Evening Star Newspaper, November 1, 1931, Page 33

EDITORIAL SEG11UN The Sunday Star, IINGTON, D. C. NDAY MORNING, NOVEMBER 1, 1931 LAVAL'S VISIT RELEASES |[° s g : ROOSEVELT STANDS ALONE FLooD oF DEBT DIscUssioN | Manchuria, Asia’s Tinderbox | AMONG PARTY ASPIRANTS Whole Question of Payments Revolves : - Literally Running Solo as Sections All Around Decisions to Collect and Story of the Area’ Which Has Inspired Much of the World’s Political Grief Over Country Prepare to Send Resolutions Not to Pay. - Delegates to Back Him. BY FRANK H. SIMONDS. not true. The Germans Tegard repara- # » : - 5 BY MARK SULLIVAN. HE vilh of 'the Posiash ‘prime | 1008 86 TERUM LEPRIE Y et oo 7 o e, X 2 5 N the Democratic race (though we E v era. regard wa . c ] minister has released another g:;{- as tribute to the United States.| ~ - s . 9 can’t say it'’s & race when there is bids fair to now that Congress soon meet. Pur. y if it were prosperous, at Jeast for | g f s . pioad & question which has almost continu- &. and gnmblhul{ but Europe is| / %Y G, 3} tinues so far id front that he stands q.s; bedeviled international and nn-‘m prosperous, and for Germany and ! & o A » h s : alone. That he runs alone 4s a literall; tional politics alike it is surprising how | Britai { 4 % : ¢ 3 scwirate ststement, - I every soptin o simple. after all, are the basic facts of | trading d 5 b, x . the country, in m-'.cu,e'.uy".’m State, the problem. Ever since the Paris| disarmament is utterly fallacious be- F e % % % : 5 friends of the New York Governor are Peace Conference the world has been | cause no nation will sacrifice self de- 2 & . ~ making plans to send Roosevelt dele- revolving around three fixed decisions. | fense for debt payments and no people ! * & ) i - gates to the Democratic national con- The German people have been at all exrem to pIy War debts anyway. Cs ¥ ; : b vention. Nothing, or practically noth- fimes resolved not o_pay reparations. | cellation mesns, in Buropean eyes, or 2 L 4 {ing, like that fs being dove in behalf The American people have been equally |a return to common sense on the var 3 2 L4 iaf any other candidate. determined not to cancel war detts. |of tke United States. It is a one-sided 4 { L " 'The running that 1% being done by Finslly, the European victors have bzen |afiair. In Europe the American is| ok i 7 . ¢ B jany. one other: ¥oan Booseselt 3 o | Tesolved not to pay their war debts 1o | invariably asked everywhere “When are | v ; 2 ’ slight as to be negligible s us save as they collected from Germany. | your ""’8:;,"’”‘ to wake up to the 3 = : § > N sections of the West and Svut‘hwat : The result has been a ridiculous | fact?" federate money would be| _ ¥ : - rsons who have be ‘ merry-go-round. ‘What hes happened | just as useful as allied war debts in | G % ¢ . Bov VAlalte BN Moen "";‘“" to 18 that the American investors have lent | buying armament reduction now | &L g k 4 4 ¢ A . il o fdly m‘""’ ™ Okla- the money to Germany to the Bu-| We can cancel or not cancel. If we | ‘ y N 5 i b :;p oraon eirac- yopean victors, who have 12"Turn’ pald | refuse to cancel, & whole flock of mora- st ¢ s | \ y J (aiche sEMSY tha fomm of die the same money over to us. In 1":‘ i TR S s o reph- £ b it - "y 4 Governor, hnfl':tnry "l:fee-ngrklr:i&m. Ten ko eriect, e eritan n inyenors | Tations payments whicss $ L \F 3 o moy:'&".%' sort to cause $2,500,000,000 and | American loans. 4 ¥ % P : think of Alfalfa Bill as Hgs: il T that way, is no other. War Cost Billions. dragged into a European war, That war cost us billions directly ; i H g § 1 i i i i i | e L b ! i i : : i 5 and Germar payments were regulated by t.hl:nnuwuphumthenbyt e Young P'Biit the only ever involved has been . Europe sat back and lendi; BEE it ‘?E L f‘a b E 5 it o i i i i gER H ] 1 2 § g k H o I | | ir i I il %égjéfé ] ;§ e §§§ cef g is fig % /. BY COUNT CARLO SFORZA, - | Former Italian Minister of Forelgn Affairs. valthmmmw in 1904 and 1905 that there started the series of follies ht Europe to of de- mfim from 1914 to 1918. It is therefore that i | f i £ g ie o BIERE i : ! i L g i i i i I ty I g Y £ its i 3 i gt of : EE ke gix un- T o4 their country | Will -held securi- ally B it i i i ; ? i i ] g i B -4 - " t in 1929 the American public = I3 securil The \ vas ‘that the source from which | Jiready spent Germany was reparations | lieye y 2l o Sum, however, what counts is that . - 4 3 the moment the | , ‘gozen f ‘effort to collect the o b B e LR othschi hrone 1otters . a n war bts, while use again the lus the billion, Stil f» 2 be oo =4 * 4 . i came anxious. "flm’m’""u“{ff‘ jum, the situation the Hoover moral B st | H "t a, |of Tefusing to cancel @ bad debt. It | Vienna Branch of Family in Difficulty, but Others May Save It From Foundering 5 O | has ly made a : ; 450,000,000 | 1t OWed us because we were cred % them would want to make: unable to pay not merely “n' {ibe | enough to believe that we could collect Tra; nominee 3 on reparations, but also something like | y__ang the end is not yet in sight. loyal to would $300,000,000 which had now piled up | S this the twilight of the oldest and , e - —- e - . 3 O gty oy aaabie t:n;;‘:?"r ff Hel tali: b e SR O And she was s rly uns i i ynasties? The culties of the back $1,000,000000 which was the a"T (;‘ ps I mSh Oesterresche " Credltanistalt of principalof short-term loans. 