Perth Amboy evening news., 1923-02-07
President for Recommitment
of EngIish-S Speaking World
to Validity of Contract

WASHINGTON, T e b. T.
Congressional approval of the
war debt funding agreement ne
gotiated with Great Britain was
requested by President Harding
today as Hrecommitment Of the
English-speaking world to the
validity of contract
Coupled with this approval,
the President added in an ad-
! dress to joint session of the
senate and House, congress
should enact into law the admin
istration ship bill because it is
as important to avoid losses as
it is to secure funds ON debts. )"
Ample time for action on both of
these measures. it was declared by
Mr.. Harding, remains before the
present congress goes out of exist
ence on March A, and either, he said,
was t'ft to be recorded as a chapter
Of great achievement"
The president made. no specific
recommendation as to the form the
action of congress on the British
debt should take. leaving it to the
leaders in congress to decide what
method should be adopted to amend
The present law, so as tc permit con-
summation of the agreement recent
" reached by the American
British debt commissions.
at was manifest from the begin
ming he said, that Great Britain
could not undertake any program
Of payment which would conform
10 the limitations of time and In
crest rates which the nm ssi On
had been authorized to grant. B 1T
here was a great nation acknowi-
sdging its obligations and seeking
terms in which it might repay.
$50 your commission proceeded
20 negotlatet in business way for
a fair and just settlement. Your
commission went SO far as it bellev
Z &c the American sense of fair play
would justify.
ut means vastly more than the
mere funding and the ultimate dis-
charge of the largest international
loan ever contracted. 1t is recon-
mitment OF the English-speaking
world to the validity of contract. 1t
is in effect a plight against war and
war expenditures and rigid adher-
ence to that reduction and retrencn-
ment which enhances stability pre-
cisely as it discharges obligations"
Abiding indirectly to proposals to
attach to the congressional act of ap-
President reminded congress that
the wartime authorization for the
loans contained in itself stipulation
that when the money was paid back
!, 1t should be applied to the retire.
i ment of Liberty Bonds and other
government issues.
AS a part of his statement on the
debt negotiations, the executive read
a report from the American com
mission, headed by Secretary Mel
ion, describing the settlement as
"fair and just to both governments,
and predicting that it would make
almost important contribution 10 IN
ternational stability"
Mr.. Harding's appeal for action on
the ship bill was prompted, he said,
by suggestions that its opponents
we're seeking to prevent a roll call
on it before the end of the session.
.sMere avoidance by prolonged de-.
hate" he declared, lis a mark OF
impotence on vitality important
nubIic question. I plead for a de-
cision. If there is a favorable ma
iority, the bill should be enacted
If a majority is opposed, defeat will
he decisive. Then. il congress fails
in providing the requested alterna-
tive measure, the executive branch
Of the government may proceed as
hest it can to end the losses IN
Iiouidation and humiliation"
save eOG on Griswold Ware this week
Hdwe. 21559-2-675ts