The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-02-06
PRESSURE upon
u. s. CREDITORS
ASKED
Cong. Crisp, of Debt Commits
sion, Suggests More
Definite Policy.
BY ROBT. S. THORNBURGH.
International News Service.


Definite pressure upon foreign ma
tons to force payment OF their
debts to the United States may be
exerted soon by the American Debt
Commission.
Congressman Crisp, Of Georgia.
member of the commission, declared
today that he expected to confer
with Secretary Of the Treasury Mel.
Ion to suggest a more definite and
active policy toward the creditors
| of this country.
Funding Of the 100000 debt
by Finland, recently approved by
Congress-, stands as notice to
debtor nations that the United
States expects them to pay" Crisp
| said.
1t will be suggested to Secretary
Mellon. who is chairman Of the debt
commission. that the board be as
sembled and that 1t draft q cour-
teous but firm note to each of the
creditor nations asking that they
| send representatives to the United
| States to arrange for funding of
| debts, according to Crisp.
Relation TO Taxes.
The Georgia representative pointed
out that debt payment has a definite
| relationship to reduction of taxes.
' To-day our taxes are higher than
/ those Of most Of our allies" Crisp
declared. "Our people are being
taxed millions Of dollars to pay in
terest on the bonds sold to raise
money loaned to the allies. When
these loans were made it was dis
tinctly understood that the borrow
ing nations would pay interest
promptly that American taxpayers
might be relieved Of it.
There Is no excuse for debtor
nations longer refusing to fund
their indebtedness. BY this pro-
crastination they are alternating the
sympathy and friendship Of Ameri.
can taxpayers"
Crisp assailed France especially
for the failure to fund her $4,000
100000 debt. Declaring that during
last year France made loans to Po-
land, Jugoslavia and Rumania, to-
falling 800,000,00 francs, Crisp con.
tinued:
Loans by France.
Loans. according to the French
government, were made to Poland
and Jugoslavia for the purpose of
stimulating sympathy for France
in these countries and to Rumania
that she might maintain a well
Equipped army to insure peace in
the east.
IF France is able to make loans
to these nations she is able to make
some payment on her Indebtedness
to United States"
He insisted that the Government
use all honorable economic and
diplomatic methods possible to col.
lect our foreign debt, so that the
people Of the United States may be
relieved Of the tax loads they are
now bearing. That the debtor ma
lions will realize at once the i'm
portance of funding their indie oted.
ness" was the significant hope ex-
pressed by Crisp.
1t was understood to be the at.
titude OF some members Of the debt
commission that no definite action
should be taken by this GoveNn.
ment until the results of the repa.
lrations meetings in Paris and Der.
lin take definite form. France and
other creditors take the stand that
they cannot pay the United States
until they obtain settlements with
Germany.
Crisp protests that United States
ldealt directly with the allies and
that they must settle directly win.
out regard to what they may re.
ceive from Germany.
No foreign debt commission meet.
ings are scheduled in the near fu.
ture, it was learned at the Treas.
ury. The total Indebtedness with
interest Is over $1,000, OOO, 900
Great Britain has funded her 81.
600 900, 900 debt. All creditors have
been offered the same terms as
Great Britain and Finland. e,
amortization Of the loans over six
ty-two years and reduction Of in
terest to a nominal figure.