OCR Text |
Show Cancellation of Debts The general impression is that the position of the United States. Government regarding war debts ami reparations has not varied since the statement was made by president Hoover last year to the effect that he was opposed to the cancellation of war debts but feels that the question must be viewed in the capacity of a debtor to pay. According to the Lausanne agree ment, Germany's final reparations payment was established at $750,-000,000, $750,-000,000, quite a reduction from .the original amount of $64,000,-000.000. $64,000,-000.000. But this agreement is conditioned on the expectation that the United Staes will be equally generous in the reduction or cancellation of war debts. Most people consider that the matter of reparations, is distinctly a result of the war that involved so many of the nations, while they do not believe that the "war debts" so-called can be thus classified. class-ified. It will be remembered that a large portion of these debts was for moneys advanced and supplies furnished since the war to some of the debtor governments. It must not be forgotten that when the debt settlements were arranged arrang-ed the United States scaled down the amount of the debts very perceptibly. per-ceptibly. As it now stands, it appears that the next move has been put up to the United States, thus placing plac-ing the responsibility on this Government Gov-ernment for the hoped-for settlement settle-ment of the reparations. It seems to be a question of how far the United States is prepared to go in revising European war debts, in view of European revision of reparations. re-parations. If the Congress of the United States does not recede from the position it has adopted, then there is very little possibility of this Government revising the European war debts in accordance with what it is apparent the European Eur-opean nations desire. 3ut while this agreement was being decided upon at Lausanne, the same great world powers were conferring at Geneva in regard to disarmament, but with no generous gener-ous impulse displayed to accede to President Hoover's proposal that all nations cut their armaments by one-third. Many people think that inasmuch as the majority of the nations are advocating peace, why do they not agree to such a rut in armaments and apply the moneys that would be expended therefor cn the reduction of their war debts. Senator J. Hamilton Lewis of Illinois urged that the United States decline all future invitations invita-tions to disarmament conferences and charged that the most recent one had failed because European nations wished it to fail. "It is nlain," he said, "that war is con-emplated con-emplated between certain of tha nations whose delegates were assembled, as-sembled, that each knows the assumed as-sumed cause of the approaching conflict; and each is contemplating 3nd preparing for this conflict. The real object is .that through "he results now disclosed at Geneva Gen-eva to lpave the United States in the position where It cannot offer mediation as an agent recotmiised at Geneva, and where it will be compelled to refrain from any action ac-tion of intervention on the ground that it is a neutral nation, as it is neither a member of the League of Nations nor now recognized at Geneva as a delegate either of influence or authority." |