The Dawson news. (Dawson, Ga.) 1889-current, 1925-01-06


Paw. American Taxpayers Suffer
WASHINGTON, D. C.-The bald
admission by the French minister OF
finance, in his report to parliament
that France regards her $4,OOOOOO0O0
indebtedness to the United States as
political debt" which she does not
expect to pay, created a sensation in
Washington.
Among administration officials who
are directly concerned with funding
operations the announcement was re-
ceived with sort OF panied surprise
and in congressional circles 1t arous-
ed storm of Indignation that before
MANY DAYS will break out OF bounds
and have a full airing on the senate
floor
Elliot Wadsworth, assistant secre-
+arv of the treasury III charge OF for
eign loans. and secretary of the Amer
lean Debt Funding Association, was
summoned to the state department
and conferred with Secretary Hughes,
strengthening the belief that the Unit
ed States intends to vigorously chal-
lenge the French policy.
Franco-American relations, appar-
netly. are due for a series OF jars Tor
on all sides the opinion was expressed
that the American government can
not allow to go unchallenged this VIZ
tual reputation of Frances war debt.
French Budget Makes No
Dafa-A1ce 70 the Debt
WASHINGTON official took notice OF
the fact that the French budget Just
presented makes no reference to the
war debt owed to America. Nor did
any previous years budget since the
war.
About billion dollars was lent to
France after the armistice OF Novem-
Der 1918. And that a half billion was
written off because of the fact that the
French furnished the American army
with certain materials and supplies.
Congress being in session, the
French may expect to hear some
pointed remarks from the members
of the senate and the house because
the whole subject is definitely related
to taxation.
Money Came From the
Pockets of American People.
The money which the French Dor,
rowed, amounting to about three ana
a half billion dollars, came from the
American people who bought Liberty
bonds and now it is up to the treas
urv department in Washington to
raise money to pay off those bonds II
the French do not. The interest,
moreover. must be paid to Liberty
bond holders. Approximately Sl4O,-
100000 a year must be raised to pay
that interest. Such an item IS big
enough, together with the S/S'Uoo,ooU
estimated surplus, to give the Ameri-
can people another Is per cent reduc-
ton in taxes. Apart from the interest
some payments on the principal are
essential. The whole question a aifect9
the taxpayer vitality because II FIdllCe
doesn't pay the treasury aepaI 'llien.
here must pay, which is only another
wav of saving the American peoPle
must be taxed to pay the French DEBT
Officials are careful to say they eE-
pect France to pay her debts, that Oh
6cia11v She has never repudlated them
but they cannot conceal their anxiety
lest American public opinion oeco nnG
;rritated over the turn OF events ana
what will happen if it does.
Some Plain Speaking From
Washington Government.
Before the acuteness of the situation
is realized there will be some pam
speaking from the Washington gov
ernment, and perhaps the American
bankers interested in French securi-
ties will advise their French, friends ii
OF the painful effect the French policy
is having on American opinion.
Slowly but surely the problem OF o.
inter-allied debts, as well as aimed
debts to America, is becoming the
paramount issue.
France is treating England much
the same as she is treating the United
States, namely, ignoring her war
debts.
Live wires and go-getters pile up