The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-05-17
MOrgan'S
Partner, Praises
U. S. Imperialism

WASHINGTON, May 16.-(FP).-
Thomas w. Lamont, member Of Nor
gan & CO., speaking on Americas
Foreign Investments" at the init.
Chamber of Commerce dinner in
Washington, coincident with the
meetings Of the Pan-American Com
mercial Conference and the u. S.
Chamber of Commerce, Landed the
Coolidge administrations action in
Mexico, Nicaragua, Haiti and else
where in Latin-America. At the
same time he warned American bank
ers that their chances for safe and
profitable loans in Europe were
rapidly fading.
The Land Tax.
Mexieo's governmental and railway
debt, Lamont said, was about S725,-
100000, with interest payments since
1921 of $3O,oO0,00O gold. This in
terest payment was only one-fourth
of the sum due on the principal, but
it did represent "an earnest desire on
the part of the Mexican state to full
fill its obligations to its foreign credi-
tors" However, its handling of the
land and oil questions "has had the
effect of discouraging most Of the
British and American oil companies
operating in Mexico, and their oil
production has fallen off heavily
Lamont went on to predict that until
settlement on the oil and land ques-
tions is arrived at with foreign in
vestors, Mexico will probably mot
invite foreign capital to seek outlet
there on any large scale"
Lamont's whitewash Of American
military occupation of Haiti, Nicara-
qua and Santo Domingo was in the
familiar tone Of "We,do these things
solely for their good"
A Permanent Slavery.
After reviewing the financial re-
covery of, many European countries,
and cautioning American investors
against reckless subscription to fur
Their loans there, Lamont touched up
on the favorite topic of international
banlers-the trend toward lowering
tariff walls so that payments may be
made. He said that Certain states
men on the other side, men of
sobriety and judgment, experienced
and sehooled in the world of politics,
declare that Locarno means the per-
manent appeasement of Europe, a
new era; that while there may be oc-
casional ENVIRONMENTS, even sporadic
armed conflicts, there will never
again be any great cataclysm on the
continent Of Europe; that within the
lifetime of our youth war will have
become as outworn as witchcraft,
slavery and due,ling. 1t is true that
Europe is happily becoming more
unified. The movement to break down
the high tariff barriers, built up by
the growth of nationalism in almost
every European country after the
war, is already well under way. 1t is
not inconceivable that Europe may
some day become a great region of
free trade as the United States is
within its own borders.
"Such a development may take
long time in coming; on the other
hand it may move much more swiftly
than we imagine. If it does we shall
be able within a short span of years
to witness a Europe restored, in
dustrious, stable, peaceful, far
stronger in every way than it has
ever been in the past; with arma-
ments vastly reduced, with swords
beaten into plowshares, and with a
future bright with promise.
ut would be we'll for the American
man Of affairs to look forward to pre-
pare himself to do business with
Europe of this sort"