AMERICAN VIEWPOINT

Southland Times, Issue 19170, 14 February 1924, Page 5

AMERICAN VIEWPOINT

A NOTABLE UTTERANCE PRESIDENT COOLIDGE ON THE OUTLOOK THE SPIRIT OF LINCOLN. (By Telegraph—Press Assn.—Copyright). (zkustralian and N.Z. Cable Association.) NEW’ YORK, February 13. (Received February 13, 8.15 p.m.) President Coolidge, in the course of a speech at a celebration of the birth of Abraham Lincoln, said: "Our Government wants peace everywhere. We do not believe in great armaments ; we are especially opposed to competitive armaments. While the present does not appear propitious for a further effort towards limitation, yet, should a European settlement be accomplished, the United States will stand ready to join the other Great Powers whenever there appears a reasonable prospect of reaching an agreement respecting the further limitation of competitive armaments. "The British debt settlement is one of the greatest financial transactions on record It has a world-wide effect on business and confidence. It demonstrates the determination of a great Empire to faithfully discharge its international obligations. It is an exhibition of the highest type of international honour. It shows that a moral standard of the world is going to be maintained. "Since August, 1919, the public debt of the United States has been decreasing and about 4,500,000,000 dollars has been paid off. It is of the utmost importance, in order to be able to meet the approaching foreign competition, to keep business good and prevent depression that we reduce our debt and keep our expenditure as low as possible. "The prospect of a European settlement holds some promise of early achievement. Any settlement doubtless will require European funding of its financial resources, which would be doubtful of success without American participation. The export of such capital which is not required for domestic business and which would increase American foreign business should be encouraged. “We are deeply humiliated at the revelations of such a gross betrayal of trust as has occurred in reference to the oil scandals, but there will be no shirking; there will be an immediate prosecution and the punishment of those guilty. "Lincoln’s moral force is still with us. ‘He that keepeth Israel shall neither slumber nor sleep.’ ”