Evening star., 1931-06-22
A Year of Grace.

and misapprehension to the contrary
notwithstanding, altruism has not taken
wings from the United States. BY a
stroke of practical statecraft that finds
few parallels in modern history, Prcsi-
dent Hoover has risen TO noble op-
portunity and 6isarmed a world of
Skeptics of their belief that the Ameri-
can people are chemically callous to
the distress Of nations beyond these
shores.
The proposal of the Washington Gov
ernment to postpone Cor one year all
payments on intergovernmental debts,
reparationS and relief debts, both prin-
cipaf and interest,"" is not only the
United States answer to ancient taunts
of American self1shness and indifference,
but-and that, Of course, Is far more
tmportant-is concrete and construc-
tive contribution to world economic re-
covery. Uncle Sam intervened in 1917
to turn the tide Of war. He intrudes
now to divert the currents of peace.
Herbert Hoover has added new luster
to our country's fame as a conscientious
member Of the family of nations.
Viewed in its purely financial aspect,
President Hoover's project. which
happily seems to be assured of the
requisite approval of Congress, is an
avowed attempt to relieve the des-
perate economic plight Of Germany.
The White House, moving with appro-
pirate caution in a situation fraught
with so many grave possibilities, made
certain that the Reich's position is in
reality one that has brought 65,00o,o 900
Germans to the brink Of despair. A
confidential communication to the
White House from President Won Hin
denburg appears. to have been the final
factor in spurring President Hoover
into action.
Germany is required under the
Young plan to pay the allied powers
during the coming year $425, 900
in gold. The allied powers in the
aggregate under debt settlements with
the American Treasury are obligated
to pay the United States Some $24o,-
100000 during the same period. Under
the Hoover proposal, this country
would be making the heaviest sacrifice
during the twelvemonth starting July
1, 1881. France would make the next
heaviest-roundly 100000, ,000-because
the difference between the reparationS
she receives from the Germans and
the principal and interest due from her
to the United States works out at about
that figure. Great Britain, Italy, Bel
gium and other reparation creditors Of
Germany stand to lose little or moth
ing by the plan Mr.. Hoover puts fer
ward. Their assent to it is apparently
in immediate prospect.
France seems to be making reserva-
lions. That circumstance should not be
taken amiss. Almost alone among the
peoples of the world in that globe de-
preston has not hit them approximately
as hard as it has struck others, the
French yet have problems with respect
to Germany that merit consideration
abroad, as well as at Paris. To begin
with, there is the $10o, 100000 deficit in
the French budget which will automati-
cally ensue, If the Hoover program Is
carried out In the second place, France
has to bear in mind-as she 50 as
siduously and invincibly does-the full
effect of a financially galvanized Ger
many at this stage of the European
situation.
Is it to the interest of the French that
they should so soon after Verdun make
sacrifices to restrengthen a chastened
Reich? Her necessities for military and
naval security" being what France
conceives them to be, can she afford, in
q Europe surcharged with fear. Sus-
picion and uncertainty, to spend $780,
900 900 less on ma ,ional defense, colonial
development and the other purposes
which German reparationS for ten years
have been helping to finance? These
are questions causing the Paris govern
ment and public opinion to move slowly
in accepting the Hoover moratorium
proffer. 1t is not for the outside world
to Judge the French too rashly amid
their contemplations on these scores.
President Hoover projects no sheerly
idealistic idea, nor is he reluctant to
concede its direct Importance to the
United States. 1.-THE purpose of this
he says, "is to give the forth
coming year to the economic recovery
of the world and to help free the re-
cuperative forces already in motion in
the United States from retarding influ-
ences from abroad" Therein lies the
doctrine of enlightened self-interest
which is the legitimate handspring of
all national and international policy.
America asks nothing for herself that
she does not believe will accrue stimuli
taneously and automatically to the ben
eft of all other peoples.
It is inconceivable that craftsmanship
in the capitals of the Old World will
fail to follow the lead which is now
given it by the young giant of the New
World. The issue is clear-cut. 1t is
world cooperation or world disaster.
The consequences of a Germany driven
into Communism and the arms of Soviet
Russia could no more be confined to
Eastern and Central Europe than it has
been found possible to dam up economic
depression within the borders Of one or
two countries.
Mr.. Hoover, for manifest reasons,
does not paint such a. picturea on the
wall 4 But 1t is Enthusiastically there,