Debt Agreement Pleases Ex-Premier
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^ -- rm> ___------- - - ■ ■ ' ■ " — —■ ■ — — ■" ■
Feeling of
Good Will
Big Issue
\merican Government Flag
Shown Gratifying Spirit of
Concession T o w a r rF Eng
land, Says Lloyd George.
Credit of Britain Saved
By THE RIGHT HONORABLE
DAVID LLOYII GEORGE,
O. M„ M. I*.
(Former British Premier.)
Copyright, l?:3, by United Feature Syn
dicate.
Copyright la Great Britain by London
Chronicle.
Copyright In Auatralasia by Australian
Press Association.
Exclusive world right* held by United
Feature Syndicate.
Reproduction In whol* or In part pro
hibited.
All right* reserved.
Algeclras, (via London.), Feb. 3 — j
As I roll homeward along the coast i
of Spain a wireless message an- I
nounces the British government has ,
^^^sceepted the American debt terms. '
The details which T have received i
are not sufficient to enable me to form
an opinion regarding the character of
ihose terms, but a faction of percent
ages. however important on so large
a debt to overburdened people, Is not
comparable In value to the good un
derstanding between these two great
1 communities on whose cooperation
peace, freedom and international Jus
tice depends.
The American government has not
Insisted upon the stern letter of the
bond, but bas displayed a spirit of
accommodation nnd concession which
is highly gratifying to those who are
anxious to maintain the spirit of
friendship, of good will nnd confi
dence between the two greatest free
communities of the earth.
tieiiuinn KITort.
On the other hand it is clear the
British government has made a gen
uine effort to arrive at an arrange
ment in their decision to take all
necessary steps to repay the debt.
The government represents the real
sentiment of the ntalon as a whole.
The British taxpayer is no doubt fully
nlive to the fact that, this heavy debt
Incurred by him during the war was
in the main In order to finance Amer
ican supplies to our allies. We could
have paid for all the supplies we re
united for our own use without resort,
to any loan from the American gov*
eminent. Nevertheless,^ the money
wac advanced by the (ender on our
credit and our signature.
< m - credit as a nation, therefore, de
toiliid that vve should pay. Whether
us- .an collect enough money from our
.hd'iois to meet this charge he
lnglj doubtful as it 18
i o.ii log more Increasingly needful.
!■ i . :ii is alone in thinking she Is
him. m moral obligation to pay ex
torn ! liabilities incurred for the ef
f ,-tivc prosecution of the war. The
. ititude of the late and present gov
ernment is Identical in this respect.
Ovcrw helming Reasons.
Why has the British public taken a
different view of their national obliga
tions towards external war debts from
that adopted by other allies? In giv
ing the answer 1 do not wish to dwell
on the obvious ethical considerations
which >ou must weigh whenever you
consider whether you'will carry out
an engagement Which you have en
tered into with another who has al
ready performed his part of the en
gagement on the strength of your
promise.
These ought to ho conclusive, but
to urge them might he deemed an un
worthy reflection on the honor of
those who take a different view of
their national duty.
I have no desire to offer censure or
criticism upon their decision. They
no doubt have their reasons for the
course they are adopting. We have
certainly overwhelming reasons for
the policy which the British govern
ment is now pursuing.
The settling up or accounts is si
ways an unpleasant business, es
pecially amongst friends. Strangers
aspect It and prepare for it—and
tbers la no resentment when the bill
arrives. But a man hates reminding
hla friend at the end of business In
which both have been engaged In
warm amity that there is “a little
balance” to be paid up.
Not Uncommon Experience.
He has been expecting hla frlsnd to
mention the matter to him, so he puts
oft introducing the unpleasant topic
from year to year. But the friend
disappoints hla expectations. Not a
hint cornea from that quarter of any
realization that there Is anything due.
It aoon looks as If It had been forgot
ten altogether.
The friend Is most Insistent of col
lecting business accounts due to him
self. He Is nngry at all delays In the
payment of Ills own bills, but bis con
science Is blind on the side of the
debts he himself owes.
