Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-04
VAST BURDEN OF DEBTS
SHOWS NO ONE WON WAR
Glory Dims as Weight of Enormous Cost
Presses Nations, Says
Writer.

drain upon its treasury; and the french
gain of course, does not even remotely
balance the capital losses of the conflict:
Again, while Germany was stripped
of her commercial feet and the ton
mage largely allocated to Britain. the
result was little short of a calamity for
the beneficiary, for Britain was supplied
with a tonnage largely in excess OF the
needs of q world paralyzed by the strug-
gle. Britain has thus had to maintain
q great feet of aging ships, during q
time of low and relatively restricted
freights. Her shipbuilding industry d.
rectly and her iron and steel plants in
directly have suffered from the absence
Of orders for new craft. Finally Ger
many has been forced to rebuild her
fleet and has, as result, acquired a
wholly new commercial armada, built
on the latest models. The fact that
the Bremen has now wreSted the blue
pennant from the Mauritania is sig
nificant indication OF German progress
and, since the Mauritania is Of pre-war
date, of British paralysis.
What is most significant about the
consequences of the World War on the
financial side is the fact that, territory
aside, what was lost by the defeated
has in very small part been gained by
the victorious. On the contrary, Europe
collectively lost the position of primacy,
which it had occupied in the world
financially and commercially.
While the several countries Of that
continent were engaged in a form Of
cooperative suicide, necessity and OPP
portunity impelled the Asiatic and
South American countries, long de-
pendent upon Europe for manufactured
articles. to develop their own factories,
and the United States, both while it
was neutral and in the immediate post
war period when its own productive
capacity remained mistaken, was able
in part to supplant both Britain and
Germany.
European Partnership Possible.
balance the war has resulted in the re-
duction of the number of national
quarrels and racial issues that have
menaced European peace ever since the
American and French Revolutions first
launched the modern principle of ma
tionaliSm and the doctrine we now de-
scribe as self-determination. Yet it is
worthy OF more than passing note that
at the moment when we are about to
observe the fifteenth anniversary of the
outbreak Of the World War, the Foreign
Minister of France, who has been many
times its premier, not only advocates
European partnership, but is met, not
by opposition to the proposal, but rather
by doubt as to the feasibility of what
Is generally perceived to be necessary.
Thus while the World War at last
revealed the unSpeakable horror and
agony OF modern war. not merely for
the soldiers but for civilian populations
as well, the liquidation of the war, all
the period from 1919 to 1929, has with
increasing clarity emphasized the finan-
clal as contrasted with the human
losses. And two generations which had
no part in making or fighting the war
are still to be confronted by the bill,
which will be equally formidable for
the nefrs Of those who won and those
who lost.
Only Debt for Future.
The generation that went to war
with the expressed resolve to achieve a
result that would save their sons from
a similar tragic necessity have accom-
plished little beyond transmitting to
their descendants the bills for this ad-
venture. While the legend of glory in
evitably grows dim with passing years,
the reality Of the tax bill cannot lose
Its vitality for at least 81 years, dur
ing the larger portions of which 1t will
steadily grow in proportions.
The French people have been the
last to surrender to the facts and dis
miss the illusion that the vanQuished
would pay. They have defended the
old thesis with all the obstinacy their
poilus displayed at Verdun and with all
the brilliance their generals revealed
at the Marine. But it has been a losing
battle. The struggle that began with
the invasion of the Ruhr has ended
with the ratification of the debt set
Elements and the acceptance of the
Young plan.
There is then more than passing
significance in the fact that, in the
period which Is years ago saw the out
break of the World War, Europe should
be discussing the Young plan, France
ratifying the debt settlements and a
great public on both sides Of the At
lantic reading "All Quiet on the West
ern Front
(Convrioht 1oooN