Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-09
Debts and Armaments.

The economic revival Of the world, 1t
Is obvious. cannot be accomplished on
anything more than temporary basis
by the poStponement for year Of the
intergovernmental debts and repara-
lions. There must be other steps, as
President Hoover has more than once
warned the nations. The way to re-
adjustment has been pointed by the
Hoover debt suspension plan. Hope,
which was dropping the world over, has
been revived The first step, which Is
sometimes the hardest, has been taken
under the initiative of the American
Government and the leadership OF Mr.
Hoover The world has been promised
o breathing spell, q chance to catch its
second wind. During the period of res
pite it Is necessary that the situation
be examined carefully by all concerned
30 that the whole program OF relief may
be advanced.
President Hoover in his announce
ment that agreement had been reached
between the Government CT the United
States and the government OF France
on debt suspension. assuring the carry
ing out Of the plan. made this COM
ment:
And in this year devoted to economic
upbuilding the world has need for solemn
thought on the causes which have con-
tributed to the depression. l need not
repeat that one of these causes Is the
burdens imposed and the fears aroused
by competitive armament.
In his original proposal OF the debt
suspension plan the President, without
attempting to link disarmament with
the suspension Of the debts, also called
attention to the fact that there was
crying need for limitation OF arma-
ments. the cost of which today in many
countries Is sapping the financial
strength of the people and Of industry.
The amounts expended each year by the
nations involved In the debt suspension
operation for ornaments and to meet
costs of past wars are far In excess OF
the intergoyernmental debts suspended.
These amounts are taken out Of the
people by burdensome taxation. 1t has
been estimated that these war costs are
several times the total of the inter-
governmental debts.
The debt suspension plan is an in
ternational gesture of friendship. II
this spirit of friendship can be trans
lated into something solid-for exam
pie, into q genuine agreement for re-
duction OF ornaments at the interna-
tional conference which is to be held
ut Geneva-the world will be the gamer
many times over. Many American
leaders, in addition to the President,
have pointed the need to a reduction
in the burdens of armament costs. 1t
will be Of little avail If the suspension
or even the scaling down or cancellation
Of intergoyernmental debts is brought
about and the payments for ornaments
are maintained at the present high
figures or increased. Senator William
z. Borah. chairman OF the Foreign Re-
lations Committee, for years an advo-
cate of disarmament, has pointed this
out.
The United States today. although its
ornaments have been cut down further
and further, still must meet a huge ex-
penditure for past and future wars. 1t
has been estimated that of an average
budget of $4,000, O0o, 900 q year this
country spends $4,000, o0o, 900 for past
and present wars. If the same thing
Is true In European nations, and there
is every reason to believe it to re so, 1t
Is not dinhcult to grasp the crushing
effect Of these expenditures upon the
world. 1t is time, as the President has
recommended, to examine into this
question OF ornaments with more seri-
Gus purpose to reduce them than ever
before.