It is not an uncommon experience,
nnd we are Buffering from It today.
The war left us a cerditor ration to
the extent of over 2,000,000,000
pounds, and a debtor nation to the
extent of about half that amount. We
readily accepted an Invitation front
our creditor to discuss repayment of
the debt we owe. Our debtors dis
played an Invincible reluctance to en
ter a similar discussion with us.
That ought not to Influence our ac
ttofr. Britain is the greatest of all
International traders, and her credit
rests on the reputation she well
earned—that her bond Is a sacred
trust which her people always honor
end redeem without counting the cost
In toll and treasure.
Panic Seizes Bankers.
I remember when the war broke out
the panic which seized bankers and
brokers as they contemplated the ob
ligations Incurred by British firms,
with their support, to tinance world
r trade. These liabilities ran into a
hundred millions sterling end the only
security for repayment was repre
sented by a bundle of flimsy paper
Musical Club of Washington Uni to Appear Here
The Musical club of Washington university, to appear at tlie Mrandcis theater on college night, February 8, under the auspices of the Oinalia College
club. Is making its 10th annual tour. There are 50 young men in the club selected from a student body of 5,000. In addition to tlio ensemble work there
will be vocal and instrumental solos, a varsity quartet and a stringed trio. The public seat salo opened Thursday.
All Comforts of Home for the Weary
Pilgrim Is Slogan at Tourist Camp
All the comforts of home for the
weary pilgrim.
That's the way the directors of the
Omaha Auto cluh together with Park
Commissioner Hummel expert to
make good Omaha's advertised prom
ise to welcome the stranger.
This picture shows a committee
from the Auto club making a final
inspection of the new tourist com
munity house at Elmwood park. Head
ing from the foreground toward the
building aro -T. B. Hummel. W. B.
Cheek, E. A. Eeppke and G. H. Brew
er. They pronounced the building a
complete success.
Completely Equipped.
Tills community house Is intended
as a resting place for the automo
bile traveler. It will be equipped
with easy chairs, a fireplace, tables
and reading matter. In another
building, similar in style, complete
kitchen and laundry equipment will
be installed. Tt will contain gas
stoves, sinks with hot and cold run
ning water, laundry tubs and lava
tories.
Plans of the tourist park commit
tee of the Auto club call for a camp
which will accommodate at least 150
machines. This camp will be fenced,
the grounds will bo laid out In streets
and lots ample in size for a party
of tourists laid out and numbered.
Wash racks for cars also will he In
stalled and the camp will be policed
day and night.
crisscrossed with the signatures of
men, most of whom no British banker
had ever seen, many of them dwelling
In countries with whom we were actu
ally at war.
There was one signature, however,
nn each paper which was known to
the bankers and carried with it tho
good name of Britain throughout the
world, and It was that of some well
known British firm.
Traders in far distant lands parted
with' their produce on tho credit of
that signature and of tho country
with which it was associated.
It is true that the government had
no responsibility for any of these
transactions, but the honor of Britain
was involved In seeing that foreign
merchants should not suffer ruin be
cause they put their truset in British
commercial Integrity. For that reason
the British government of the day
shouldered the burden and took all the
risk, and although it meant a liabil
ity of between 400,000,000 and 600.
000,000 sterling not a voice was raised
in protest.
Wise Action.
The action then taken, though quite
unprecedented, iru not only honer
abla It was wlae. It eared Brit
ish pride from reproach; it also saved
British credit from a blow from which
It would not recover for a generation.
During that generation this lucrative
business would have passed Into other
hands.
As toon as the war was over the
people of Britain, with an Instinctive
impulse that required no persuasion
to stimulate its activity, set about the
task of restoring war battered credit.
The government, bankers, mer
chants, brokers, manufacturers and
workers of all kinds were of one
mind. Borrowing must come to an
end. Britain must pay her way—
whatever the sacrifices.
Kxpenditure was ruthlessly cut
down. The army and navy were re
duced below prewar dimensions.
