The Waterbury Democrat., 1945-03-28

like to become a debtor to another
 foreign country until it Is in a position to stand on equal terms An independent India with it's na-
 tional government enjoying the
 fullest support of its people and
 the goods will of the United Ma.
 tions alone can create the. condi- tions necessary for such financial deal
 Press Seen UnSympathetic
 "The third alternative could be to make some arrangement with the United Kingdom to convert portion of our sterling in UK. into dollars. This could be done by England raising credits in America and placing them at Indias dis posal, thus transferring a portion of her indebtedness from India to America. This is not against the interests of England or of America or of India. Yet, the press in Eng land does not seem to have re- acted sympathetically to this sug- gestion. This is unfortunate.
 Why should England object to such a transaction? England sure ly cannot repudiate her debts to India. Is she desires to discharge her obligations and if the reports are true that England proposes to seek large credits in America for rehabilitation purposes, then she would not be contracting any new debt by such transfers All that happens is that her creditor will now be a rich country like America instead of a poor one-India, If, therefore, America consents to lend to England and England de- sires to borrow in America, then is it unreasonable for India to in- sist that part of these American credits must be shared with India? The need for rehabilitation in India is no less great, on the con trary, it is much greater than the needs of England.
 England will be busy with her own rehabilitation for the next few years. Perhaps, therefore, she will not be in position to spare a large amount of capital goods for India. On the other hand, India's poverty is a disease the treatment of which can brook no further delay. The patient needs urgent help and should get it from wherever possible. Besides, certain spheres have been specialized by America and in those spheres, therefore, India will have to de- pend more on her than on Eng land. India's buying partly in America cannot thus cause any trade rivalry between England and the New World. On the contrary, prosperous India will be a good customer for all
 "Values are changing under the impact of war. Perhaps, in days to come, nations will have to thinl: equally of Asia along with other parts of the world. Perhaps Asia and Australia may play an impor tant part in moulding the future history of the world.
 Can't Be Ignored in Peace
 "It is possible that Australia may In her own interests, decide to drop her exclusively white policy.
 China may become highly in- 
 India intends to let loose her creative forces. She wants to fight against poverty. She has plans but she needs capital goods, technical help and sympathy - which must not be withheld on narrow consid- erations.
 "No Big Three alone can guar antee world peace. Let there be no fistake about that India and China | represent important bricks which | cannot be ignored in any planning | of the worlds peace structure.
 'The economic development of | backward countries is as much a national as it is an international The salvation of the world | lies in this.
 A free and prosperous India | may act as a link to blind the | forces of peace.
 "If this is realized, then all bar