Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-09-12
Collecting War Debts From Europe
Declared Unsound Policy for America

and jewels and all forms of movable
wealth. But if YOU take locomotives
for example. your locomotive works
will be idle. while his Will be busy
making new, and his machine Will be
in better shape to compete In the
world market than yours, which mas
become disorganized.
X X 4
But the more you take of wealth
from your defeated antagonist, the
less he has to spend in your products
the more your market is restricted
He makes things for you that your
own workingmen would otherwise
make. He does not get money for
these, so he cannot buy your goods,
but in the swing around the circle
your industries go idle and his con-
tinue. AT the same time. because he
is working for you for nothing he has
to tighten his belt and go without.
He suffers, but you lose.
If we insist upon collecting $500
900 900 q year from Europe annually.
Europe will try to meet the demand,
so long as it is in a paying mood.
by selling us more and buying less
of us. In the long run we shall get
only about so much out of Europe
we may get it in trade or we may
get 1T in payment of war debts. But
even the payment will be temporary
because we cannot make Europe pay
and presently Europe will be able to
repudiate it's obligations, which 1t
holds immoral and usurious. because
1t will not need us any more.
III sum, l favor cancellation be
cause, In the first place, do not share
the prevailing and official view that
there is anything sacred about the
war debts. They were our investment
In a war. an investment which would
have been lost had the war been lost
They are an investment we should not
have had to make and had we beer
ready, as we might have been, to par
ticipate in the war on the military
side when we entered. Finally they
did represent to be sure, our claim 1ol
q share Of the fruits of victory, bu'
we resigned them openly when We
refused reparations. or territory
X x x
Secondly. | believe In cancellation
because. however legal the claim may
be- viewed in the abstract. the enort
TO enforce 1t means the collection OIL
q harvest of hatred which can become
cause for very grave peril 10 tht
limited States and must in any event
no a grave discomfort for two genera
tionS were the contracts to remain III
force that long.
FINALLY. I believe in cancellation De
canse I know that. however mucI
Governments in distress may consent
70 make contracts to get ready money
the neople Of the next generation VII
NOT consent to fulfill them, and tha'
while the period of fulfllmeht con
tin,1es we shall see our trade dlmlh
ish in proportion as payments are
made. Thus, in fact. we ShaH never
collect the debts even while payments
are being made, because what we take
in on account of debts we shall no.
make through trade.
The great debate over depls mas
in NV Judgment, been conducted main
" on n side issue. What is the use
Of debating over the justice or Ih'
American policy when the fact is De
coming transparent that the poilcH
leads to futility? The right may DC
10 times over on our side, Dut tht
LOGIC is against us. We can't collecl
dollars. and all we shall get is hatfed
which generation or two hence ma!
have very evil political consequences
for us. There Is. perhaps. no justice
in making our taxpayers carry all the
burden of war debts, but is this a rea,
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