Other services were curtailed. Heavy
taxation was imposed—taxation such
as no other country bears. The
budget at home must balance. Debts
to other countries must be paid off
Reaping Reward.
Already large sums have been paid
abroad. It required courage and con
stancy to pursue such a policy, but
the endurance of the nation was be
yond praise. It Is now calmly facing
liquidation of this heavy debt to the
United States. But no party has yet
arisen, or Is likely to arise, to de
mand that ttie hand of the nego
tiators should be arrested. Britain
means to pay the last of her debts
without murmur.
AVe are already reaping some of the
reward. The purchasing value of our
currency already haa risen under Its
burdens snd ns a consequence the
cost of living has fallen steadily
while other countries who pursued a
different policy find the cost of living
for their people ascending month by
month.
A short time ago we were taunted
in the French chamber of deputies
by the president of the council that
our unsound financial policy had been
responsible for our unemployment. It
in true that if we had gone on bor
rowing instead of paying our way—
if we had defied our foreign creditors
instead of paying them—we also, ijke
many other European countries,
might have fostered an artificial pros
perity by means of discredited cur
rency.
But British credit would have rap
idly disappeared beyond recovery and
British trade would soon have fol
lowed. -Meanwhile the cost of living
in Great Britain would have been
j double what it is today.
Hazards No Opinion.
W« therefore dismissed that policy
from our minds without paying It the
tribute of discussion. Trust Is the
only soil In which credit flourishes.
Had that trust been forfeited British
buyers, and consequently British con
sumers, would today hav# been paying
more for their wheat, their meat, their
cotton and their wool.
The burden of repayment to the
United States will be Infinitely less
than that of the Indirect burden
Involved In large purchases with a
discredited currency.
The government Is therefore right
In arranging with the American treas
ury without loss of time for the liqui
dation of a debt Incurred by this coun
try. Why It was Incurred, the cir
cumstances In which It was entered
1 Into, the purposes for which the
i money was advanced arc all matters
I which the American congrefes might
j well consider in arranging the terms
of repayment. That Is however, their
privilege. Ours is to honor our signa
ture.
Protest Sunday Funerals.
Tampa, Fla., Feb. 3.—In a recent
] public address to prominent negroes
! of the city, including preachers and
teachers, I»r. J. It. Harris, city health
officer, deplored the practice of negro
secret societies holding so many fu
nerals on Sundays, it has been the
custom here, Dr. Harris pointed out,
for the lodges and relatives of ne
groes dying during the week to post
pone the funerals until the following
Sunday. This often necessitates a
considerable delay, which is not only
opposed to the rules of public health,
hut also Is a hardslup upon the feel
ings of numerous bereaved relatives,
whose sufferings are prolonged by
[ postponed and elaborate lodge funeral
i ceremonies. The negro ministers
adopted a resolution supporting the
stand of the city health officer.
This fully equipped camp win have
a two fold purpose, according to mem
bers of tho Auto club. In the first
place it will bring automobile travel
ers to Omaha. In tho second place its
tempting lestfulness is expected to
impel those who <lo come vo Omaha
to remain in this rity longer, particu
larly crosscountry tourists making
long drives.
The remarkable success of Denver's
Overland park tourist camp, where
each year thousands of motorists en
joy the hospitality of tho mile high
city, is pointed out by the Auto club
ns an indication of how a city may
gain by a first-class tourist camp. In
(lie new cam]) Omaha will have ono
second to none in tho country in con
venience or facilities and it is be
lieved there will be a tremendous in
crease in the nqmber of tourists who
will stop off for a period in Omaha.
McCormick Sees
Possibilities in
Rubber Industry
Secretary Hoover UrpecI to In
vestigate Production With
View to Kneouraging
American Investments.
Washington, Feb. 3.—Tn a letter ad
dressed to Secretary of Commerce
Hoover. Senator McCormick, republic
an. Illinois, urged that the Depart
ment of Commerce investigate the
possibilities of developing rubber pro
duction in Da tin-American countries
with a view to encouraging American
investments.
