The Washington times., 1929-06-26
j. S. ENGINEERS
STUDY PLANE
SAFETY
BY GEORGE r. HOLMES
international News Service

European hopes for softer
war debt terms from the
United States-rekindled now
that the reparations contro-
versy has been settled on g
new basis-are doomed to dis
appointment.
Nothing has occurred, either in
the Paris conference or in yestsr.
days, long talk between President
Hoover and j. P. Morgan and owen
D. Young, which calls for any
alteration Of the fixed American
policy with regard to the allied
debts. it was stated officially to.
day,
Report Is Informal
Messrs. Morgan and Young re.
ported Informally to Mr.. Hoover the
intimate details Of the Paris settle
ment, and gave him their opinion Of
the outlook in Europe. The ques-
ton of how large a chunk Of the
German reparation bonds the
American investment market is
going to be called upon to absorb
was touched upon, but nothing ap-
parently was decided.
1t has been brought rather forci-
bly, to Washington's attention, how.
ever, that Germany is now ranged =
alongside the allied nations in thee
incessant pressure-and hoDe-foEs
cancellation or scaling down the
amounts owed the United States.
Germany's only hope of lessening
her own load lies in American debt
cancellation which makes her dI.
rect and interested party to the un.
ceasing propaganda. ~
Stresemann Speech Ignored
The somewhat bitter comment Of
the German foreign minister. DIR.
Gustave Stresemann, that European
nations are colonies and that they
did all the sacrificing at Paris while
"other nations" meaning the United
States, did none, has been noted
here. But administration officials
choose to ignore it. They know that
DIR. Stresemann is facing a difficult
political situation at home In "seTl.
ing" the Young plan to the Reich.
stag.
The temper of Congress on the
matter of collecting the debts has
not changed one iota since the adop-
ton of the Young plan. II there
has been any drifti whatsoever It
has been in the direction opposite to
that which Europe desires. Repub-
licans. Democrats and Insurgents
are united on the debt question.
Indicative of the attitude of the
Senate in the matter was the COM
ment today Of Senator Reed R.) Of
Pennsylvania, who usually speaks for
the Treasury in the Senate.
Reed Speaks Out
''I see no reason" Reed said,
why we should assume the respon.
sibiliry for all the deviltry that Eu-
rope indulged in between 1914 and
1917 just because we entered the
the effect Of placing the burden Of
those debts on the American tax
payer. l have been and still am
vigorously opposed to reduction"
Similar comment came from Sena-
tor Watson of Indiana, the Repub-
lican leader. and Senator Smoot TR.)
of Utah, who was a member of the
Commission that funded the debts.
''I think Mr.. Stresemann was talk
| ing for home consumption. said
Watson, rather than seriously sug.
gesting revision Of the debt settle.
ments / am not in favor of any
| downward revision and neither il
! the American taxpayer"
| The United States was extremely
generous in those settlements" said
Smoot. "and ! see no reason for any
reduction"
| At the same time. there viii be no
opposition, or negligible at least. to
the proposition of granting Ger
MANY q 10 per cent reduction in the
American claim for Rhine occupa-
ton costs. This amounts roughly
| to some $25, 5,000.e0e, But on the
| other debts, Washington Is ada
mant.