Evening star., 1933-09-28
An nth.. Sf,tss .nS C.uada
Member Of the Associated Press.
War Debts Again.

otaCeS yesterday Oh Slr fTeQeflck 1eltn.
Ross and Ambassador Lindsay, Great
Britain signals her intention Of resuming
war debt negotiations at Washington.
Preoccupied with more pressing domes-
tic concerns, both the American Gov
ernment and people have in recent
times paid scant attention to the debts,
despite the tidy sum of eleven billion
dollars-odd which they represent In the
Treasury book.
From London come intimations that
the British expect forthcoming discus
Bions at Washington to end the debt
business once for ALL They are not
thinking Of any agreement for payment
In full. On the contrary, their goal Is
reported to be either reputation of the
whole debt when the next installment
calls due in December, or lump sum
Stoken" payment. Such Q token" pay
ment, unlike the June stipend this year,
would not be an acknowledgment that
another installment was payable and
being liquidated and that further an
nuities would be forthcoming. It would,
on the contrary, be rendered by Great
Britain as a token" of final settle
ment-as evidence on her part that
she considered the entire obligation of
four billion-odd dollars settled and
wiped out for all time. Unofficial init
nations from London hint that the
British "once-for-all" lump sum pay
ment might be as much as a billion
dollars.
As to France, there is no indication
that she has receded an inch from the
position stubbornly maintained ever
since she chose to default on the De-
cember, 1888, tnstallment due at Wash
ington. No token" payments have
been forthcoming from Paris on the
British model. The French insist that
when they agreed at Lausanne to re-
heve Germany Of further reparation
payments they automatically absolved
themselves Of further debt oblibations to
the United States. because Of an alleged
agreement secured by Premier Laval
from President Hoover pledsing can
cellation Of the war debts In return for
Europes remission Of reparations
Frances present attitude Is that she is
responsible for further debt payments
10 the United States only on the ratio
of further reparation receipts from
Germany. -.
Until the British negotiations here,
next month are actually In progress
and definite offer from the London
government lies before them the
American people will be unable to
formulate any definite opinions as to
Its acceptability. As far as known In
advance, the British thesis of last year
Is maintained-that is, that cancella-
tion would be vital factor in restoring
world trade and therefore beneficial to
both the creditor and debtor nations.
Probably whatever sort of q "deal"-
II any-is made at WASHINGTON with
the British, now or later. will serve as
. model for settlement with other debt
ors, particularly II conclusions should
be reached on any lump-sum basis.
Congress remains the final arbiter.
The President will conduct negotiations,
but with House and Senate rests the
nnal decision. That means it rests
with the people and the country, so
that the time is fast approaching when
public opinion will find it necessary to
weigh all the pros and cons Of the debt
situation and determine what is best
In American interests. The United
States is in the position of a banker
sitting at his desk with a group Of
debtors protesting incapacity to go
beyond certain limit in meeting their
obligations. If he is a wise banker, he
approaches the problem open -mindedly
and without prejudice, ignoring the
buried past and facing unf1inchingly
the living present in all its bearings
and implications. That is undoubtedly
the temper in which President Roose-
velt and his advisers will enter impend-
Ing negotiations with our war debtors,
coupled with a sound resolve to weigh
carefully what Is best for the United
States In the long run.