Der Deutsche correspondent. [volume] (Baltimore, Md.) 1841-1918, 1916-08-18
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JOHN BULL WANTS MORE AMER.
ICAN CASH.

England comes begging for an
other loan Negotiations for placing
it in New York have been completed
and the details of the loan have been
announced by j. p. Morgan & Co. as
syndicate managers. The amount of
the loan will be S250,000, 700, of
which one part win be secured by
stocks bonds and other securities Of
American corporations, another part
by Canadian stocks and bonds, and
tina, Chile, Norway, Sweden, Switzer-
land, Denmark and Holland
Including this loan American
bankers will have advanced to the
Entente Powers $500, 100000:
S500,000,000 to Great Britain and
France jointly in September 1915,
500, 100000 to France some time
ago, $4,000, 900 to Russia about a
month ago and now $250,00O,0O0 to
Great Britain. These sums, large as
they are, are mere bagatelles COM
pared with the huge amounts ex-
pended upon carrying on the war,
and American bankers are quoted as
saying that if the war lasts much
longer the forthcoming loan to Great
Britain will be followed by others to
all the Entente Powers. Is it sound
financial judgement to advance these
nations any more more money for
destruction purposes?
Last week Reginald McKenna,
Chancellor of the British exchequer,
in an interview with a representative
OF the New York Times made a
series of statements that bring out
the vast magnitude of the cost Of the
greatest war known to history. The
British Chancellor began by assert
ing that for England the daily ex-
penditure for war purposes is
$25, 100000, which means an annual
outlay of about $9,125,O00,000
These figures of themselves convey
no definite idea of what they repre-
sent. Chancellor McKenna tries to
render them Ineligible by making
comparisons between the cost Of this
war and former wars Beginning
with the revolutionary and Napole
onic wars, which extended over
twenty years he says: "All that was
spent by us during the many years
of the revolutionary and Napoleonic
wars would not suffice for six months
of the present struggle"
That is certainly a staggering as
sertion. which helps us to realize at
what rate John Bulls Golfers are be-
ing depleted. Chancellor McKenna's
second comparison had to do with
the Boer war. or it he said: "Our
last war, in the South African cam
paign cost us $1,250, 100000 and
lasted two and one-half years. To-
day this sum would be used up in
less than two months"
Then followed a reference to the
cost Of our Civil War. For Amer
lean readers this comparison is OF
great interest: "Your own Civil War
was particularly costly, but the
$3.330,00O 900 which historians say
was spent by the Northern States
during those four years is equal to
little more than four months of our
present expenditure"
BY this time we begin to have a
conception Of the huge national debt
England is piling up at the rate Of
S25, 100000 every day the war lasts.
But still we cannot grasp the full
of the figures quoted by
the British Chancellor. A billion is
far beyond the comprehension of the
man in the street
Last year French newspaper
with a view Of giving its readers an
idea Of the character of the French
loan of victory" of 4,000,000,0
our money $4,000, 100000
reminded them that 1,007212
had elapsed since the birth
of Christ.
SO that If England had spent nine
dollars every minute since the dawn
Of the Christian era, she would not
have expended more than she did
during the last twelve months. And
now for the second time she comes
asking for big loan Of Uncle Sam.
If Uncle Samuel is prudent he will
draw light his purse strings and re-
fuse to advance any money to a ma
ton that is heading straight to the
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