Show Debts and It is not unexpected that Euro Euro- European European nations should inform the United States that they can not make the war debt payments due duc ducI this country in December because I it has been apparent for some sometime sometime sometime time that they either cither can not or orI orwill orwill orwill will not pay I It seems equally certain that the United States will not agree to a cancellation of these debts unless some concessions are arc made either in the reduction of European arm arm- armaments armaments aments or in some a agreements which ma may have a beneficial effect on our foreign trade Leaders of I both political parties are fairly reed agreed upon this policy I made While the plea has long been made that only by a n cancellation of war debts and war reparations can Europe be restored to econ econ- economic econ econ- economic economic stability this plea pica semes somewhat specious in view of the persistence of these na nations na- na nations nations in maintaining huge armies and navies and their failure to agree ree upon a reduction in these expensive armed forces If the European nations will vill not pay there is nothing much that Uncle Sam can do about it Certain ly Certainly we are not going to war for the sake of a few billions of dollars Unless the nations will meet our demands for armament reduction and better trade arrangements we shall proba probably ly let the matter rest resta resta a while longer Even holding this debt over the heads of foreign n governments g may have a potent influence for world peace because a new war would have to be financed somehow and we would hardly lend more money for a new war before the f former one had been paid for by the th na- na na nations responsible for it it |