The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1932-12-22
What Others Think

The following article was handed this week
and is reprinted because, while it is several months
since it written, it gives graphic picture of the
debt situation which is still acute.
Uncle Sam, The Goat
I confess that l have been NEUTRALITY-SUSPICIOUS.
the word, for other is adequae-at reading SER
les of newspaper articles by Senator Howell of Ne
braska giving facts and figures about the money tina
Europe to Uncle SAM Of we al
know in general way that poor Old uncle has
been easy mark, but until l these fig
did have clear concept Of the extent to which
he has been bamboozled
Perhaps the readers of this column have seen the
articles to which refer. They syndicated and
published far and wide by the Universal Service But
if you have read the facts, let repeat just
few of them, by way of introduction to the questions
"Where do stand, and what shall we do"
Let's commence with the fact that the United
States Treasury reports deficit of billion two
hundred million dollars. That is the figure given by
Senator Howell. But l write see in the
papers that Secretary Mellon has issued treasury
and certificates for billion hundred
million, but for billion, three hundred million dol
lars, to 'bridge over" the deficit What he means
by "brdge over the painful truth is that federal
government has all those millions less than nothing,
and-what comes to the individual citizen
that deficit must be made up by increase in taxes
"How come" this deficit? WE'LL don't let anyone tell
you that it is due to the depression. Everybody is
talking depression, Depression" Just used to
cry "Cest la guerre" the cry "Cest la depres
son But tell the truth, the poor old depression is
being made scapegoat 1t bears the burden of lot
of sins which it committed. Doubtless the de-
preston has something to do with the fact that Uncle
Sam is in the red-so deep in the red that he will new
get out in your time mne-but the depression
doesn't explain ALL
The fact IS that the European countries have TAX
all their financial burdens and unloaded them
on u.s. Consider these few figures. We loaned Europe
during the and since the something thar
twelve thousand million dollars. Where did get
it? We borrowed it. Having borrowed it, of course
pay interest it. We pay the average SOC
million dollars interest year If | remember right
ly that's just the sum demanded of Germany by the
group of devou believers in modern miracles who met
at Versailles when the After year
or two Germany managed to make them see that she
couldn't do the impossible. But we doing tina
impossible" thing Impossible and-it must be con
fessed-apparently foolish. Europe borrowed money
from US. We borrowed the money that they might
borrow from US. Then we borrow money to pay
the interest the money borrowed that they
might borrow from US!
Now take few of the details reported by
Senator Howell. Take Belgium. We ,oaned Belgium
225 million dollars during the and 25s million dol
lars since the war; 4S3 millions in all. In the las
years Ito go further back have paid 14(
million dollars interest on the money borrowed tt
loan to Belgium. In those years Belgium
paid less than 80 million dollars; that is
quarter of the interest, to say nothing of the prin
cipal.
Take Italy We loaned her one billion $40 mil
lion dollars during the war, and 801 millions since the
war; total of than two billions, $50 millions
Of borrowed all that money, too and We
have been paying interest it every year in sever
years the interest has amounted to 624 millions. II
those years Italy has paid less than Al
millions, not onefteenth part of the interest Why
doesn't she pay more? How she when she ha:
expended 245 millions year in armament? Is Italy
at war? MOI Then why the 245 millions on armament
while she pays less than five millions year on ou
interest?
Take England. The total of her debt to us il
four billions, tbs millions. We borrowed that also
and paying interest on it. But in our gener
osity have cancelled the entire principal of tina
debt. We ask only that England shall help us to pay
the interest for the next 62 years. She pays 81 pei
cent. We make up the remainder of the interest ane
have bound ourselves to ask England to pay The
capital debt of four billions, 715 millions!
Take France. She owed us four billions, 231 mil
lions. Uncle Sam cancelled that ALSO You have tt
"hand it to Uncle Sam. He's the biggest-heartee
fellow in The world-and the softest headed Francs
Is paying : cent of the interest on that vas
debt for 62 years. Again we make up the remainde,
of the interest having cancelled the principal Senat
or Howell says that the American people are out Of
pocket, thus far five billions, 260 millions as far al
France is concerned.
BY way of FLIP, he adds the interesting little
facts that when sent supplies to France in the
war; she charged us duty to let them in! And tina,
we paid rent for the trenches in which our soldiers
fought and died in France!
There is more of this, but have not space 70,
it. Perhaps the reader will agree that this is enough
Rev James M. ellis.