Daily Kennebec journal., 1925-08-19
SEVERAL THINGS TO CONSIDER

ing. In this country it has been ac-
cused Of endeavoring to have the ma
tional government cancel portions of
the foreign war debt, this because OF
Wall Streets investments abroad,
which it wished to secure and others
which it hoped to get. Now some Of
the Belgian papers are declaring that
President Coolidge in his insistence
on the recognition Of these foreign
debts is acting as the. tool of Wall
Street.
Well, probably Wall Street can
stand 1t. 1t has withstood for many
a day all sorts Of accusations, some
Of which had more to chow for basis
than has any of this. Nevertheless,
with 80 much people ought to know
about, and don't, it does seem too
bad to occupy their minds with
vagaries.
The Belgian Government takes oc-
casion to declare that it has given
out no basis for all these conjectures,
that the terms of negotiation are
being held strictly in secret by both
governments. There, however, is no
d0ubt the Belgian Government laid
great stress on the willingness Of
President Wilson to cancel Belgium's
debt to us incurred prior to the Ar
naistice. although it must have been
apparent that the Presidents attitude
and the treaty proposed in con-
formity with it were rejected by our
Government on vote Of the people.
Every intelligent person is aware that
this country is consequently under no
legal obligation. Whatever may be
thought Of moral obligation should
be tempered by consideration of
what that would involve with respect
to the other foreign debtors. Be-
sides. it should be borne in mind
that President Wilson was in no way
authorized to place this country
under either legal or moral obliga-
ton and it belittles the foreign
statesmen to assume they supposed
he was 50 authorized.
Belgium is a little country. While
it suffered much in the war, sacri-
feed much and has had and deserv-
ed the admiration Of the world, it is
not in dire straits at present. AS a
result Of the war it is secured in
vast territory in Africa. Respecting
none of the combatants was there
more general solicitude to bind up
the wounds of war than in the case
Of Belgium. Already she has secured
large loans in this country since the
war. . recent one being for fifty mil
lions. She wants more loans and
this desire is not being overlooked at
this time.
An, observer has expressed the
sentiment that he wished 1t We're
possible for America to say to OUR
foreign debtors, you assure us you
will keep out Of war for third of a
century and We will agree to cancel
goodly portion Of your debt, but no
one has advanced any tangible,
practical method for doing this.
Moreover. to be effective, it would
have to secure the endorsement Of
the people, who really are the ones
that advanced the loans and are
being. taxed because these have not
been repaid. 1t seems probable that
this would be agreed to with re-
spect to Belgium. She Is focused
ia the public mind az long suffering
under the Prussian heel. But 1t
may bs doubted whether this
leniency would be popular respecting
some Of our other debtors, who have
been spending money to exploit
their winnings from the war and
have exhibited little effort to do
away with causes for war. AS it is,
We believe this Government will deal
as leniently with Belgium as it pos
sibly may do without prejudicing
its claims upon other debtors. Mani
fectly there are several things to be
considered.