The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-02-14
PACT or PARIS
Trainer DRAFTS
WAR Debt PLAN
Couples Arms Slash, Holt
day With Four Lump
Sum Payments.
BY WILLIAM PHILIP SIMMS
scripDs-Howard Foreign Editor

scripDs- Howard Foreign Editor
WASHINGTON, Feb. IA
clean sweep Of the war debts in ex-
change for four lump sums from
Europe aggregating s1250,0o0,o00
and an agreement for an arms
holiday and reduction was urged
here today by Salmon o. Levinson,
one of the trainers OF the pact OF
Paris.
HIS plan. which has been laid
before leaders Of both major pOllt-
ical parties on Capitol Hill, stipu-
lates
/. That France pay the first in
stallment of $312,50O0 900 in cash on
Jan. 10, 1884, that is to say, within
the next fiscal year.
2. That Great Britain, on Jan. Is,
1885, similarly pay the second in
stallment- though, if they pre-
ferred, the two countries could pay
one-half jointly for the two years.
3. For the third payment, and to
spell, part Of the proceeds derived
from the S7140O0,000 which Ger
many has agreed to pay to clean up
the reparations slate might be used.
q. That Italy and the other thir-
teen nations pay the fourth-year
installment, having had four years
in which to do 1t.
Train Is on the Track
unless the United States uses
the present opportunity to bring
about a general reduction Of
ornaments and an arms holiday"
Levinson declared, disarmament
appears doomed for at least a gen.
Grafton. 1t likewise means that our
country and the world will go
deeper, instead Of coming out of the
depression. These problems all are
tied together
Our economic train is off the
track. We must get il back on, and
a way is now at hand if we will
only take advantage of it.
IF the nations Of the world will
agree to a holiday in armament
construction until the world re-
covers from the depression, say for
the next four years, our savings will
be enormous. Our own federal
budget would be cut by $350,000000
a year.
If at the same time, the nations
agree to a progressive cut In their
armament, so that at the end Of
the holiday they would be reduced
to 90 per cent Of their present
status, a further big saving would
be realized.
Save Deefnse Upkeep
THE four lump sum payments on
war debts would total 81 250,000000-
BY making an arms holiday an alb
solute condition of debt settlement,
we would save, in the next four
years, Approximately ST ,400,000,000
on new construction. Here is a to-
tai of $2,65OOO0,OOO
If. in addition, the nations
agreed to a progressive pro rata re
duction of ornaments so that by
the end of the holiday they would
be reduced to so per cent, there to
remain until further agreement we
would save on annual defense up
keep some $300000,000 a year, or
So. 400 100000 for the eight years fol-
lowing the holiday The nation, in
me twelve years, therefore, would
effect a total saving of more than
$1,000, 100000, counting in the debt
payments.
THE present worth of Europe
war debts to the United States, on
a basis of per cent interest,
roughly is $5O00,000 900.
Revive World Market
Tariffs. monetary problems and
kindred questions could be settled
afterward. Conditions in the world
are so serious that time is of the
utmost essence. The other questions
are not only seriously controversial
among nations, but decidedly so
within each nation itself.
THE debt reparations disarma-
iment adjustments will not delay in
any way the solution Of the other
crucial problems. Indeed, the mere
announcement that such adjust
ments were on the way would in
stantly revive the markets of the
world and metamorphose public
sentiment"
Levinson is internationally known
as a reorganizer of railroads and big
industries and an authority on ma
tional and international finances.
His study Of world peace was a fore
runner of the Briand-Kellogg pact
outlaWlng war.