Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-09-26
FALSE PROPAGANDA HuRTFuL

1t would be unwise as we'll as un-
Kind to demand of France debt
settlement that was beyond her
strength; it would be unkind and in
the long run unwise to make the de-
mand such that if she acceded to 1t
she would assume staggering bur-
den which in the end would cripple
her. So it is eminently desirable 10
learn of her actual ability to pay.
M Caillaux is conceded to be n
nancial wizard and a shrewd bar
gamer He assumes to come to US
prepared to do what is right, but is
he? He cannot be held altogether
responsible for the political propa-
ganda that has been spread among
the French people, that has warped
their judgment, that has put them
in mood such that there is every
likelihood a fair settlement would be
considered unfair. M. Caillaux must
look to those people for support. Any
plan that may be adopted will de-
pend in no small degree on the tenn
per of the people, who are to bear
the burdens under it.
Undoubtedly it would help if the
people of France. who it is but fair
to assume are a reasonable people,
really understood the situation. They
should know and consider that this
money was loaned from the saw
ings of the American taxpayers;
that these have themselves been pay
ing the interest on bonds Americans
bought to help the cause, have been
paying taxes to accumulate the fund
from which the interest is paid, as
France has not paid it; that the peo-
pie Of this country had nothing to
do with starting the war; that had
America not come into it France to-
day would be paying tribute to Ger
many to her utmost franc. France
would not have been permitted by
Germany to disregard her debt for
seven years; the mailed fist would
have wrung 1t from her. The French
people should consider how patient
Americans haye been; how our Gov
eminent borrowed the money at a
higher rate than is asked Of those
to whom it was loaned; must con-
tinue to do that; should consider
that this country is undergoing, too,
the troubles of imitation incident to
war; that if we were paid immed-
lately every dollar of that loan, each |
dollar would be actually worth only
about 63 cents as compared with the
nearly 100 cents of the dollar loaned. /
Today France owes this country |
around four billion dollars, including |
the loans made during the war, war |
supplies bought by France after the
and accrued interest. Of
this she has paid no interest on
loaned from the sale of |
our Liberty bonds, though she has
paid interest on what she owes for |
war supplies. The unpaid interest is
the billion mark.
Surely here has been patience and |
kindly consideration on the part of |
this country. 1t is only recently that /
the foreign debtors have been given |
to understand that the limit was |
about reached, that if they are to |
secure more commercial loans with |
which to finance the territories they |
secured through the war and to |
fight wars with the natives in those |
territories they will have to be mind |
Foreign commercial borrowings this |
year are nearly a billion dollars in |
all. They should have in mind that |
the United States asked nothing from |
the conquered territory very yalu-
able though some of it was; that we |
have been lenient with all the debt |
ors, that we have been generous in |
the terms to which we have acceded. |
Furthermore the French people |
should not only understand these
things, they should know that the |
American people are mindful of the |
heroism Of France, of the terrible |
burden that she has SO bravely |
borne, that in view of these things |
we would be even more generous
with her than we We're with the |
Others They should know they have |
no better friends in the wide world |
than are the American people, none |
VINO have been or will be more kind |
~ disposed or practically helpful. |
Those who have blinded the eyes Of
me people of France to these condi- !
ions have wronged them as we'll as
Us.