
ward paying reparstons. and which
me ahead OF PREPARATIONS, with
abillzed Europe. would be abso-
tely good. and II made at the re-
est and for the benefit OF the
iropesn Allied countries. II could
doubfedly be placed in America
The constant friction which has
isted between Germany and the
les because OF the repsrstions
uld be eliminated. Confidence
uId be restored to the peoples Of
rope. whose badly shaken morale
probably the greatest obstacle in
way Of accom- lishment Of thoss
ars necessary for stability.
No force exists in the American
Ternment which would permit ne
iztions such as those outlined. But
American Congress IL the servant
he American people when the PEG
choose 10 make IL 30. II is cor
able that the effect Of ar aroused
lie opinion over co-operstior With
opean nations 10 restore the busl-
J OF the world would cause tie