The Bismarck Tribune Newspaper, July 6, 1931, Page 8

PROPOSED MORATORIUM NOT NEW EXPERIENCE FOR WORLD i ee ii ESET ALS ait . Situations Much the Same as} ¢— Present Have Been Remedied Same Way in Past iy ER (Copyright, 1931, NEA Service, Inc.) Washington, July 6. going through a new experience as it prepares for an international mora- torium, wrestles with the two-headed monster of war debts and war indem- nity. Yet it is not ence after all. such cri war history in profusion ‘The unprecedented phase of the present situation is that which finds a great em of inter-s al Payments based charges against a s affecting the world’s ec t to an extent whe it is believed es- sential to suspend all payments for at least a year. Government economist call the Hoover pror sion,” but it will cont as a moratori moratorium is a gency measure in ments so that deb! postpone payments due for a © period. France Has Used Plan France declared or riums during the war of 1871 the World war governments and some ne! voked them, sometimes fo experi- Just ale dot pre- ts prefer to morato- in order avoid bankru from sudden liquidations sets. there Pposals for moratori gages in some Canadian fF Indemnities and re money, territory war and have long be ognized by al | modern history ussia set style when in her 1870 she dema much as all ot en t 6 ar times ns had di er nat manded after all other wars between | f 1795 and 1871 France excited world admiration by speedily paying off her bil indemnity, then r siag- gering sum. e peace treaty W signed in May, 1871, and the I ment made months ahead of time in| September 1873. The United States under A Jackson came where near W with France over a $5,000,000 ind nity payable to us on account of French destruction of American shipping during the Napoleon wars. After many y ce had finally agreed by tre 31 to pay the money, and we to lower our tariff on French wines. We did our part, but the ench Chamber of Deputies for several sess refused to appropriate indemnity payments. Jackson threatened reprisa: Ww id is »-Prussian j KING LOUIS XVI An Ax Canceled U. S. Debt to Him are heirs of Louis XVI alive and s believed that under our arbi- tion treaty with France they might bring claims for payment. The great modern example of debt repudiation is Russia's whole- le repudiation of nearly $7,000,000,- 000 in private and foreign indebted- ness. The Soviet took the position at the Russian people were not ponsible for debts incurred by the arist reg quent until recent y pectacular defaults a, which about 1890 would have upted the great firm of Baring 's of London with liabilities of $100,000,000 had not the Bank of land stepped in. The most im- portant nation now in default ou bond payments is Mexico, which had a varied record of defaults, negotiations, resumptions and rearrangements since 191 | Why Loans Are Made It may be more or less appropriate to close this article with reference to what our country did about poor pros- |trate Austria. We were one of those ho kicked in with loans to save 1. from chaos after the war and re was about $25,000,000. In- cidentally, just the other day the Bank j of ind again “saved Austria from chaos’ y a quick loan, . in 1922, agreed to postpone until 1941 or 1943 providing |the European lenders did the same, |in these words: eas the economic structure our against | of Austria is approaching collapse and French property, and the Whigs in| great numbers of people are in conse- Congress under Henry Clay repudi- ated him. Ministers were recalled, quence in immediate danger of star- on and threatened by diseases and war threats were heard in both| growing out of extreme privation and countries. The French chamber then | sta tion and whereas this govern- voted the money, to be: paid only| ment wishes to cooperate in relieving when Jackson personally explained or apologized. Britain offered to inter- vene in 1836 and payment was made, although Jackson didn't ap 5 ria from the immediate burden ated by her outstanding debts—” is not in as unhappy @ post-war Austria, But There were few inter-governmental | there was enough similarity to cause debts before the World war. But in the 18th century Great Britain adopt- ed a habit of subsidizing her conti- nental allies, considering it cheaper than sending troops to aid them and maintaining a standing army. During the Revolutionary and Napoleonic wars she handed out 57,000,000 pounds. Some of it was paid for the hired Hessians who came to fight the American colonists. Huge Losses Before Between 1795 and 1816, however, Britain lent about 12,000,000 pounds