Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-06
BACKGROUND OF EVENTS
BY PAUL Y. COLLINS.

One of the wisest bits of advice
given by Lord Chesterfield to his son
was that he should never criticize
whole class of people; he might point
out faults OF individuals but never at
tack O class for the faults of the one
or two.
For example, if we apply Lord
Chesterfield's wisdom, we will not con-
denim the Jews because of Shylock,
for, in addition TO Shylock, there was
ST. Paul, not TO speak of his sacred
Master. We should not find fault with
Americans in general because OF Gen.
Benedict Arnold, for there was Nathan
Hale, besides Washington Ell al. Why
condemn all Frenchmen because Talley-
rand was q bride -taker and Napoleon
a ruthless world conQueror? There was
Lafayette. We might even be unjust
in prejudice against the race of the
Kaiser wilhelm, for there was Won
Steuben, who was more valuable TO the
American Revolutionary Army than
even 2O-year-old Mai. Gen. Lafayette.
So we might be making 9 mistake In
crediUing all the virtues OF benefactor
to the entire race of that noble indi-
Vidual. IL has been quite the fashion
since the entrance of America into the
World War to idealize the race Of La
fayette and credit 1t with romantic
unself1shness, and fall in love with it
because of our ancestors obligations
10 young Lafayette, who got his coun-
Try involved in the war with Great
Britain, the traditional enemy OF
France during the eighteenth century,
as Germany has been in the succeed
ing century.
So we pose i'll great dignity and eX-
claim, Lafayette, we are here"
when we might, with equal historical
accuracy. shout, "Talleyrand! Voiia!'
This dissertation is leading up-or
down-to a present day event, but in
the meanwhile what was the act OF
Talleyrand which takes the taste out OF
the mouth when we shout TO the spirit
OF Lafayette that we have come
across?
We cite first that France helped whip
George III, and even loaned us. in l7i7.
q sum of s1Sl 500. at per cent; In
l778-'82 various sums totaiing s326d,-
900, at per cent; and in 1888 81 ,O6O,-
600 at, not S per cent, but is per cent
interest.
Not one of the histories ever has ac-
cuseo us of talking about any French
''ShylocE" who charged us is per cent
interest because we were In fnanclai
straits and so nominated extortlon IN
the bond. Anyhow, we paid all the DEBT
without whimperine. We paid part
within five years after the peace vii n
Great Britain, and all but S176,O0O by
1875. the balance being funded into AZ
per cent Stock-a mighty safe financial
paper readily sold.
We will give the King his due, for in
the contract of 1882 France remitted
arrears of interest on the preceding
loans up to the date of our peace, to-
gether with commissions and bank
charges on the 1O,000,0 900 livres which
she obtained for US, from Holland.
Our Minister, Franklin, said in trans
hitting the 1882 loan: "In reading the
contract you will discover several fresh
marks of the Kings goodness TO us,
amounting to near two millions" 1livresl
about 1858 ,000 So that 1888 900
measured Frances financial contriol-
ton to the thirteen colonies struggling
to win the joint war against Great
Britain.
King Louis VOLTA! We go you one
better now by discounting not merely
1888, 900, but some four billion dollars
NOT livres nor franCS-dollars. Bill
lions. not millions!
Also. we never took advantage OF
YOUR stress by charging you Is per cent
interest. You charged interest OF course
from the day we signed peace with our
enemy-5 per cent on some three MIL
lion and Is per cent on a million-untll
we paid it all. We began paying FIVE
years after our Revolution, and finished
in 1895, though we were feeble folk,
even then. Today France is the most
prosperous nation in Europe, yet we are
not crowding her for psyment--we offer
Af
burden over three generations in place
of piling it all onto the soldiers OF
yesterday.
In O statement by Secretary Of the
Urea sury Mellon, dated July Is, 1925,
Mr.. Mellon explained the proposed Mel
lon-Berenger agreement (Which even to-
day is still under debate In the French
Parliament and may be rejected. MI.
Mellon said, in part:
For obligations incurred by France
TO America after the war ended France
owes us today 81 1855, 600, 900. The pres
ent value Of the entire French set
Element, at the rate OF interest car
ried in Frances existing obligations, is
81, 68l, 100000.
In effect, therefore, America has
Cancelled the obligations of France for
all advances during the war, and France
in the Mellon Berenger agreement has
undertaken only TO repay the advances
and obligations subsequent to the armi-
stice. No other creditor of France has
accorded such generous treatment"
r X *
Part of that 81 ,665 ,O00, 600 due con-
sists of $400, 000, 900 to pay for actual
merchandise left in France after the
war. and sold to her, what by invoice
amounted TO several billion dollars, al
bargain counter prices, totaling only
$500 1000, 900, which was made due in
10 years, payable next August /. II
will be postponed and made part OF
the annual payments extending over
the next 81 years, provided that set.
Element known as the Mellon erenger
agreement is accepted by France with
out reservations or bubbles before
August /. But IL that be not so &C.
! cepted, France viii either pay the $500,
900 900 August !. or default and so in
lure her world credit and shrink the