Evening star., 1933-04-30
.B0RAH SKEPT|CAL
OF WORLD PARLEYS
Sees Little Hope of Gaining
Economic Peace With
Other Nations.
BY FREDERIC WILLIAM VILE.

IF we are to have a moratorium on
debts, let us have a moratorium on
armaments."
Such is the ultimatum Senator Will
liam E. Borah, Republican Progressive,
Of Idaho, would send to Europe In reply
to the war debtors plea for revision or
cancellation of their obligations to the
United States. The former chairman
Of the Senate Committee on Foreign
Relations. who was one of the few per-
sons in Washington last week privileged
to hold a private conference with Prime
Minister Ramsay Macdonald, so ex-
pressed himself last night in a radio
address.
Throughout Senator Borah's remarks
ran a note Of pessimism akin to hope
lessness, In reviewing the recent ex-
changes Of international views in Wash
ington between President Roosevelt, the
British prime minister and former
Premier Herriot of France. Il see no
evidence Of any willingness on Europe's
part" Borah declared, actually to dis
arm. to stabilize the currency. or to
do any Of those things in general which
are necessary to economic recovery"
Points to U. S. Distress.
"The first thing to remember when
OioSuoSulS tucSc OcUtS, Sdlu OcIldtol
Borah, lis that they are due the tax
payers of the United States-the tax
payers who are now in great and uni
versal distress. There can be no justi-
flcation in taking from these taxpayers
any part of what is due them, unless it
be in full consideration of something
equally to their benefit. I think the
opening of world markets and the re-
newal Of trade and commerce would be
Of more benefit to our people than the
debts. But the situation as it is now
presented seems to be that the Euro
pean debtors are not prepared actually
to do anything in the way of opening
world markets and restoring trade and
postponement of the debts. which means
ultimately, in all probability, cancella-
ton. The key to every movement of
the debtor nations is to postpone pay
ment of the debts, which is only step
to cancellation or reputation. While
they are leaving out of their budgets
the payment of the debts, they are
keeping in their budgets the usual ex-
penditure for ornaments, and, in some
instances, increasing the amount. If we
are to allow holiday in the payment
of debts, we should have holiday
an actual holiday-in expenditures for
armaments.
Fails to See Concessions.
"The currency question is no differ
ent in my eyes than the disarmament
situation. No spirit Of concession is
visible. 1t is we'll known that Great
Britain has maintained for a long
time what is called an equalization fund,
which fund is used to depreciate the
pound and appreciate the dollar. there
by giving Great Britain material ad-
vantage in the world markets as against
the United States. While the distin-
guished representative Of Great Britain,
Mr.. Macdonald, was our guest, bent
on a mission of reconciliation and re-
adjustment, we are advised that this
equalization fund was vastly increased.
1t also IS reported that part Of this
equalization fund Is to be loaned to
France. This also happened while
Frances representative, M. Herriot. was
in America. likewise bent on a mission
of anlity and reconstruction. Both
these European nations seem to be
going forward in a determined effort
to manipulate the currency so as to
gain a decided advantage over the
United States in trade. Without going
into details, the situation is this: We
are being urged to take from the Ameri-
can taxpayer that which is justly
his while our debtors are spending
.