The Washington times., 1923-04-26
MOSIl OIL
REGION
RICH
Admiral Sees Vast Profits in
Development of Turkish
Resources.
BY GEORGE &c. DURNO,
international News Service.

international News SSENAec"
Economic development of the
Chester concession in Turkey will
offset and repay the $22,-
O00,00O,O00 spent and loaned by
the United States during the
world war.
This prediction was made to
International News Service today
by Rear Admiral Colby M. Ches-
ter, retired, whose fifteen-year
fight recently was won by for
NAL act of the Angora parliament
granting the interest he repre-
sents one of the greatest railroad
and oil land concessions ever re-
corded in history.
Will Build Garden Spot.
Eve have taken over a virgin
forest so far as. economic develop
ment is concerned" Admiral Ches.
ter declared, 'tbut we will build
that country up into another world
garden spot which will pay off
Americas world war debt. If our
oil experts are correct, enough oil
will be produced to enable England
to pay off that source alone her
States, while from other develop
ment the remainder Of the huge
obligation may be cancelled"
The Chester interests, armed with
their far-reaching concessions, plan
to enter the rich Mosul oil fields
and, by the building Of railroads
and the opening Of new oil fields,
build UP the Near East into one OF
rio in he
Will Benefit Turkey.
1--WE will make Turkey the same
brilliant field our great American
West now is" Chester said. I'VE
are not robbing the Turks. Rather,
we are merely giving them the bene-
fit of our great empire-building ex-
perience which has turned out the
greatest nation in the world. The
builder of railroads is the friend of
humanity. He brings together iso-
lated tribes and races and provides
transportation for greater economic
and agricultural development.
To back his contention that the
development of this tract the OLD
admiral cited two Instances in
American history wherein the dev-
astating. effects of war were offset
by land development.
West Paid Early War Debt.
1.-THE conclusion of the Revolu-
tionary war found America, the
newborn nation, virtually bankrupt.
It's debts were huge; the country
was small and no outlet was seen.
We went West. took over the
Western Reserve now comprising
Ohio, Illinois, Indiana and the Mis-
sissippi Valley. developed it into
the best part of the country and
brought in the means of paying off
our debt.
After the civil war, our paper
was almost as inflated as the Ger
man Tnark-we had a huge debt,
didn't expect to be able to pay off,
and if we hadn't would never have
been able to enter the world war.
Enterprising America then extended
its economic boundary clear to the
Pacific coast. The Rocky Noun
tain States were taken up and de-
veloped. Railroads were built, big
cities sprang up, the West was
turned into the American garden
spot, and the cash and trade neces-
sary to pay off the civil war debt
flowed in. America went back on
a gold basis and today it is still
there.
Debt Source Of DiscOrd.
Now we are faced with a
twenty-five billion dollar debt from
the last war, half of which Europe
owes US and cannot pay. That
debt will furnish the discordant
clement in world affairs for another
generation unless America grasps
10 the fullest extent the golden
opportunity presented in the An
CORA concession to again redeetn
its pledges through the development
II new and even greater fields"