Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-24
DEBT CANCELLATION
DECLARED GOAL OF
CHURCHILL'S TALKS
Continued from First Page.)

Lord Rothermere has omitted to in
form the travelling Americans and
likewise his own readers how much
money the city of London and ster.
ling holders generally have made as
q result of Prime Minister Baldwin's
debt settlement with the United
States. AS sterling rose, following
the funding of the debt, financial
Great Britain reaped magnificent
harvest.
Might Not Want Publicity.
1t is scarcely subject one may
conjecture, that Lord Rothermere
would wish to f1aunt before the Brit
ish people, for the vast majority or
them held no sterling to receive the
benefit OF the appreciation flowing
from Mr.. Baldwin's sound financial
policy
There are other gaps in Lord
Rothermere's financial curriculum for
touring Americans. He does not dis.
cuss what might have happened II
Mr. Baldwin had refused to settle
with America. He does not tell Amer
leans or his own readers that in the
circumstances suggested. instead OF
the pound being able at this moment
to look the dollar in the face, Ii might
be hiding it's head somewhat after
the manner of the franc or the Ira.
In a word, Lord Rothermere sup
presses all information of the benefits
accruing to Great Britain because OF
the Baldwin settlement. while qsten-
tationsly exhibiting its disadvantages.
AS stated above, he, like his political
coadjutor. Churchill. seeks TO shame
or bully the United States into can
ceiling the British debt. Both these
two men are too proud to admit that
their nation is carrying, or trying to
carry, load too heavy for even its
broad and patient shoulders.
Do Not Want to Pay.
Britons in general, just as French
men in general, do not want to pay
America They do not look upon
their debts to America as morally
binding. They feel in every fiber that
America did not do her full share in
the war for democracy and that 20
fix upon their children and their clNl.
dren's children the CALLING burden OF
the American debt would be not only
economic folly from every point OF
view. but a monstrous moral and his
torical outrage.
No intelligent student of the situa-
ton can contemplate the future with
any hope of international amity eX-
cept on the theory of final cancella-
ton, not only of the interallied war
debts, but of war debts of every kind
But Churchill and Rothermere, great
ly to the chargin of their sagactous
compatriots, official and unofficial, are
going the wrong way about pressing
their case. They do not realize that
abuse will retard rather than quicken
any American disposition to reopen
the debt question.
That this question, however, must
be reopened no discerning Briton or
American on this side of the Atlantic
has any doubt. America has as
serted triumphantly the principle Of
the sanctity of international obliga-
lions. All her debtors, with Great
Britain leading, have come to her and
said, 1--WE recognize out debt and are
willing to pay as much as we can. !"
When France makes a settlement the
circle will be complete.
New Policy Outlined.
Then, in the best judgment of the
best Judges over here, America may
we'll say: 1T is time to open an entirely
new chapter. We do not want to de-
press the living standard of the world.
we 90 not want TO Cn6Ck the recovery
of the world. We want to hasten the
revival of universal purchasing
power. We want an end of interna-
tional bitterness and the threat of
new wars.
1--WE know our power. We yield
nothing to either dialectic cleverness
or blackguardism. But we are not
FOOLS We cancel the debts in the in
terests of humanity, of which we are
considerable part"
This is the true view as the ablest
observers here see the situation Talk
of a possible European combination
against America IS dismissed as WIS.,
ionary. Frenchmen hate English.
men. The Germans distrust them
and draw even closer to America. If
an orgy of violence broke loose in
France tomorrow, Englishmen would
be slaughtered along with Americans,
and probably before Americans.
Prime Minister Baldwin, when he
settled with America, averted many
possibilities Of danger. If let alone
he will save Anglo-American solidar.
ity, the one sure hope of democracy
Meanwhile. for Americans the words
are serenity, sanity, objectivity.. We
have everything to gain by keeping
cool; everything to lose by becoming,