Evening star., 1931-06-22
PRESS FAVORABLE
/. TO DEBTS HOLIDAY
U. S. Newspapers Hail Plan
Proposed by President
as Wise Move.

Editorial comment from leading
daily newspapers OF the Nation on
President HooDer's proposal tor
years. postponement on internG-
tionaI debts follotOS:
Baltimore Sun.
The content of the Presidents plan
for world relief Is not surprising. 1t
has been we'll understood for a long
time that the place to start was in
Washington-with the holding out OF
Q hand to our debtors-and 1t has
taken the President long time to
make up his mind to start. But we
think there will be no disposition now
to criticize After all, he was asked to
reverse the Republican policy Of a full
decade. 1t was bitter dose. The i'm
portant thing is that he has acted be-
fore it is too late.
Philadelphia Public Ledger.
Except for Mr.. Hoovers declarations
that he does not approve in any re-
mote sense of the cancellation of the
debts to us" and that Preparations is
necessarily wholly a European problem
with which we have no relation" his
proposal for one-year suspension OF
all intergovernmental debt payments,
both principal and interest, including
reparations from Germany to the allied
powers, would have had the disturbing
suggestion Of a radical change in Amer
lean policy. Notwithstanding tie PreSi-
dents positive statements, the advo-
Gates of reduction or cancellation of the
from his proposal. which they hope to
turn to account in pushing their propa-
ganda.
"New York Times"
President Hoover's proposal to sus-
pend for one year all intergovernmental
payments, whether reparations or war
debts, was suddenly and unexpectedly
made public. But it could not have
been a headlong, improvisation. He
must have based his action on definite
and diSquieting information from our
representatives abroad and from men
fully acquainted with the thickening
troubles in international finance.
Indeed. 1t may fairly be said that
President Hoover is acting precisely
upon the principle laid down not long
ago by Mr.. Young himself. His words
were as follows:
Economic integration of the world
IS a necessary prerequisite to effective
political cooperation In the world.
America, as the greatest creditor ma
ton, Is more interested than any other
in economic integration. 1t is inevi-
table that from an economic point of
view she take an interest in and be
concerned In the material problems and
affairs of every country on the globe.
Isolation to America, either economic
or political Is impossible"
Mr.. Hoover's recognition Of the truth
Of this stands out all over the state
ment which he issued on Saturday.
People everywhere will take
heart of hope again. They will see
that the United States does not intend
to pass by on the other side those who
have fallen into a great and common
misfortune. We are to cast in our lot
with them. We are to agree with them
that in the world today all nations are
members one of another. This is the
high significance of Mr.. Hoover's prof
fer of sympathy and help. 1t restores
the United States to the position which
it has long seemed resolved to aban-
don-namely. that loyalty to our coun-
try involves loyalty to the great world
society of which we are inseparably
part.
Boston Herald"
President Hoover has mounted those
heights of craftsmanship where mil
lions of Americans placed him in fancy
when they voted for him in 1928
Whatever may be the final result of his
bold proposal to defer war debt pay
ments for year, they look on him this
morning with a feeling that now he