Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-09-04
KITCHIN MAKES APPEAL
FOR NEW ALLIED LOAN
Declares Advancement A SIX e d
Necessary if War Is to Be
Fought Out
WASHINGTON. Sept. I


There is but one proposition before the
House whether we shall make "a new loan
to the Allies amounting to four billion dol
lars We have made their cause our cause
Every move they make benefits us. They
are no longer able to finance themselvs.
So far we are. What are We going to do
about it?"
This was Majority Leader Kitchin's
opinion, given today in the general debate
on the biggest money bill ever considered
by any legislative body-the $ll,j3S,9i5,i60
bond and certificate bill.
MIR Kitchin pointed out that three bill
lion had been extended In credits already to
the entente nations. To finance these until
next July, however, four billion additional
is an absolute necessity, unless peace is cs-
tahlished before that time.
The bond issue of seven billion contem-
plated in the bill Is cffsct by fore gn securi-
ties for the same amount maturing not
later than the United States bonds and with
interest payable at the same time, MIR.
Kitchin pointed out.
"Shal we help our Allies or shall we re-
fuse TO help them" Mr.. Kitchu demanded.
IF we are going to fight this war out
and we are going to fight II out to a finish
we must make this additional loan. The
figures are staggering, but necessary in this
crisis
ENPLAGNS CERTIFICATES
Explaining the issue Of certificates of in
debtedness provided for I'm the bill. Mr..
'itch'n said they had been planned as in
vestments redeemaDle at any time and
bearing interest to give an opportunity ("
very small investors to do their bit"
1--WE expect to raise between one anG
two billion dollars in chicken feed with the
certificates" he said. He pointed to the
instant success of the scheme in England 10
bear out his statement.
Representative j. Hampton Moore, dis
cusslng the bond bill laid particular en-
phass upon the fact that the United States
in five months of its war had expended
nearly much England in three years
81 assume that the people of the United
States viii patrOtically comply with evary
obligation which the President and Con-
gress impose upon them to win this war,"
said Mr. Moore. but if it is true that we
are In for a long and costly war and we
begin our part of it with $4,000, 100000 of
American obligations Is II not fair to our
own people, and to our Allies as we'll that
we taken an early account of their war
stock and Of ours? If we begin With Great
Britain, the greatest of the foreign ma tons
with whom we are cooperating. the con-
trast will be interesting.
'.-' GREAT BRITAIN'S DEBT.
Data compiled by the Department of
Commerce and submitted to the Ways and
Means Committee shows that the public
debt of Great Britain March 81, 1914 was
$3,4i3,799,0OO; that one year later. March
81 1915, after the war had started, it had
advanced to S5.673S7i,0 ,00O. a matter of only
$1,000 200 900 In one whole year; and that
more than three years later, July 81 1871.
the interim being war years, it had in
creased to S2lS97,666,0 900, or only about
So, 900, 100000 more than the United Statee
war cost, including loans in five months.
The department data submitted to the COM
mittee show that Great Britain's debt in
cluded advances to her allies and to Brit
ish domnions Of an equivalent of $5,S0O,-
100000. If paid these advances would re-
duce the total British debt for war of