Debts! Debts! Debts!

The event of the month in foreign affairs has been the mission of the French Premier to Washington, following on his mission to Berlin, and (earlier) the British Prime Minister's mission to Berlin. Germany owes huge sums, including the special reparations debt to France. Britain, France, and Italy owe huge sums. Only the United States is entirely creditor. Britain is both debtor and creditor, and long ago was willing to balance accounts. The creditor United States is asked by Europe to reduce the debts, and the question arises: “What will the United States ask in return? Will President Hoover ask the French Premier Laval merely to reduce France's reparations claim on Germany? Will he demand French disarmament also?”