The New Zealand Railways Magazine, Volume 6, Issue 2 (June 1, 1931)
Debts and Despair
Debts and Despair.
Of much immediate consequence is Germany's demand for another review of the debts. As measured by the lower prices of goods the war debts are crushing on all debtors, and Germany declares that her share of the burden is unbearable. Behind the German political mission to England is the renewed demand for a more practical rearrangement of the economic burden, or for a moratorium; and in the United States (the ultimate creditor) Senator Borah's reported utterances go a long way towards encouraging the debtor countries to hope for something. There is a feeling that prevalent burdens, if not eased, will play into the hands of warmongers and other wreckers. Things must not be allowed to become so bad that any large section of people can be persuaded to prefer war. Thus politicalism and militarism again become interlocked with the economic tangle.