The Dawson news. (Dawson, Ga.) 1889-current, 1923-02-27
CONGRESSMAN CRISP
IN THE BRITISH DEBT
THIRD DISTRICT REPRESENT
ALIVE EXPLAINS PLAN AND
URGES RATIFICATION.

WASHINGTON, D. C.-Repre-
.sotative Charles R. Crisp, Georgia's
.bre member of the ways and means
committee of the house, made one of
tbe most effective speeches in advo-
,,cv of ratification of the British debt
sattlement just before the measure
was carried in the house. Judge Crisp
discussed the question in broad
minded way which won great ap-
otause from both sides of the cham
her Mr. Crisp said in part:
"When our government made these
loans it took demand obligations, the
first ones drawing 3 per cent, and
finally the obligation of Great Britain
took the form of a promiSsory note
navable on demand and bearing 5 per
cent interest That was made during
the war as a war loan to help our
allies carry on a common war, fight
ING a common enemy. Now the war is
over. The commission advises us that
i is impossible for England to pay
that demand note at once, and no
sensible man for one moment believes
i Is possible for England to pay now
anoroximately $5,000,000,000 as the
bond denominates. Therefore, the
wise and sensible thing to do was to
fund and settle the debt. Congress
A appointed a commission to do that.
That commission was limited as to
the time to which they could extend
the debt as to the rate of interest.
Now. | wish we had more informa-
\ ton. | recognize, however, the deli
cacv Of the situation from an interna-
\ tional standpoint
There are only two ways to col
lect an international debt One is by
s the voluntary payment OF the debt
4 The other is by the use OF your army
B and navy, and God knows | would not
+ vote to send any American boys over
s seas to collect this debt and | say to
you what you all know, that it is I'M
n thinkable that there should ever be a
conflict between the two great Eng
4 disappearing nations on the earth over
N money. But | do say that this settle
4ment is a reasonable settlement. Most
B OF the wars that have been fought
y have been fought over commerce,
money Here are the two greatest
NnationS on earth, the English-speak-
ling nations of the world, setting an
&example to the world showing that
they can amicably adjust their bus.
lines rel lions, even to the amount OF
MS, 060 100000, to- the welfare and hon
er OF both nations. That, in my judg-
4ment is what this settlement does.
Today the English people are pay
E inc the highest taxes of ANYBODY in
the world! Their income tax is high
er than ours. We come next to them.
Our taxes are next to theirs in the de-
gree of burdensomenesS; but the per
capita taxes in the United States are
3 Sl60 a year, while the English per
capita is $500. Our Indebtedness, COM
+ pared to our national wealth, is small,
s while theirs is approximately 81 per
cent OF their national wealth.
Mr.. Speaker, Great Britain is the
4 only nation OF the world owing us
3 that has made any effort whatever to
s settle her indebtedness, or has &. re-
\ ,ponded TO our invitation to enter into
4 negotiations for funding same. 1t is
certainly to her honor and credit that
+ she regards as inviolate her obliga-
tons and wishes to settle them so tar
& as her ability to do so permits. AS
have before stated. | am opposed
10 the cancellation Of the amounts
q owing to us by other nations, and. in
8my judgment, the funding of this debt
4 will be notice to France, Belgium,
n Italy and other nations owing us that
the United States demands and ex-
poets them to pay their Indebtedness,
and | have no doubt that national
pride and honor will induce them to
lund their debt on the same basis as
herein proposed. Would not every
q American rejoice today if he knew
Il that we would be paid back the prin-
4cpal owing to us by foreign nations,
#Wth 3 per cent interest on each! l
lam a democrat and have my share OF
craftsmanship, and | am willing to play
MpohtlCS on domestic questions where
ltac welfare of humanity IS not 1nvolv-
Med. | do not arrogate to myself SUI
#perior virtues over my colleagues, but
Naccord to each of them the utmost
#sncerity of purpose and believe that
#tbey vote their convictions, having in
mud the best interest of the coun-
#try Just as | do In my judgment
#the war-torn, tax-burdened weary old
8Wor.d longs, above everything else,
ior sterilization of world conditions
#Whlch will tend to promote peace,
prosperity and happiness of the peo-
PIE OF the world In my judgment,
IT. funding OF this debt is the first
#step inaugurated by this administra-
&ton that tends to do this. Therefore,
shall not let politics nor, possibly,
lny own personal political welfare de-
Fer me from voting for proposition
that, from the depths of my soul, |
believe is fair and reasonable to the
Extracting parties and tends to pro-
mote the welfare and happiness OF
humanity"