OCR Text |
Show I! T I i ROPE OWES, European financiers, Americans ad-vbdnp. ad-vbdnp. are wrestling with the problem prob-lem of payment by Germany to the allies for their losses In tho war. Chancellor Wirtfl of Germany says his country probably will go bankrupt bank-rupt if the claims against her aro urgeel Just now. Somo people believe this. Others do not. However, it is agreed quite generally general-ly that it may be unwise to Insist on immediate payment by a nation which undoubtedly is pinched terribly for money, but may be aide to pay up if given sufficient time. Just as it is un-vlse un-vlse to press un Individual similarly Situated tin Idea being that the money and not the debtor's ruin Is what the creditor wants. ilut France says she cannot wait for Germany unless her own creditors credit-ors wait for her. For this reason many of tho financiers finan-ciers suggest a general moratorium - -that Is, an arrangement by which payment of debts is suspended foi a 1 In length of time. In this instance in-stance five years is the shortest period pe-riod mentioned. Of course tho United States la concerned con-cerned vitally, since she Is France' and the rest of the allies' principal creditor. Undoubtedly she will grant all nec-essary nec-essary time for repayment of the money she loaned during the war, but again It has been made clear that she will not cancel these obligations as some of tbe debtors have more than hinted at- For one thing, tho money Is rightfully right-fully hers. For another thing, she has no Inclination to mako B present of it to powers which could pay It very soon If they reduced their military mili-tary expenditures a thing they show no signs of doing. President Harding reaffirmed this position only a few days ago. |