Evening star., 1932-12-04
PUBLIC LIBRARY
THE WAR DEBTS.

OOAA14CNtlOAl Will GllC Cllt dLo-
cussions of war debts the reference de-
partment Of the Public Library has
compiled the following list of recent
magazine articles on the subject. Prof.
Moulton's excellent text Is also includ-
| ed as the most comprehensive survey
available at the present time.
SURVEYING THE SITUATION.
War Debts and World Prosperity, by
H. G. Moulton & Leo PaSvolsky.
1882. HTM864.
AN objective, analytical history and
study of the debts problem from its
inception to the Autumn of 1882. Every
conceivable phase Of it, from both the
American and European standpoints,
Is treated in wealth Of detailed facts
and figures. Nobody who wants to be
intelligently posted about the topic of
the hour-war debts-caf afford not to
dig into this p-to-the-minute book"
The Inter-allied Debt: An Analysis,
by M. S. Stewart. Foreign Policy Re-
ports, September 28, 1882, PIP. 172-
1872.
An authoritative, detailed study, with
statistics, of how the debts were con-
tracted, the settlement of the debts, the
present status of government debts
owing to the United States, armament
expenditures compared with war debt
payments to the United States, and
arguments for and against the cancel
lation Of the debts.
Question Of War Debts Arises Again.
American Observer, November %,
1892, PIP. II.
A clear explanation Of the present is
sue which must be met December is,
giving the historical background of how
the debts were incurred, and the effect
Of payment on the nations trade and
gold supply. "The question is whether
the people of this country would suf-
fer more through the loss of the reve-
nue. from abroad or through the loss
| OF trade which comes from the collec-
ton of foreign debts"
Capacity to Pay" by r. w. Fetter.
North American Review, November,
1882, PIP. 411-414.
What does this much abused phrase
really mean?" What about "the prac-
tical man who thought of war debts as
glor1fied farm mortgages. No view can
be called realistic which ignores the
! fundamental distinction between gov
| ernmental debts and private debts and
considers Of no importance the all-im-
portant fact that Europe does not rec
ognize the essential justice of our
claims"
Some war-debt Misconceptions, by M.
S. Stewart. Nation, November 80,
1882, PIP. 524-525.
A discussion Of five statements fire.
quently heard made by people who are
ordinarily well-informed, which the
author considers misleading and er-
roneouS
Trading In Our War Debts, by H. F.
Hollis. Saturday Evening Post, No
vember 5, 1882, PIP. 81.
A former United States Senator looks
, back on the war period, when American
loans were eagerly sought by European
nations, and comes to the conclusion
that I'VE were hopelessly young and
sentimental. measured by European
standards, when we entered the Great
War. We must henceforth look
carefully to our own national ends, COL
lecting what we may and granting such
concessions as We find expedient. =
Let us lock the notes away in our ma
tional chest where the principal will
remain intact and the interest will run
+ on"
ExPEDIENTs FOR RELIEF.
American Stake in the War Debts, by
H. G. Moulton. Yale Review, Sep
tember, 1882, PIP. 1896.
Where does the enlightened self-in-
terest OF the United States now really
lie IN the matter of the inter-allied
debts? We shall have to make a
! choice between collecting debts in the
| interests of the Treasury and remitting
the debts in the interests of trade" An
Illuminating article by an eminent econ
omist.
OF War Debts and Other Menaces, by
J. P. Gavit. Survey, November /,
1882, PIP. 556+.
Brief discussion Of the war debt prob
lem, with summary of the outstand-
ing points in the Brookings Institution
publication, War Debts and World
Prosperity"
Can Europe Pay Us?, by ]. P. Young.
1882, PIP. 327-334.
The factual case against cancella-
ton or revision of war debts-and the
psychological in favor" A considera-
ton OF reparations, the attitude of the
United States that war debts are sep
arate matter from reparations, but
represent business transactions which
Europe can and should pay. war
debts did not cause the depression, nor
would cancellation restore prosperity.
nevertheless, the probabilities are that
some adjustment of the war debts will
eventually be made"
Can We Afford TO Be Paid?, by E. T.
Root. Christian Century, November
80. 1882, PIP. 1466-I479.
The clue to the labyrinth is the fact
that all international payments are ul-
timately made in goods or services. =" .
Loans for destructive ends of war ought
70 be paid. but cannot bel" The United
states Is In strategic position to i'm
pose some conditions in the matter of
settlement Of debts; certainly that no
part OF the amount saved to Europe
should be spent for ornaments.
World Debts and Domestic Defation.
New Republic, November 80, 1882.
PIP. 57-59.
An editorial to the effect that the
wnoie worlds economic activities are
weighed down under a burden of debt
impossible to carry, of which the war
debts are only minor part Readjust-
ment OF prices is the solution offered.
since 1t does not seem to be possible to
innate prices to the point at which the
DEBTS were incurred, deflation of prices
which have not fallen is the alternative.
In the carrying out of such an eco
nOmlc program. the reduction or cap-