A HOME CRITIC.

Hawke's Bay Tribune, Volume XVI, Issue 86, 27 March 1926, Page 4

A HOME CRITIC.

esterday we quoted an American journalist as being in no way in accord with the United States Secretary of the Treasury in thinking—or, at any rate, saying—that his Government had gone to the utmost limit of leniency in dealing with its wartime European creditors. The dissent of a yet higher American authority, Mf. James W. Gerard —Ambassador to Germany during the war till America “came in”—has since come before us, and he is even moi’e emphatic on the point. He declares that in his country’s war-debt policv the maintenance of the peace of the world at largo and “the continuance of our own prosperity” are to a very large extent involved. Mr. Gerard recrills the fact that the money lent to Europe by America was spent to a very great extent in the United States at high prices and at enormous profits to the sellers, and declares that “the spending of that money gave the first push to the pesent prosperity in America.” He suggests that it would be good policv for the United States to enter the World Court on an equal basis and not as “a grim and hated creditor.” He ridicules the idea that the children and grandchildren of the Allies “are coming to Washington sixty years from now with sacks on gold, the symbols of a conquered people bearing tribute; as shown on the sculptured bas-reliefs of the Pharaohs.” Mr. Gerard, who ontly lately returned from abroad, says: “The States of a united Europe no longer look to the United States. The economic and political map of Europe has changeu, but the psychology of Europe remains the same, and that desire for war and conquest which has never been absent from some part of Europe for more than thirteen years at a time since the birth of Christ may lead to a united Europe looking to the uncle from America, to the rich land of fat dollaj-chasers. for the spoils and ■ plunder of war- We are looked on as ; the Shylocks of the world exacting ! from starving peoples our pound of gold. Do not believe for one moment r that Europe pictures us as a nation lof idealists. Like amiable puppies we B seek the goodwill of all. We have I earned only hatred and envy. We | prate of idealism, of the brotherhood tof man. of the hope of ending for I ever the menace of war, and to a I Europe industrially bleeding we offer ' only advice, which is not wanted, and ? present our bills for money lent.” Mr. Gerard contends that American leniency to her debtors will be reflected in leniency io Germany. Be points out that the British, in the throes of industrial and social readjustments, made a settlement with Washington, and suggests that “it would be sound policy at the present time if America voluntarily reduced the British debt to the best terms given to any nation ”