REHABILITATION OF EUROPE.

Press, Volume LVII, Issue 17316, 30 November 1921, Page 8

REHABILITATION OF EUROPE.

AMERICAN BACKER'S PROPOSAL. {By Cable—Press ABsoci*taon>—Copyright.) (A.-astraiian and N.Z. Oabl* Association.) (Received November 30th, 12.5 a.m.) . NEW YORK, November 28. i Mr Frank A. Vanderlip, who has returned from an extended investigation of the European economic situation,-in a speech, advocated-that the Allied debt to America ehould be devoted to the rehabilitation of European civilisation, since, upon the latter depended America's realisation of her full destiny: He advocated'that the money shetilß'Ko- -used f oir:-the establishment of educational institutions in the backward countries of the Near East, the establishment of a revolving fund credit to be loaned to European Governments for approved projects for' the general good,) for the development of the European transportation system, the development of hydro-electrio power, particularly in Italy and Austria; the establishment of grain elevators, and the introduction of more scientific methods of agriculture in Eastern Europe. Mr Vanderlip admitted it would be difficult'".'to find use for such funds inr Britain and France. He suggested they might be used to establish great scientific laboratories in England, and also upon the establishment of schools of applied art in Italy. He pointed out that the devotion of the funds to rehabilitation purposes would ensure the ultimate.repayment of the entire debt. He declared that if America, asked for repayment without devoting it to. rehabilitation, she would be compelled to accept goods which would result in the breaking-down of the American tariff wall and tragic competition for American manufacturers. .