The Guardian And Evening Star, with which is in corporated the West Coast Times WEDNESDAY, MARCH 23, 1932. DEBT REVISION

Hokitika Guardian, 23 March 1932, Page 4

The Guardian And Evening Star, with which is in corporated the West Coast Times WEDNESDAY, MARCH 23, 1932. DEBT REVISION

THk large issue ol’ the revision of war debts, in the melting pot. The latest news from the United Status indicates that tlu> Government is opposed to any relief 10 the hotivuy pressed debtor nations by modifying or cancelling debts. It is true this decision was net unanimous, for there is a. leaven of public opinion in America which strongly favours debt Tevmion. In the end, probably, tins attitude will assert itself more definitely, but at the moment it is in the minority and can only point to the facts, and the ultimate logical issue from those facts. The discussion showed that those who favoured a revision were the stronger advocates but uiey were up against- the policy of the Government, and for the time being that stands. But Governments as well as policies, change with times, and that is likely to be the ultimate course of the attitude of me United States on war debt revision. In every walk of life .now, in great countries and unions in public body life, in private business, and irt individual experience, there are changes being forced on men and nations, which were undreamed of in the hotter ordered times. It is a cn-'C of circumstances altering .conditions. and the position judged and weighed by matters as they arc and not as they might he. In other words, the world is drifting in difficult times, and al'l have to face the necessity, for some change out of the beaten path. In our own country, we see much happening that was before undreamed of. These economies and reductions now being forced upon us, were never in mind till stern reality had to be faced. And it is just that condition which is likely to present itself to the United States in. the near future, and cause a tactful change in policy, ft is the chvire of every country to pay its way, | and till the burden of the war debt pressed so- heavily, matters generally were well in train to do so\ But with (lie pinch must come the compromise lo save actual default. A strong nation like Britain with robust reso'in'vi.‘'S| and above nT a desire to retrieve the position, makes- prompt and Ik,ld efforts lo do so. and aehieves the result while all the world wonders. But oilier •udjoli,:; ere drifting, even I-'ranee with a hoard of useless gold, has to lace a huge national deficit. New >h'-il:i'Ui ho.s 11 :• serious di ff'i-ull ies too. .mid the effort to meet the situation is under wav. I hero js a way out. and advice t“ that end a.s in ilie obvious .sacrifices to tie made, is tendons! by responsible :-dvis ' "t 111 ere is opposition and delay. Vet: ivlnt we ur' called on In do us individirdo is no ’ ■: ; a duty G m Go! jor the 11at ni as a whole. We have to stive wl - e we can: rurtail where U -|. ,-an' -II 1 do without wlice we ~ Ul To do -It this mean:, breaking with past i-oinlit i MS I'lli'h lav.' s lb sj.sted ior long, hut il is the only way 1,, meet the situoi jolt so that mailers oo.iv run smooth! ■ and contentment must return to I lie land. 'I he. United

States luks a much larger problem before it to save a scaling down of the war debts, but the necessity to do uo is there, neverthcle.'S. It is for the Government to lace the pos.tion, and sooner rather than later that must he done.