Will America Veto?

Of course there are reservations. The Lausanne agreement is dependent upon ratification by the different countries represented. And their ratification of the agreement—and their carrying out of it —would be greatly helped if an unrepresented country, the United States, would agree as creditor to a reduction of debt-burden complementary to the Lausanne concessions. But although the connection between the two lots of debt is plain to view, people must be careful how they word it, lest a trans-Atlantic storm arise over “secret pacts,” “pistol to America's head,” etc. This phase followed Lausanne. But, since then, the debt-reductionists in America have been cheered by a friendly gesture from the mercurial Senator Borah.