WAR DEBTS

Southland Times, Issue 19458, 24 January 1925, Page 5

WAR DEBTS

AMERICA’S ATTITUDE. THE OBLIGATIONS OF FRANCE. (By Telegraph—Press Assn.—Copyright.) (Reuter’s Telegrams.) WASHINGTON, January 22. (Received January 24, 1.0 a.m.) Defending America’s attitude on the war debts, Senator Borah told the Senate that the United States was more generous to her war associates than to American taxpayers. Replying to a speech by Deputy Marin in Paris, Senator Borah said it was not justifiable that America should be regarded abroad as a Shylock. The settlement with Britain was the most generous proposition in history, America having written off nearly four billions under the terms of settlement. The British taxpayers pay 6,500,000,000 dollars while the American taxpayers were paying 817,265,000. the difference being represented bv different rates on Liberty Bonds and on the British Loan under settlement. Senator Borah declared that if America settled on the same basis with France, the settlement would be 50 cents to the dollar. A French spokesman had said they must consider all circumstances at a secret conference. Four or five nations had liberally divided the world. “I believe Dr Wilson's efforts at Versailles were towards releasing the grips of these seizures but he was unable to do so,” Senator Borah asserted. He added that the French Chamber debate indicated that the repudiation of the entire, debt was being discussed. Replying to Mr Marin’s statement that all items of war or peace should be balanced, Senator Borah declared that France received £100,000,000, besides vast sums in Reparations. “The United States does not desire to share in the coalfields of the Saar and Al-sace-Lorraine, which are rich beyond words, but comparisons show that the French taxpayers are favoured over the Americans.” He said that the American debt to France during the American revolution was paid in full. Senator Bruce interposed that France made generous gifts at that time. Senator Borah said that France joined in the revolution for her own interests, when it was known America would win. Senator Reed suggested that in balancing, too many omitted the greatest, gain to France, her life as a nation. France had repeatedly admitted that she faced destruction when the American army was thrown into the scale.