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Show foliation.') ouch aa thoue outlined. Hit the American C.'onf;rf-SH Is tbe nervatt of the American people when tbfi people peo-ple cliooxe to make It bo. It In conceivable con-ceivable tliat the effoct of an arouar-d public opinion over co-operation wli.7i European nation to restore the biiHl-ueas biiHl-ueas of the world would cauae the members of the new American Con-Krr-aa p,o to express themselves as I warrant the Administration In under-bikini; under-bikini; negotiations subject to later l.ilHicallon by Consegg." j tlici efni'c, tliat ni'I'Otlalloii;) urn beinK cari'leil on In connection with any piMiHlhln IradliiK of tlio portion of thu Allied linlebledneHH ngalnut aj;ree-inenlu aj;ree-inenlu that will lay a better founda-lion founda-lion for proKi'eiiH toward proaporlty In Kiirnpe, posltlvo agreements musl bo made between the Allies and Oer-' many In connection with reparations that can and will bo lived up to. A Loan to Germany "A loan to Germany of Budlclent Hlze to renlore her economic nltua ! tion and enablo her to make progress' toward paying reparations, and which i came ahead of reparations, with 'a stabilized Kuropc, would be absolutely abso-lutely Kood, and If made at the re-quest re-quest and for the benefit of the Kuropean Allied countries, It could undoubtedly be placed In America. "The constant friction which has existed between Germany and the Allies because of the reparatlonsj would be eliminated. Confidence i would be restored to the peoples of Kurope, whoso badly shaken morale Is probably the greatest obstacle In tbe way of accomplishment of those chinas necessary for stability. "No force exists in the American Government, which, would permit ne- j a reaVplan" f00 would help . Fred I. Kent cf American Bankers Association Initiates Move to Grapple With Problem. SUGGESTS TERMS OF U. S. AID I Proposes European Economic Agreements Agree-ments Better World BusineE8 for America in Return for Credits and Partial Debt Cancellation. i ! Agreements by Europe to make, In . exchange for American fnrancial help, ; economic reforms that will Insure i prolitable International business for I the rnited States, is the basis of a ; plan for world rehabilitation worked : out by Frel I. Kent, chairman of the ; Commerce and Marine Commission of ! the American Bankers Association, i Mr. Kent, as a delepate of the assocla-j assocla-j tion, recently laid this plan before the : meeting of the International Chamber i of Commerce at Rome. He pointed I out that the United States has no right to attempt to dictate to Europe, j but that "when It comes to loaning , our money we have a right to demand satisfactory agreements before we do ! so." He continued,: How America Can Come In "As America has not the right to j demand that the budgets of European countries be brought into order, that ; inflation be stopped, and that mutual j undertsandings between the Allies and Germany be developed, these matters can be approached only on the basis of what America has that she can give to Europe in exchange for agreements which she believes, if carried out, would result in increasing the trade and commerce of the United States in sufficient volume to Justify such action. ac-tion. "From the standpoint of America the two questions of primary importance impor-tance are, what 1 xation will be neces; sary to meet the requirements of our government, and, second, what income will be left to the American people after the payment of taxes. If the Allied debts are paid in full the people peo-ple of the United States will not have to meet Liberty bonds outstanding against them through taxation. If the , buying power of Europe is not restored i the total national income of the peo-! peo-! pie of the United States will be less j than otherwise. If a portion of the j Allied debts can be cancelled in ex-I ex-I change for agreements which will j promptly place European countries on a sound economic basis, the restoration restora-tion of the buying power of Europe will be greatly accelerated, and the total national income of America will be increased." An improvement in foreign markets for American products is an essential element in Mr. Kent's plan. He says: "If, after deducting taxes necessary to cover the portion of the Allied debts cancelled, the increase in the total national income of America is greater because of the greater buying power of Europe brought about by means of such cancellation, the people of the United States would be the richer. There would seem no doubt but that everyone would vote for cancellation If it would assure greater national net j income, with economic peace and greater happiness for all peoples. "The real question, therefore, is whether t would be possible to co-! co-! cerate with European governments along such lines that, in exchange for cancellation of a portion of the Allied I indebtedness to the United States, i they will give agreements aiming to j correct those things in their countries coun-tries at present econamlcally unsound. It Is not conceivable how mere can-j can-j cellation could be anything but harm-I harm-I ful, unless accompanied by economic j readjustment all along the line, j "Further, agreements along the lines mentioned could not be made effective unless the whole reparations tansrle is settled. At. the samejme. I 1. Ml III Will I III |