Evening star., 1925-07-05
By SHELDON S. CLINE.

ONDON: Great Britain is of
the countries where it is necessary to
inquire to the chances that debts
A owed America will be paid. As all the
world knows. Great Britain is paying
her debts to us. 1t probably is true that
through banking loans Great Britain has bor-
rowed from the United States since the
mlstlce about as much as the British govern
ment has paid on account of the war loans.
But that doesn't lessen the Importance of the
fact that payments on account of the war
debts have been undertaken.
1t also is true that the British are not
making payments account of the war debts
without a great deal of growing and grum-
bling about 1t. But l don't think that has
any permanent significance. don't think it
even makes for any serious impairment of
good 1eenng between the two countries. NO
Intelligent EnSlishman with whom l have
talked has made any attempt to conceal the
fact that he is immensely proud that his
country the first to undertake payment
of its external war debts. And, being prac-
ucal sort of person, well versed in the ways
of credit he knows his country already has
derived immense benefits therefrom and he
sees prospect of greater benefits to come
Why EngIishmen Growi.
He growls over the terms of settlement
simply because it is the Englishman's way to
growl at what his government does. Ameri-
cans will understand that. They do not
little growing at their own Government. And
don't lose sight of the fact that Stanley Bald
win the man who conducted the funding ne
gotiations at Washington, is now prime min
lister of England. 1t is not reasonable to
suppose that if there were any widespread
ana Qeep-Seated resentment over the terms OF
settlement the author of that settlement would
now head the British government
Despite the rabid utterances of few no
toriously anti-American journals | do not
believe there is in England any great volume
of informed opinion which holds Uncle Sam
10 be a usurer or even a harsh creditor.
Englishmen, rule, do not seem to think
that the terms of the American settlement
more stringent than England ought to impose
upon its debtors on the continent of Europe. II
there is any soreness at all over the debt
question it is principally because England has
not been able to arrive at satisfactory a
settlement with France and Italy the
United States has arrived at with England.
England would like to do with respect TO her
own debtors in Europe exactly what America
has done with respect to England.
Once for Cancellation.
1t is true that some time ago there
a good deal of sentiment in England for an
al-around cancellation of debts. But
don't get the notion for minute that any
spirit of altruism was responsible for that
sentiment. section of the British people
favored cancellation because they believed,
all things considered cancellation would be
to the benefit of British interests. Ask any
frank Englishman whether, had his country
been in the position America was with re-
spect to debts, he would have favored
all-around cancellation, and he will answer
promptly and emphatically that he would not.
So those earnest and we'll intentioned souls
In the United States who fear Anglo -Ameri-
can friendship has been jeopardized because
the American Government insisted upon it's
just dues dismiss their apprehensions.
No Englishman whose opinions count has any
such notion.
But there is no denying that the debt set
tlement, lenient it was imposes a hardship
on the British government and British in
dustry. But the British do no more than
normally complain of this. They know that
the payment of debts always is hardship,
and they know, too-at least the more inteln-
gent of them do-that the American people
underwent hardships to earn and save the
money they loaned to England They know
something of the sacrifices made in American
homes to pay for the Liberty bonds subscribed
for under the pressure of war necessity and
the compulsion of public opinion. There is
a notion, of course, that all Europeans think
all Americans millionaires. but that Is
scarcely true of the intelligent Englishman.
Hardship to British.
The hardship to the British comes in finding
ways and of meeting the annual
charges account of the principal and in
terest of the debt to America. Not that the
British people are so hard up as surface ap-
pearances might indicate. They good
deal better off today than anybody thought
a year ago It possible they could be.
don't mean to convey the impression that
they are by any means out of the woods, but