Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-04-01
IN OPPORTUNITY TO PAY
DEBT OF. LONG STANDING
congressman Montague Draws Two
Bills Providing for Billion Dol.
lars TO French Republic.
AMERICAS ONE AND ONLY ALLY
acting on Suggestion OF New York
World, Congress May Wipe ON tho
Slate an Obligation That Has En-
listed for 1875 Years.


listed for 1875 Years.
These days one hears mostly OF
iegacies left by his forcfathers: sell
dom Is his attention called to a debt
which his forefathers have left for him
to redeem.
debt 1t is. however. which the
American nation is about to pay to
FSance II either Of the bills drawn
by Congressman Andrew ]. Montague,
OF the Third District OF Virginia. is
passed by the Congress that convenes
III Washington Tomorrow. Mr.. Mon
tagne has framed two bills; ono. Of
ferina on behalf OF the United States a
gift OF s1.o0o.0oo.ooo to tho Republic
or France. and the other giving $780,
100000 and loaninG s50o.o0o,o00 to
France.
Tho debt may be considered gen
lieman's agreement OF long standing.
AS a new proof of his affection and
friendship" the King OF France loaned
approximately "ffty-three million
llvres" TO tho young United States du-
RING the American Revolution. The
time has now come when the older re.
public IL In need OF aid from the
younger: tho child may repay the par
ent. II seems significant TO many who
are supporting the measure TO give a
Dillon to France, that after 1875 years
OF growth and development. this nation
should pay debt TO creditor in a
position similar to that which tho
United states occupied whom It incur
rSd tho welcome obligation.
CONGRESSMAN MONTAGUE
RECITES REASONS IN BILL
In his bill. which no will introduce
tomorrow. Congressman Montague,
representing the State OF Virginia
which so deeply felt tho aid OF France
a. Yorktown. sets forth the following
preamble. indicating the service which
the French republic rendered.
"A bill for tho Relief OF the People
OF France:
t'Whcreas. His Majesty the King OF
france. responding 10 repeated
Quests OF the United States, rs set
July IS, 1882. had tho goodness -
support them, not only with his forces
hy land and sea. but also with ad-
vances or money. as abundant AS thev
were cfectuai. in the critical situation
10 which their affairs were reduced:
: Whereas. In compliance with the
requests of the United states. ms
Majesty the King Of France did. dur
Ing tho American Revolution. lend 10
tho United states sums amounting APP
p'oN'inatciE 10 'nftE-thrcc million
i'rrc=';
Whereas. His Majesty tho King OF
Nance did, between tho dates Of Feb
tary iiIs and 1881. and from motives
~ pure generosity give TO the United
States sratuitous assistance aids AMI
- nine million iirrcs tournois:
|. whereas His Majesty the King q.
France did. - q new proof OF his At
Teton and friendship prcsen. and
r"mit arrears OF interest on the va
rtous loans hcrcinbcforc mentioned
nn'u and after tho conclusion of peace
between the United States and Great
Britain:
,whcreas. Ills Majesty tho King %
France lid place al the dsposa, o.
tho United States his land and naval
|. forces. and by their corporation
Particularly at Yorktown. tho iude-
rendcncc OF the United states was as.
surcd:
And whereas. France. our frs, anc.
our only ally. is now engaged In n
war for independence and for tho
maintenance or republican insti,u-
ticns.
Therefore. in grateful recognition
o. the services heretofore rendered
b. France TO the cause of American
Independence and in fraternal sym
pathy with France and It's people in
their present distresses and struggles
for tho preservation OF their existence
and the maintenance OF republican
institutions. :"
EJPENDITI ri: or MONEY
IN UNITED STATES
This bill provides that the billion
dollar gift be used only for making
advances 10 the government OF the
French republic for expenditures in
the United States. For such sums as
he may borrow the Secretary OF the
Treasury is hereby authorized to pre-
pare and issue bonds OF tho United
states In such form. and subject TO
such terms and conditions "a he may
prescribe. Such bonds shall lie pay
able not exceeding nifty years from
date Of issue, shall bear interest not
exceeding 3 per centum per annum
shall not have the circulation priv
ilege attached. and the principal and
interest thereof shall be payable in
United States gold coin OF the present
standard or value, and shall be ex-
empt from all taxes duties OF the
. United States. as well as from taxa
,ion in any form by or under State
municipal or local authority. =
Tho alternative bin which Congress-
man Montague will offer provides that
for the purchase in the United states
or commodities and supplies OF any
and all kinds by tho government OF
the French Republic the President is
hereby authorized 10 extend on he
half OF the people Of the United States
10 the people of France. n gift of $780,
100000 and loan of 100000. 600 ard
such sum shall not bear interest and
Hhali be rcpayable Mt the Measure or