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Show binding the friendship between the two na.-tkn na.-tkn than all of the peace parleys that could ever be held. ' j The Debt Situation 11 11 1 " i is a- SB, ay THE belief, or rather the faint hope, of European statesmen that the new Cool-idge Cool-idge administration In Washington would aiin open the avenues to debt cancellation was dashed by Senator Reed Smoot, who happened hap-pened to be on the European scene when such outbursts were made. Failing thus, the next step was to start the bait rolling for delaying interest payments Indefinitely and cutting the principal of the sums owed to the United States. . ' . But the Coolidge administration has come out flat footed against entering a world conference con-ference on reparations. Such a conference would simply mean that the United States, with large debts much overdue from every European nation, would sit with these nations and have them agree on how much we should receive, when and how. In other words, it would mean sHting in a poker game when you knew the cards were stacked against you. : President Coolidge has rightly come out - with the declaration that he would adhere strictly to the Harding principle of having nothing to do with an international debt confab. Bankers of this country are willing to loan from a billion to two billion dollars to rehabilitate Europe, but not until the Ruhr entanglement is straightened out and the nations na-tions on the other side of the Atlantic are ready to forget racial hatreds and get down to work. , . '" ' Many close observers of international conditions con-ditions freely declare' that Kthe United States were to cancel war. debts and furnish loans to Europe it would merely be starting a new world conflict- From the perilous condition in the Balkans, the government of France anything but friendly, and Cermmy's population popula-tion of 150,000,000 people merely waiting for the time when.it can avenge itself against France, the United States can well affoid to keep aloof and build up trade and business viith the countries of the world free from 'acial hatreds and out of thi throes of. ireachery. There is much yet left for Americans Amer-icans lo find in the Americas and peaceful tiii ilh Britain's colonies and the orient. .-tifrica's quick offer of aid to Japan in her ;r'atcit uf all disasters will do more towards |