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Franklin Times, Volume 9, Issue 657, 9 August 1921, Page 7

AmericaiT'produce is not finding its way abroad as the Americans would like, and they are now setting themselves to the task of overcoming the difficulty. A Canadian writer states that a proposal has been frequently whispered, only to be cried down in nearly every country concerned, namely, that the United States cancel European war debts, now finds more outspoken utterance, the proposal being enlarged to include cancellation also by G) eat Britain. Such an idea has been rejected, first of all, on selfish grounds, on the principle that countries, as well as people, desire to collect what is due them. There was also the quick rejection by Great Britain, which wanted no favours and felt confident of making recovery by getting back to work and using the unique gift for trading, which has done so much to enlarge British power and increase British wealth. The latest important comment is by P. U. Filson, American correspondent of ‘'The London Daily News,” who says : “It may be stated with -absolute certainty that cancellation of European debts all round, by Britain and the United States, as proposed by Mr Chamberlain, has come to be regarded by the responsible American Ministers as essential to the situation. With railway traffic dwindling, harvests accumulating, and markets for metal and cotton shrinking, the United States is paying a heavy price for her political and economic isolation. The conviction, that the cancellation of European debts is essential is the outcome not of diplomacy but of the logic of events as reported by bankers, manufacturers, farmers, cotton growers, and exporters. The position of the United States Government seems to be that, since interest on these debts is funded till May, 1922, there is no need for Britain to press for an immediate and public decision row, which decision, if it is to be accepted by Congress, must be manifestly inevitable. With every week the case for cancellation becomes plainer to public opinion, and especially to commercial interests. With a little patience this is thus a matter which may decide itself. “The splendid isolation” of which a noted British statesman once spoke is apparently not of much benefit to America.