, 1924-08-14
ADDRESSES LIONS CLUB

ABOIVO OkOU
CONTINUED from Page Nine)
the nations of the earth but that
since that time about three fourths
of that good will had been lost.
Good will is a thing hat is measured
by business men in dollars and cents
on their books. and as existing be-
tween nations its value cannot be
over estimated. It is needful that
this country restore that good will.
DR.. Fisher then went on to say
that the record of the League of
Nations to date showed that it was
a good thing to which to belong. In
the first place, no nation which has
joined the League has withdrawn.
Italy. under the leadership of Mus
solini, threatened to withdraw but
saw the error Of her ways and her
trouble was settled by the League
and the World Court. In the second
place. all the responsible nations of
the world, with the single exception
OF the United States, are in the
League at this time. The United
States, In her policy OF non-partic-
ipation is in company with the ir-
responsible nations of the world, in
Ecluding Germany herself.
The organization of the League re-
sembles more that of a club rather
h a state. 1t has no power to
punish, its decisions being enforced
entirely through the power of public
opinion and in this respect it is sim
liar to the Supreme Court of the
United States, which has no power
to enforce but whose decisions are
obeyed without question.
Already h League has stopped
six wars. which, in their incipiency,
were not important but which held
h seed of a conflict as great, If not
greater than the II not long past.
1t has created the World Court,
which, in its relation to the League
stands as a sort of executive COM
mittee. 1t has given new life to
Austria. 1t has don much in the
suppression of the white slave traf-
fic.
The traditions of this country sup
port our entry into the League. Every
president since Mckinley has favor
ed a world court of some character.
1t has been said that Theodore
Roosevelt did not favor a League Of
Nations cut in his own articles which
any one may read he has shown that
he did. He was the first statesman
to advocate the formation of such
a league, when. in 1910, he won the
Nobel Peace Prize and the last thing
that he wrote. on January 3. 1919,
three days before his death was an
article commencing the League as
1t was then being considered.
Today the world has shrunken.
Modern methods of transportation
and communication have made US
near neighbors Of those countries,
which. a generation ago, were far
away and following this condition
Quarrels are bound to come. This
country has all kinds of interests
In other lands and in order to pro-
tect those interests, we should have
a voice in world affairs. It must
be remembered that membership In
the League carries a veto power. The
majority does not rule but action
on any question must be unanimous,
INT it Is this fact which gives the
lie to the statement that this
try could be outvoted on any Ques-
ton that might come up.
The reasons brough out thus far
are largely selfish reasons. but there
remains a moral obligation which
this country. on its honor. is bound
to fulfill. When America entered
the World War she started something
which she has not finished. The
phrases "A world made safe for De-
mocracy" and "A war to end war"
are but empty mockery II we do
not carry Oh what we undertook In
1917. Europe at this time has about
her neck two mill stones. militarism
. and large debts. by which she is be-
I Ing hopelessly dragged down to ruin.
What she needs is stable money. In
fiation must cease or destruction is
inevitable. DR.. Fisher mentioned
several possible methods OF debt re-
duction but recommended especially
a long moratorium. AS an example
OF what this method nigh accomp-
lish. he went at some length into
a discussion OF what the League has
done In putting Austria on her feet.
Two years ago Austria was bank
rupt. She appealed to the League
for help, was given a twenty year
moratorium. was made 10 practice In
dustry and strict economy and to-
day IL out OF the hole and on her
feet. The League is now doing the
same thing for Hungary and Albania.
The plan followed IL much the same
as the now famous Dawes plan by
which II Is hoped to bring Germany
back to her normal condition. This
IL the hrst . Of light for Europe.
In short the remedy seems to be a
long moratorium. an ad-interim
loan and . designated bank of issue
which alone shall have the author
fty TO Issue paper money. thus pre-
venting any government from enter
Ing into . wild orgy Of initiation.
After DR.. Fisher had finished his
talk several question were asked. In