Evening star., 1923-10-05
. GernaenI.oan, I. Opposed
Risk Too Crest for US, View
Of Observer.

Z -f
a The American public should fsei.i
indebted t6Mr Sinclair for e-iilum-
inatl4g articles appearing n The
Star and other leading papsrs on the
economic conditions prevailing I'm
Europe. Bottled down. Mr.. sinclairs
articles s6ow sthat. II Europe keepsa
going at the present rate she is head
ed for bankruptcy-the sooner tnef
better The same. law applies to, na7,
tions- that applies to- Individual
you cannot spend more than you earn
and keep going. 4
1t has been perplexing problem,
to most OF the@people why the issue,
Of all; these, paper marks. francs,
kronen, etc Europe has gone to the
pawnbrolser. and hooked all her jew,
els; she has mortgsged herself to the
'hilt, and now. without any securities
that are unincumbered., is asking
Uncle Sam to help her out OF the
mire. Why, the American people
would not lend to their brother under
such conditions.
Two senator's. one a republican and
the other a democrat return from an
intensive examination, of European
financial conditions. One comes back
fllIed with altraistic sentiments to-
help Europe. the other advises TO,
keep hands of. II. Mr.. Sinclair has.
stated the facts, which Of the sem
ators is right in his diagnosis? Is,
1t politics or economies? Take a
concrete CASE Will the senator who
Is SO enthusiastically in favor of
America lending Europe, more money
on such securities as. they have today
be willing to lend one Of his own
people few thousand dollars to-
build a home, with the home place.
for security and the borrower SOL
vent and able to pay?
EThere is not the least doubt in the
minds of people who have watched
events developing in the last year that
the little German has been trying his
Atlantic pay the war chest. His actions
have been as sinuous as they have been
insincere. He figured that If he evaded
the payments of reparations,' France.
Belgium, England and the other
debtors to the United States would en-
While the prospects for getting our
money are extremely doubtful under
the present economical conditions, yet
the American people will never stand
debts to us: this merely spells that
German triekeYy wins, and the Fat
Boy" pays the bills. - -
The people Of this country have been
900 of American dollars have gone over
there each year for the past two or
three years, by way Of tourists and
remittancezto the old folks: We have
FED fed their I,o starving and clothed the ,
ner of all, has the efrrontery to ask us
to give her a few billions of dollars
to rehabilitate her industries. Suppos-
chased all the manufactured goods we
needed in order to stabilize Europes
texchange, @the result would be bank
ruptcy for half the manufacturers of
this country. Again. are we going to
and let our allies sink. She lost moth
ing SO far as her material industries
are concerned, but did destroy the in
dustries of France, Belgium. Italy and
others in the most wanton and van
realistic way she could devise.
Supposing that in 1ST2-73 France
had acted the part of piker and
welcher, as Germany has done in
France be today? God help her.!
There, are some that say France is
! militaristic. but the imperial German
republic tsuch a travesty on the
name of republic) is not. When the
German People. kick the imperial out
L "a VIZ iSPubiiS anu TCtCSdtc
the Ludendorffs and Hindenburgs,
with their military uniforms and dec
orations, to the discard pack, then the
American people will begin to think
that there is CHANCE for real reform.
The fact that the riffran of Amer
lean people, the unspeaktpS millions,
havG a better. more correct slant on
European conditions than all the
senatots and congressman that have
gone. oSer there with their political
optics sopen and the economic eye
with a bad case OF cataract affect
| ing it,
Let the people of Europe balance
| their budget-that is. income and eX-
pense account practically, the same.
Until this is actually accomplished
ALI hope is lost for salvation for
either inflationist or defiationist. AS
long as TO per cent or more of ex-
penses 4gR for military ornaments
| there canlhe no such thing as a busi-
| ness administration of affairs of
ithese natfotisr---With such instruc-
tions to the American jury as Mr..
\ Sinclair has submitted, there can be
| but one verdict: Hands off.
EDWARD ARNOLD