Deferring to the possibilit ies for in
creased tnade between the United
States and Soulh American countries
the Illinois senator suggested that
(the Department of Commerce be pro
vided with sufficient funds for an sg
j sressive campaign to promote this
I trade.
“Conditions affecting European
credit and trade today gave thought
ful men concern about our own fu
ture markets," said Senator McCor
: inick. "The great value of volume
: of our exports seem to he amazing,
[considering the diminished buying
power of the populations chiefly af
i fected by the great war.
Precisely as our government has
preached diversification to farmers
and manufacturers, so ought it now'
seek for them a diversification of our
foreign markets. In 1921 a little less
[ than a quarter of our world trade
Was carried on with I.atin-America,
hut nearly half of It with Europe. I
venture to suggest that congress
ought to make available to your de
partment Increased funds which will
permit nn aggressive and intensive
campaign for the Increase of trade
between North and South America.
“I am informed that druing 1921
and 1922, approximately 95 per cent
of our crude rubN-r rupply consisted
of plantation grades produced in the
British and Dutch possessions in the
far east. Since the United States con
sumes between 70 to 75 per cent of
the world's supply of crude rubber,
the significance of this trade Is quite )
evident. Our utler dependence on
these far eastern sources of supply
might become most serious In case of
war.”
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Omaha Leads in
Law Enforcement,
Dempsey Asserts
Reports from Other Cities
Give Omaha First Place
Except in Recovery
of Loot.
Omaha, instead of lagging behind
other cities of Us class in law enforce
ment, a* lias been charged indiscrimi
nately, leads them by a wide margin
in virtually every department of po
lice work, according to Chief of Police
Mike Dempsey, who submitted figures
to prove tys contention.
Chief Dempsey wired to 13 cities
in different parts of the country for'
data on law enforcement, and receiv
cd replies from Minneapolis, Seattle. ]
Oakland. Denver, Providence and
Salt Lake City.
Favorable to Omaha.
Comparison of the data received is
extremely favorable to Omaha, except
In the percentage of stolen property
recovered. Omaha's per cent la 5S.7.
while the other cities range from 39.5
per cent tn the case of Salt larke City,
to 89 per cent, at Oakland. Julius
Stigge, secretary to Chief of Tolies
Dempsey, however, stated that In all
probability the reports from other cit
ies included recovery of stolen auto
mobiles, which is not Included In the
Omaha figure.
The local motor theft bureau has
a record of 95.H per cent recoveries,
a figure greater than that reported
by any other city.
Omaha also leads In traffic con
trol, w ith only 3.4 accidents per 1,000
population. Figures for other cities
are Denver. 4.7; Minneapolis. 5.9; Oak
land. 7; Salt I.ake city. 7.0: Provi
dence, 17, and Seattle, 27.
Facia Distorted.
Omaha police have confiscated 1.1
still for every 3,900 population, as
compared with confiscations ranging
from .19 to .92.
“lVe are willing to let these figures
speak for themselves.'' said Charles
Van Puesen. chief of detectives. "Ag
itators in the laBt few weeks have
distorted facts and created a false !m
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presslon ss to the activities of ths
Omaha police."
He cited the case of a minister who
declared from the pulpit that there
were 29 murders In Omaha last year,
only sta of which had been solved.
The facts are. according to Van t>eu*
sen. that with 29 murders, only sir
had not been solved.
Lumberjack Heavy Eater.
Tron Mountain. Mich., Kob. 3.-*
Charles Smith, a lumberjack, wrbo
towers 3 feet 6 Inches tn height,
won a 3109 bet that he could get
away with two dozen fried eggs and
a 12 Inch slice of ham st ona aitUng.
In the presence of a large gathering
Smith "licked the platter clean” Is
the twinkling of an eye.
After completing the feat Smith
declared lie had not been hungry
enough to tackle a hearty meal when
he sat down, lie offered to wager an
Additional 3200 that he could eat en
other dozen eges. but no takers could
be found.
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%»Omadia.MomttL£&0P-<
THE EVENING BEE
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