'S Vienna and the embarrassments o Nevertheless, aithough the American rade, Report Shows |, JYeuns wod em. “Baron Lows von e stil seemed ity resolved ot i Rothschld, head of the Austrian branch cancel, what can SHOME 157 iy wears Italy's | of the Rothschild clan, suggest super- The actual value of the war debts de- | ROME, Italy—In recent TalY's | Qcially that it is. And vet, with these pends either upon the power o collect unfavorable trade balance has fur-|pothSyiide and in these strange times, or upon the interest of the debtor in | nished cause for concern to the Italian one never knows. P, TIee b T win oot oy | Sovernment, beceuss : the - Femitanc:s | Vesterday. news that the Austrian use the United States will not go | J d t . house was out of its depths might have to war to collect the debts of the last | from emigrants abroad ‘and tourist .ocereq the financial world. Today, | war., Germany has no interest in pay- | business had failed to make up for t: when it is almost vulgar to be solvent, ing reparations, quite cbviously. Great | deficit, as they had done during the pre- when giant corporations cut dividends, | Britain will not be able to pay next | ceding years. Signor Mussolini has when currencies are shaken off the gold year, neither will Italy. Prance might. | always expressed a determination that ' standard and when mighty banks which but will not, because the French will | Italy must support itself, and this year have always preserved a haughty in- | hold any attempt to collect from themi | he ruthlessly set about erecting a tariff dependence rush into each other's arms slone, while Germany and the allies barrier which would accomplish that | liks long-lost lovers—today, it is dif- alike get off, would be unfair. It end. The most spectacular measure ferent. Today we can contemplate the | would amount to penalizing the provi- | was the imposition of a 15 per cent ad unfortunate Baron Louis, who cut such dent and rewarding the wasters. valorem duty on virtually all imports a resplendent figure in Vienna, with | had jpsed. They hal ‘The inability of Britain, Italy, all\in September. his banks, palaces, huge estates, art | pull in thelr horns, cut commitments, the debtors save France to pay un- | By some magic Mussolini has also ' treasures, his passion for sport, lavish 3 % wriggle adroitly out of loan contracts, denjable. In that situation the sim- | accomplished the erection of these trade hospitality and profuse philanthropy | I ise 4 hold on. It took them five years to get plest solution will be to extend the | barriers without hurting Italy’s export | With the same philosophical sympathy | St % completely. on their feet again. moratorium. But that will settle noth- | business to any marked extent. This ohe feels when a King dies: “Ah, well, | | 3 . : ing, and meantime all the postponed | is shown clearly by the fact that while so he, t00, was human payments will be piling up, making ' imports dropped 34 per cent from Sep- | However, a Rothschild js not quite the burden of debts PArations | tember, 1930, to September, 1931, ex- the same as the ds. The even more formidable. ports dropped only 3 % Rothschilds, whose indmdualmm:gfi1 Likewise, while imports drop} 0 are far below the greatest indivi | cording! | | To Adjust Ac . | cent Quring the first mime months of fortunes of the New World, as a family | And at the same time budgets will | 1930 and the same period in 1931, obably dispose of more real weaith, in made in all countries &s if WAT | pores suffered by only 18 per cent aggregate, than any other family | debts and Teparations did not (Sxist.| Encouraged by this success, the gov- arth. | on nd_ peoples will become accustomed | 3 3 : ) to_the situation without payments. | 3 Survived Worse Times. 3 paper into ing said, more than Two or m‘m )'flu;d l‘::ce. whenever | Y are = : The present world blizzard ,‘}"&'g?:‘: ; 3 long , | the presidency, the moratorium ex) it wears out, | of 112 will be - one or two of them wonder y are | ¥ 2 Baker's Mind the question will rise again. But 10 | Lrotid x;&‘f}’g‘y":‘ Rty on flew,, Dot going fo get financial frost-bite: 3 > Praised. government could live ih Germany now | Goffee importations will be decreated Dut as & family they have lived through or in the future which undertook Tep- | v a consumers tax. worse times. They have survived 8| arations payments aguin. The rise of : hundred wars and revolutions and all the National-Socialists is a direct con- | the astounding and unexpected changes which have transformed human life .| Huge Loan Arranged 2nd the aspect of the planet since Napaleosi By France for Czechs “Fi*fanily of Jew milionaires, 5o | ich, so powerful, resplendent With rders and titles, whose blood now irri- tes some of the oldest and noblest and land. B & E }s H 1 _nég | i it RS ;sif‘fi!?’ B e fres i i il s REEIEaElAc il | Bgit e gt ] were , | JAMES CROWNED HIS SOCIAL CAREER BY GETTING THE FRENC! SOVEREIGN TO COME TO A HUNTING‘PARTY. for loot, and the prince flad, He sent his sons to the strategic Kc:hzsts of valuables and securities Burops. _Nethan. % i 3& il i HER ‘Eggi i FELEF g £k Ie 3 i k