Letters, Aug. 15, 1932

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"But the most interesting case is that of Senator McKellar. This ardent champion of making the foreigner pay regardless of the consequences is a representative of the State of Tennessee. According to the World Almanac, Tennessee is primarily an agricultural state producing lumber, tobacco, cotton, corn and cattle. In 1930 it appears that of the total American production of tobacco 40% was exported, of cotton nearly 45%, of lard about 29%. It is plain, then, that the prosperity of Tennessee is intimately dependent upon a flourishing foreign trade and upon a recovery of world prices.

"One would suppose that Senator McKellar of Tennessee would be greatly interested in every measure designed to improve the purchasing power of the outer world, that his chief and his constant concern would be the restoration of the world economy. But not at all. Senator McKellar's notion of how to serve the people of Tennessee is to treat their customers as if they were brigands. And to what end? That the United States Treasury should continue to exact from their customers payments which, if not received, must be borne by the taxpayers of the United States.

"But why is Senator McKellar so excited about these taxpayers? In 1931 his State contributed one-half of one percent of the Federal income tax. Obviously the interests of Tennessee in world recovery far surpass her interest in Federal taxes. When one remembers that a world recovery would instantly reduce the burden of taxes, it is really hard to see what Senator McKellar thinks he is doing for his own constituents or for anyone else."

FABIAN JOHNSON

Montclair, N. J.

Sirs:

Current news items on War Debts for years back have created a grossly exaggerated view of the size of international war debts. An example of this is contained in your editorial comment (TIME, Aug. 8). You state the present national wealth of the United States at $329,700,000,000 and you give the War Debts to the United States at $22,230,000,000. The present value of the national wealth is $329,700,000,000. The present value, on a 3½% interest basis, of the payments totalling $22,230,000,000 which we are scheduled to receive is $7,500,000,000, approximately one-third of the figure which you mention. So you see that cancellation of the entire Allied War Debt instead of being 70?' out of every $100 of national wealth is only 20?' out of every $100 of national wealth. From this one may conclude that the sum total of the War Debts is such a trifling item that it cannot possibly be responsible for all the woes with which it is charged; or one may conclude that the total sum is so trivial that our attitude is analogous to attempting to sue our friend who borrowed from us last week a nickel for a telephone call.

MONTGOMERY BROWN New York City

St. Louis Horses

Sirs:

In the issue of your magazine of July 11, on p. 18 under the heading of Animals, there appears a footnote which reads as follows:

"Most of the horses used in Spain's bullfights, whose disembowelling so annoys U. S. tourists, are bought in St. Louis at $5 a head."

May we be allowed to explain that the horse market of the Middle West is not located in St. Louis, Missouri, but across the Mississippi River in East St. Louis, Illinois.