to Austria. No pressure was brought for interes nd the British rs T the debt amounti 000 pounds, the agreed to pay did, to the accor comment in the B liament Aw time loan of about 9,000,000 pounds to Portugal was canceled by Britain by treaty in 1815. That w ly the entire his- tory of inte nmental war Joans until first United States beg lions to help lick tr Maybe U. This coutry owes an old w XVI advanced nea Colonies between i776 and 1781 which Was not repaid, presumably due to the fact that the king was beheaded. But n and then the out bil- powers. ted 1 theoretically | President Hoover to urge the one- year moratorium and if conditions grow worse in Germany instead of better the inference is obvious. CHAISE LONGUE If you have a comfortable over- | stuffed chair, get an over-stuffed stool the same height, cover both with slip covers and there you have as neat and easy a chase lounge as you'd ,ask for. of the Bugis tribe on the Island are drugged three days | before their marriage to keep them | from looking at any males other than | Stickler Solution ‘ & SS The diagram shows how the ve pieces ae same size can be formed into a perfect square, only one piece having been cut in two. . | SIDE GLANCES - ‘wouldn’t I like to get away from these vacationists for a couple of - By George Clark ! ort Ty 13 A TROUBLED TOM CARR !S SAILING-IN HIS LITTLE BARK= a AS FAR AS THE EYE CAN SCAN~ THE HORIZON | Debt to Him ¢ Canceled) ° aus EVERY THING 1S AGAINST THAT IN THREE DAYS THE FINAL NOTE WILL BE Dug. ye vv VS NOT BIM STEPS IN~ YOM GOES OUT- OF COURSE NOU CAN GET LAUNORN AND LOOK WHAT | GoT FOR Vou, WALT— A BERET. GOT YouRSELF PICKLE OVER HECToR'S RUBY, —_—_—_— TOM DEAR= | CAN'T BEGIN TO TELL YOU HOW MISERABLE 1 rect WHEN | THINK THAT IT Is TO WRECK YOUu= 1 AM RUINED—' E NAS WON SIHE FIGHT= THERE |S NO HOPE = ES SAN, "'D LOOK ANID. LuKS A SISSY IN ONG OF FRECKLES AND HIS FRIENDS YEP..THAT'S ELxuarT!! SEE THAT PART over THERE WHERE THAT BiG GAS TANK IS? THATS ISLAND CITY Where ) THERE'S A RNER MR.CULLER Lives... 4 RUNNING ALL a CANES AROUND THAT SEE THEIR House! WHY THEY CALL IT ISLAND City... LITTLE PaRT | MOM’N POP WOW! AN OLD SECOND- WAND CHAIR! THAT'S HoT! WHAT KIND OF A SHEBA IS { US SOMETHING LIKE THAT Lay i itl WRST THERE WAS GLADYS MAIDEN HANNAH FROM NEW ENGLUND, WITH A DENNY: DINCHING RER WHO SENT THE NEWLYWEDS A MOTH-EATEN, OLD cHaIQ BOOTS AND HER B' (TIE 1) GONNA CATCH THE 14S TRAIN FER PODUNK/ WHO HAS BROUGHT THIS. TERRIBLE MISFORTUNE ON You- IT HAS BEEN ALL MWY FAULT = (T 1S ON ARCOUNT OF ME THAT BENJAMIN GUMP HAS TURNED ON YOU AND USED EVERY INFLUENCE er 58 ce q vy Pron WEALTH IS NOT EVERYTHING— | HAVE BEEN BLING ald } You HAVE STRUGGLED HARD AND ALL THIS TIME = WAVE BEEN VERY SUCCESSFUL BUT HENRIETTA = You ARE ) DOUBT IF YOU HAVE BEEN EXTREMELY rary HAPPY -_ THE GREATEST AND Baty ary a MOST BRILLIANT FORTUNES ARE OFT- FOO! TIMES NOT WORTH THE BITTERNESS 1 VE BEEN- AND THE STRUGGLE {(T TAKES To OBTAIN THEM— FRIENDSHIP AND LOVE ARE THE THINGS YOU HAVE BEEN f j ANT DEPRIVED OF DURING YOUR LIFE = g y | IF THERE WAS ONLY SOMETHING THAT oP nc { VY COULB DO TO NELP YOU ¢ t TOM= 4 1 i AETER THE KNOT | » i 9 — 4 * a I CAN SEE NOW “TWAS THURSDAN UNCLE WALT, SPUD! I'M ‘ MORN WHEN WE . . You'tw WHAT 1S THERE fl GOIN' TO GET 7 4UST LOVE SET SAIL, AND WE, IN ENGLAND BA CRUMPET ap: nglied ‘ON WERE NOT FAR THAT YOU CAN B A siipeemnts: FROM THE LAND BRING Mee CRUMPET# \ 4 b x The Reward! AND Look! THERE'S THE OH YEAN..2 FoREoT bo aaa ea aoa WRONG. GOT THis ewan ) / ABOUT You Gavi THAT eset ee ies Renate NACATION ‘THAT We're TRAIN FROM HAVIN’ A Do THAT AGAIN FoR, pac sahil a A NILLION DIDNT 1 F quarter !! (| ’ ann a x 2 eb EO me. SHE'S JUST LIKE THE CHNIRIIS - SO WHEN MRS. ROACH ATS A PIP, BaBy! ISNT ITA ws A BeauT! You A RELIC. SHE NOULD Give OFFERED ME THIS BRAND / YOU SURE DREAM HERBERT ?} DIDNT RERWY TRADE THAT Sens, NEI, ENAMELED, STOOL PULLED A FAST: ‘oes O° STOOL FOR THIS - eae FOR AUNT HANWAH'S ONE ON HER WINDSOR ! AWUY , THESE OLD WINDSORS| OLD SQUEAKY CHAIR, ARE WORTH $75 OF aNY NEIGHBOR MAN'S MONEY tt ACROSS THE rs 1 , i, MALL, SPOTTED GCs, oe ’ " THE HEITPLOOM 28 ‘ SHE CAME TO "1 THEIR. RESCUE ; , 4} AND GANE A » . THEM A SHINING. WHITE KITCHEN. 4 SToor FoR : MOTES ARE DELIGHTED T Y wits Tei STOOL, F ~~ Qo \ Vessin! Just as! ||/ Hope 1 eT % THe Tauern 4e's FoR— ||DEPOT BEFORE HIS zy Quick, Suz2 ! OPEN Your. MOUTH! YoU FoRGoT TRAIN PULLS OU TONIC AFTER eating! 2 TRAVELING IN” Powe 6 IN RONML. STYLE , THE GUEST OF A REAL HONEST T6OSH PRINCE! Ww cEEMG To’ HER -AS IF A VEL HAS SEEN, LIFTED TIME HAS ROAED BACK CENTURIES «.