The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-12
HOOVER Stand
ON WAR DEBTS
MADE CLEARER
President BorroWS Ideas OF
All Smith and Borah to
State Position.
u. S. TRADE is FACTOR
Proposal for Revision That
Would Open Markets
Is Stressed.
BY WILLIAM PHILIP SIMS

WASHINGTON, Aug. 12.-Pluck-
ing one feather from the cap of
Al Smith, and another from the
bonnet of Senator Borah, President
Hoover Thursday night made our
prosperity" the key to his war debts
revision policy.
MY views in opposition to can
collation." he declared, in his noti-
fcation speech, ARE a matter of
detailed record"
But, he added, eff for any par
ticular annual payment we are
offered some other tangible form of
compensation, such as expansion of
markets for American agriculture
and labor, and restoration and
maintenance of our prosperity, then
1 am sure our citizens would con-
slider such proposal"
Recently the American ambassa-
dor in Paris, Walter E. Edge, was
reported as comforting with the
French government on a PROPOSE
ton of this kinda favorable mar
ket in France in return for war
debts concessions from the United
States.
Hopes for Part Payment
At the Jefferson day banquet
here last April, the former Demo-
cratic candidate for the presidency
said there was no use trying ito
get blood out of a stone"
Instead, he proposed that Eve
write off as paid each year Is per
cent of the gross value of Ameri-
can products which they-the debtor
nations-buy from us"
Senator Borah, on the other hand,
is campaigning in the west urging
that the United States swap the
war debts" in return for diSarma-
ment, for a settlement of the ma
jor world war problems which are
paralyzing world trade, and for
markets and prosperity for the
American people.
President Hoover, unlike either
former Governor Smith or the
Senator from Idaho, expressed HIM
self as believing the war debts can
be paid, at least in part. Said he !:
II am hopeful of such drastic re-
duction of world armament as will
save the taxpayers in debtor coun-
tries large part of the cost Of their
payments to us"
No Cheers From Europe
That this part of the PRESIDENT
speech will not sit we'll with Euro
peans, particularly the French and
the British, is fairly certain. 1t long
has been one Of the favorite Euro
pean gibes that America is not in
tereSted in arms reduction because
Of any high moral grounds, but be-
cause of the money it would save.
I'VE have made concrete proposals
at Geneva to reduce ornaments OF
the world by one-third," said the
President. ut would save the tax
payers of the world billion a year
1t would save us more than $780,
100000 year.
1T would reduce fear and danger
of war'-a vitality important con-
sideration, because, he said, nc
major conflict in any part OF the
globe can take place without Seri-
ously affecting us.
In every way, he declared, our
prosperity is tied up with the pros
perity of the rest of mankind. Fol
that reason, 1--WE have joined in the
development of a world economic
conference to bulwark the whole in
ternational fabric Of finance, none
tary values, and expansion of world
commerce"
The President strongly restateo
and emphasized the Importance Of
the world peace policy dealt with by
Secretary of State Henry L. Slim
son Monday night in New York;
speech which brought storm Of
criticism from Toxic.
above all" he said, "I have pro-
jected a new doctrine into interna-
tional affairs, the doctrine that we
do not and never will recognize title
to possession of territory gained in
violation of the peace pacts."
That there again will be echoes
from Japan over this is likely.