Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-23
PLANS TO REDUCE
| DEBTS COMPLETED
All National obligations tt
Grow Smaller Under
Hague Agreement.
BY JOHN r. SINCLAIR.
Special Dispatch TO The Star.

STATES, Will grow ugnCer as the years
roll by, because certain amount Of
principal Is paid annually with the in
terest.
Every nation in Europe has settled
her war debt problem with the United
States with the exception of Russia.
That nation, not yet recognized by the
United States, is not able to effect a
settlement Of her debt of $l87, 729, $50.
In the recent debt settlements United
States has waived all claims against
Germany and has left 1t to the allies to
collect from Germany, so they can pay
this country. The United States spent
thirty-five billion dollars in the war.
The allied debt to the United states
billion. with interest added the four
teen nations which have settled have
agreed to pay the United States SAL
542, 1884, 900.
Even though the maximum rate Of
interest is only 3.3 per cent, over a 81
year period 1t mounts pretty fast.
For instance, total interest payments
over this long period will amount TO
$l0,621, 1885, 1893. Now put this amount
on top Of the original debt-the prin-
cipal involved-ard the European coun-
tries to square the debt, will have to
nav more than 500 ,000, 000, 900.
/ Last year the total payments Of prin-
cipal and interest by Americas debtors
were $207, 600, 000-less than one-third
the interest the United States Govern
ment paid on It's national debt. But
next year the allied payments will total
$500, 900 900, or more than half Of the
interest the United States will be pay
ing out.
And so. as the years pass. the yearly
payments will increase to $4l5,O00, 600.
Then all the interest. on the national
debt Of the United States will be
squared by credits received from Euro
pean nations for interest owing the
United States.
It all works out on paper-in theory
on a blue print. Will it in practice?
In the new 64-story Chrysler Build
ing in New York rustleSs iron Is being
used. In the 5-story dome Of the build
ing a rust-resisting alloy will be EN-.
ployed, as well as in the trimmings OF
many of the rooms. All ventilators are
being made Of the alloy.
Some OF the new buildings in Chi
cago have taken to it. In the con-
Meeting bridge adjoining the new Daily
News Building with the Chicago q
Northwestern Railway station this rust
less iron has been used in a striking
way.
Recent developments seem to bear
out the prediction that a r,lstless iron
Is both possible and practical. The
alloys, chrome and iron, combined In
the right way. are markedly resistant to
corrosion and high temperature.
Now II a certain percentage OF nickel
Is added to the chrome-iron compost
ton the rust-resisting qualities are
ThSre are other uses for this allov
It is found in the synthetic nitric acid
industry; on the tops Of large towers
and for the manufacture Of nitric acid
from the air. -.
stainless" steel and "rustless" iron
are already here. Now II We can have
the noiseless and dustless city the
millennium will have arrived.
Tons Of newspapers thrown away
every day in street cars, Office buildings
and subways of the big cities are coll
lected very carefully. Where does this
waste paper go?
The waste paper business has become
q big industry, for waste paper sells
wholesale for about IS a ton.
On the Pacific Coast nearly all the
waste paper is shipped to the Orient.
also large part of the Eastern waste.
The largest amount Of waste paper sold
comes from New York City. The New
York subways carry a notice that each
day their guards pick up from cars and
station platforms at least seven tons of
waste paper.
What does the Orient do with It?
In Hongkong great deal is consumed
to make cheap variety of pith sun
helmets. In Canton many of these
old newspapers are used in the manu-
facture OF fancy goods, such as toys
and dolls.
About one-third of the waste is used
In Canton to make wrappers for salt
peanuts, fruit and roasted pork, which
are shipped In small packages.
Some Of this paper goes to make
| flowers, firecrackers and fireworks. II
/ is also used to make Innings for leather
| trunks and boxes. Re-exported from
Hongkone. lots Of these newspapers
are used in place Of glass covering fol-
window openings.
The money derived from the sale OF
the paper is put to many interesting
uses by Los Angeles. Some is given
to charity. In the schools various
rooms use 1t to buy works of art. And
one high school bought a $4,000 pipe
| organl
Business at the Panama Canal con.
tinues to develop in a very satisfac.
tory way. The Canal Zone, owned by
the United States, is a strip Of land
extending S miles on either side of the
canal, not including the Cities of Pan.
anna and Colon, which have always
been part Of the Republic of Panama.
But the canal itself, under the
American nag, has an area of 554
square miles, including water and land
The United States paid $4,000, 900 fol
the zone and makes an annual pay.
ment to Panama, in addition, Of $3.50.
The canal cost about $3.50 900 900 K
complete. Last year the net income
from tolls, taxes, fees and postal re.
ceipts amounted>to 1924, 600. Tonnag.
passing through the canal has grown
from 1883. 900 tons in 1915 to $780,.
0e0 last year.
This should show an even greater
increase with the present expansion IL
world trade, for the saving in dis.
lance is stupendous. From New Yorl
| to San Francisco. by way Of the Straits
OF Magellan, as in the old days, i
1885 miles-but by way Of the Pan.
anna Canal 5,262 miles. San Francis.
CO to Liverpool by the old route wa,
1902 miles by water-now 1886 miles
Take the Far Eastern countries. sgd.
ney, Australia, has been brought 2,424
miles nearer New York than to Liver
pool
The Panama Canal has not helped
the Middle West, but it has helped the
East and the Far West Of the Upitet
States. as well as Europe, the Far East
and Australasia.
tcopyright, 1929. by North American News