INGENIOUS PLAN

Evening Post, Volume CXV, Issue 13, 17 January 1933, Page 8

INGENIOUS PLAN

CHICAGO ATTORNEY

WAR DEBTS AND ARMS

(Received 17th January, 2 p.m.) ' CHICAGO, 16th January. , Mr. Salmon P. Levinson, a Chicag* attorney, who has participated in international .negotiations on war debts, said on Monday that he had evolved a plan to lift the fog of depression and that a country-wide .movement ia behalf of it had been launched. The suggestion is for a universal tour-year armament holiday and a progressive reduction of arms during that period to a ratio of 50 per cent, oi the present status, and at the end of the holiday a settlement of European war debts to the United State* on the basis of a billion and a quarter dollars.

Mr. Levinson said that the plan had the support of Senators Borah, Vandenberg, Lafollette, Glass, and Hastings. It provides for a payment of Europe's five billion debt .in four annual instalments of 312,500,000 dollars each; and savings to the-United. States war'budget of 1,400,000,000 dollars through the four-year, arms holiday, and a saving of 2,400,000,000 dollars for eight years thereafter through the 50 per cent, reduction in armaments, "thus making the total saving in twelve years of the full amount of the present worth of the Allied debts."

Mr. Leyinson proposed that the European nations also reduce their armaments by 50 per cent, by the. end of the four-year holiday. .''."■