The Republican. [volume] (Oakland, Md.) 1877-current, 1931-10-15

food of propaganda in the United
States and we will be told once again
that Uncle Sam is the worlds great
est Shylock, if he does not cancel
these debt and let Mr.. American Tax
payer foot the bill. We will be in
formed that Europe is about to totter
over the abyss and that only the can
collation. of the debts will save her.
49,
Well, how about it anyhow? Do the
international debts form the one big
obstacle to recovery from the depres-
! sion? There is room for more than
serious doubt on the subject. 1t is
not to be forgotten that England,
France and Italy have collected from
Germany all the money they have
paid on the debts they have discharg-
ed to the United States. And in the
case of France and Italy, these two
nations have collected much more
than enough; France something like
ninety millions more year. So it is
difficult to see where these countries,
have been drained to pay their honest
obligations to Uncle Sam.
$50
Just what is the matter, then, aside
from the general defation following
the World War? The matter has to
do in part with ornaments. In spite
of the terrible sufferings encountered
in the World War, Europe is not yet
satisfied to take the road to peace.
The victorious nations having i'm
posed on the defeated ones a peace
which is burdensome and in some in
stances unjust, are fearful lest the
peace cannot be maintained, and are
arming to the limit, while the de-
feated nations are only waiting for
the opportunity to revise the peace
treaties. Everywhere there is talk of
peace, but nowhere among the former
enemies, any real desire for peace. AS
the Fort Wayne News-Sentinel re-
Gently put it:
"Nearly thirteen years have gone
| by since the armistice was signed.
That should have afforded the wrang-
ling nations of the Old World ample
time to adjust their disputes and to
establish cooperation and mutual con-
fdence. They have had the League,
to which they have invited US to ad-
here as a member. But what have
they done with the League? They
have made the Locarno and Kellogg
BRAND treaties and a network of
pacts one with another, to prevent
war; Yet their aggregate arma-
ment exceeds that of 1914 (the year
in which the World War broke out)
and the war feeling still prevails.
"By their continuance of the pre-
war philosophy as the motivation of
their political behavior, the European
nations have depressed industry and
commerce the world around, and they
have seriously impaired their own
credit. Among the chief advocates of
war debt cancellation just now are
certain prominent bankers. It is fair,
therefore, to stress this point: No
wise banker would grant more time,
much less grant more credit, to an in
dividual debtor who has thus wasted
his substance. And nations are but
groups of individuals"
| Measured with the money which is
spent for armament, the part of the
budget devoted by European nations
to debt payment is small indeed in
comparison. What is needed there
fore, is real arms revision, if this can
be brought about. 1t cannot, Of
course, be brought about until there
is genuine desire for peace in Eu-
rope. The biggest step in this direc-
ton would be an economic and polit-
ical agreement between France and
Germany. Whether this can be brot
about is indeed doubtful, but until
it is brot about, there is little chance
for real peace and real arms reduc-
ton in Europe. A genuine agreement
between France and Germany would
Immediately stabilize the continent,
because it would dominate the CONT
nent for years to come.