The Republican. [volume] (Oakland, Md.) 1877-current, 1926-12-02
OUR INTERNATIONAL MIND

With the commonly accepted view
that the United States will not now
enter the world court, and that we are
farther away than ever from the in
fiuence OF the League OF Nations, a
great many people are rejoicing over
the fact that the danger of our inter
fering with the domestic troubles of
Europe has entirely passed. Nothing
could be further from the truth. It
is true that we are not going into the
League, nor into the Court, for that
matter, unless the European nations
reverse themselves on our reserva-
tions.
But this does not mean that the
danger is over. For so long as the
United States remains the creditor ma
ton and continues to pour billions of
gold into Europe there will always be
demand that Uncle Sam interfere
in European affairs whenever the hol-
| ders of European securities in this
country feel that their interests are
in danger.
If the holders of European securi-
ties were only a few international
bankers on the eastern seaboard, it
might be difficult, though not impos-
sible to move public sentiment. But
this is not the situation New York
has become the money capital of the
world. European nations owe US bill
lions of dollars and they owe this not
only to our government and to our
bankers, but to thousands of investors
IN European securities in all parts of
! the country. 1t is estimated that in
addition to the staggering sum al
ready owed US, approximately anoth-
err billion dollars in gold will be pour
ed into Europe this year by Ameri-
can investors.
AS an Associated Press, report
recently put it: "This golden stream
which once seeped principally from
sources along the Atlantic seaboard
now flows in large volume from the
reservoir of savings in the great Mid
dlewest and Pacific Coast"
We have loaned nearly four billions
in foreign lands during the past three
years and the total of our private
loans to Europe now approYimates
+ap bi11ior Jo11orc Tho ;p+arro+iopo1
! lists who want US to become involved
in European troubles are gleefully
saying that these loans to Europe are
bound to give us an international
mind" in place ofs the old American
mind -own-business" spirit.
An English newspaper recently
commenting on President Coolidge:
speech at Kansas City, consoled it.
self with the statement that before
long we would be in the midst OF
Europeans problems whether we
want to or not, because of our i'm
mense loans to Europe.
Of course these loans may be al
properly secured and doubtless are
from the purely financial standpoint
although of course no one can pre-.
dict what the world situation will be
ten years hence. But the fact re.
mains that the internationalists are
right when they say that our i'm
mense investments in Europe vii
make some Of our people more anc
more interested in Europe and less
interested in America in a fnancia
way. The internationalists through
these loans hope to increase senti
ment for a cancellation of the govern.
ment debts, and for a breaking down
of our tariff system. In short they
hope to do indirectly what they
thought might be accomplished
through the League of Nations anc
an unreserved adherence to the Worlc
Court, two agencies which they now
find are ineffective.