The Waterbury Democrat., 1932-02-11
DEBATE ON THE
 WORLD WAR DEBTS
After Intelligent Discus sion Judges Decided for
 Affrmitive at YMCA
BOTH SIDES OF ISSUE

Alfred F. Meyerhans, accountant, won the unanimous decision of three judges in debate at the Central YMCA last night on the question Resolved that the war debts owen to the United States should be cancelled! Attorney The obald E. Conway was presiding off, cer. The judges were Raymond J. Tanning, Fred s. Van Valkenburg, and Edward T. Carmody.
 In his opening speech Meyerhans traced the history of reparations payments including the Dawes plan and the Young plan. He then gave the history of war loans and an explanation of the debt funding process by which England, France, Italy and other nations were en- abled to get substantial reductions from the United States. Among the reasons which he cited for cancella- tion were CD It would correct the present mal-distribution of bold trade balances. CD It would stim- ulate export trade. (3) It would have an enormous psychological effect, as in the case of the de- claring of the moratorium last June. (4) Ia would remedy the un- fairness of the present settlement whereby England has obtained only 19 per cent reduction while France received 52 per cene and Italy 75 per cent. Furthermore, Meyerhans, declared, the cancellation of war debts would not throw real bur- den on the American people; for the entire sum of money which we are due to receive this year is only per cent of our national budget. Also. it is reasonable to assume that the money we loaned to our former allies was out contribution to the holding back of the great German invasion in 1915-16 before we were ready to enter the war.
 Attorney J. Warren Upson spoke og "the forgotten men", stressing the effact on this fellow" who he said was able to own a car, pay his bills and provide some of the com forts of life for his family and was now working under the burden of ever-increasing taxes. Much of the burden of cancellation, he opined, would fall On this man. He pointed out that other nations got addi- tiona1 territories as a result of their part fin the World war while the United States did not ask for spells and did not get them.
 He predicted additional taxes to cover the loss to the government if it's generosity led to the can cellation of debts and noted pay ments already made to the Un1ted States which he said were covered by loans of American bankers to Germany who paid off creditor na- tionsi who in turn paid the United States. Refuting the claim that can-
 ,1I Iyn m porous United States because It would make a more prosperous world, he said it is not logical to assume that the prosperity of this country depends on the prosperity of the world.
 He concluded with the remarks that a considerable portion of the debts now under discussion are borrowings after the var period, and that reductions already granted have wiped out any moral obliga- tion. Furthermore, according 10 Attorney Upson, debt is an obli- gation in the eyes of "the forgotten man" until it is paid.
 At the conclusion of the main speeches, Chairman Conway called for questions from the audience and for minutes both MT Meyer hans and MT Upson were lombard ed with pointed questions. For ex- ample, one man wanted to know why the European nations are al lowed to spend so much money. on armaments and at the same time insist that they cannot pay their just debts He suggested that If the war debts are to be cancelled, the United States is in an excellent po- sition to insist on a radical reduc- ton of expenditures for warfare.
 Secretary Arthur l.. Purinton re- ports that the efforts are being made to secure speakers to debate the question Resolved that the United States should recognize Soy- let Russia. Between three and four hundred men attended last nights debate.