AMERICAN VIEWPOINT
NOT SENTIMENT, BUT SENSE
BEST SETTLEMENT SHORT OF FORCE. .
(Renter's Telegram.) NEW YORK, 24th March.' "America's war debt settlements with. European nations were the most favourable obtainable short of force," the Secretary of tho Treasury (Mr. A. W. Mellon) declared in an address at the Union League Club. Touching on the moral obligation to assist other peoples to clear away the wreckage of war, lie said, "We do, and we will, carry out this duty. The Administration believes in help and not charity, and its financial policies towards Europe are backed not by sentiment but by sense." Mr. Mellon's address was prepared prior to publication of the remarks of Mr. .Churchill (the British Chancellor) in the House of Commons on Wednesday. Mr. Mellon said that if Europe was to be . re-established on a sound basis it must balance its Budget. Its war debts must be funded, and the American investor must intelligently and profitably invest his surplus capital stock abroad. Referring to criticism of certain debt settlements as being too lenient, he said that he preferred solvent customers with prospects of profitable business in future rather than to force his- customers into bankruptcy.
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Bibliographic details
Evening Post, Volume CXI, Issue 73, 26 March 1926, Page 7
Word Count
195AMERICAN VIEWPOINT Evening Post, Volume CXI, Issue 73, 26 March 1926, Page 7
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