Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1924-09-25
GAS COMPANY CARRIES RATE
CASE TO HIGHEST COURT
DO DEMOCRATS FAVOR
CANCELLATION?

WASHINGTON, Sept. 24-There's
is no more significant feature of the
campaign than the attitude of the
opposing candidates and their plat
forms on the foreign debt to the I'M
tied States" declares the Republican
Publicity Association, through its
President, Hon. Jonathan Bourne, Jr
''The Democratic platform has not
a word to say on the subject, and, so
far as noted, neither of the Demo-
cratic candidates has broken his deep
silence on that issue. They are APP
parently willing that the people
should be lulled into a false sense of
security on that point-into a feel
ing that the agreements consummat-
ed by the Republican Administration
with Great Britain, Finland, and
Hungary will, as matter of course,
be extended to include all the debt
or countries.
Few people realize just how seri-
Gus this matter of the foreign debt
really is. OF the total 'amout, some
81 800, 100000 has been funded, due
to the efforts of the Republican Gov
eminent, and the Treasury is now
receiving regular interest and prin-
cipal payments that relieve our tax
payers of the necessity of paying in
terest and sinking fund on an equal
amount of Liberty Bonds, and that
will completely retire that have total
in about sixty years. But there still
remains in the Treasury the enorm-
Gus balance of which is represented
solely by demand promissory notes.
No interest is being paid on them,
the nation that owe the money have
ignored invitations from the Amer
lean Debt Commission to accept set
Elements similar to that made with
Great Britain. 1t is in securing the
eventual repayment of that huge sum
that the American taxpayers are
now vitality interested.
''The Democratic platform ignor-
es the subject, but devotes pages to
other items that aggregate only a
small fraction of the unpaid debt tot
al and that should command CORES
pondingly less attention from the
people President Coolidge and the
platfrom on which he is running
meet the situation squarely and if
the Republican Administration is
continued in power taxpayers have
assurance that refunding operations
so successfully conducted with three
debtor nation will be extended to in
clude them all.
81 do not favor the cancellation of
this debt" said President Coolidge,
"but | see no objection to adjusting
it in accordance with the principle
adopted for the British debt. Our
country would not wish to assume
the role of an oppressive creditor,
but would maintain the principle that
financial obligations between nations
are likewise obligations which inter-
national faith and honor require
should be discharged
'The Republican Party platform
stands for settlements with all debt
or countries similar to that with
Great Britain. In fulfillment of our
pledge in the National Platform of
1920. it reads, we have steadfastly
refused to consider the mediation
Of foreign debts. Our attitude has
not been that of an oppressive cred
itor seeking immediate return and
ignoring existing financial conditions
Our position has been based on the
conviction that a moral obligation
such as was incurred should not be
disregarded.
Internationalists favor not. only
American entrance into the League
of Nations but also the remission of
a part Of all Of the foreign debt to
the United States.The Democratic
Party and its candidates are accord
ed the support of our international
lists as whole, and the silence of the
platform on the debt question is an
evident bid for that support. Our
voters are confronted with the prac-
teal question. Do they want ST.
200,000,000 of our foreign debt col
lected, as the Republican are now
collecting. S4,60OoO0,00O of it or do
they want to put party in power
that will leave probably all of that
huge sum to be paid by Americans
themselves ?"