Evening star., 1926-04-02
ENGLAND ASSA|LED
FOR DEBT ATTITUDE
Senator Reed of Pennsy|va-
mia Says Cancellation Is
ChurchiII's Aim.

After a week of intense debate ir
the Senate on the proposed debt set
tlement with Italy. that question was
lald aside temporarily today while the
Senate engages in other matters.
The structures made against tho
United States recently by Winston
Churchill. chancellor of the British
eXcheque in connection with the
Britisf-American debt settlement
brought fiery responses yesterday in
the Senate
Senator Reed, Republican, Pennsyl
! VanIa, referred to the chancellor's ut
terances as winnings" while Chair
man Borah of. the foreign relations
committee turned back the pages OF
recent history to show that the United
States had sought to arrive at ''just
and fair settlements"
AS Great Britain is heralding to
the world that we are sordid peo.
pie, thundered Senator Borah. 'let
the world understand that the wealth
She gathered TO herself at the close
OF the war is not to be compared To
any amount that she could have been
called upon to pay to the United
States under her debt agreement.
| one million. six hundred and
| seven thousand square miles of
| territory passed to the control of
! Great Britain after the war. This
IS worth Infinitely more iu natural
! wealth than any possible sum Great
| brltain could have been called upon
to pay US.
Preparations Were Waived.
When the war ended, the United
states waived all claim to repara.
lions. There was no reason why
| we should not have asked for a Ger
tain portion of reparations.
When it came to a division of the
| territory of the conquered nations.
the representative of the United
| States at Versailles was careful 10
make it clearly understood that the
| United States sought no territory
! And, finally, in making settle
ment with Great Britain, we forgave
that country $4,000, 900 900 OF its debt
figured on the basis of what the
American taxpayer is called upon TO
pay as the difference in interest on
american Liberty Bonds and the
interest on the British settlement.
These matters indicate to me that
from the beginning. the United States
! was trying 10 arrive at a just and
/! fair settlement. There was no at
tempt to do other than to arrive at
| that end"
Declaring that Mr.. Churchills at
tack had been "direct and severe to
! the utmost degree" Senator Borah
said there was purpose and a, plan,
and that was cancellation of the en-
| tire debt.
Tt is true that they still refer
| to it as a revision" he added, out
their arguments are those for can
| collation.
Senate Busy With Figures.
Senator Borah closed third con
| secutive day of debate on the Italian
| debt settlement, during which the
| Senate figured itself dizzy in an effort
to ascertain whether that settlement
cancels the principal.
Amid a swirling array of sums that
ran into the millions and billions
Senator's returned to their 'rithmetic
days and chewed pencils, added, sub
tracted and multiplied until they had
covered scores of sheets of paper.
Senator Reed of Pennsylvau MIA start.
ed it by saying the settlement provides
for the payment by Italy of every
single penny of principal" with in
terest. Senator Smoot, Republican,
Utah, member of the Debt Funding
Commission, agreed with him, but
Senator Howell. Republican, Ne
braska, figured out that the agree
ment not only cancels the principal,
but imposes upon the American peo-
pie an interest deficit of some $25,-
900 900 annually for So years.
When the arithmetic lesson was
over the befogged disputants remain.
ed as firm as ever in their respec
tive positions.