The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1917-04-20
7 BILLION LOAN,
NONE DISSENTING
Greatest Money Bill in History
Rushed Through With
Enthusiasm.
389 MEMBERS FOR IT
Meyer London Votes "Present"-AN
Absentees Favor Measure-$3, ,ooo,-
600 for AIles-Flotaton Ex-
penses Limited to 100000.

shngton.-Wthout a dissenting
vote the House offered President Will
son the greatest war budget over car.
ried in a single bill, 10 carry out the
directions OF the war resolution.
In the most impressive exhibition
! OF patriotic unanimity which the
! House has shown since German-Am.
erican relations first became strained
! 389 members Of the House on both
| sides Of the aisle voted TO place a
! seven billion dollar credit in the hands
| OF the President with authority TO use
! three billions Of that amount in abb
, sorbing obligations OF foreign Govern.
ments which now are or in the future
may be at war with enemies of the
! Government OF the United States.
The bill then went to the Senate,
where quick action was assured.
The tremendous credit thus placed
in the hands OF the President TO be
extended 10 the allied Go~ernments
will be. in the belief OF many the de.
termining factor OF the war if handled
as anticipated
While the distribution OF the credit
has not been discussed except in clos.
est executive circles and while abso.
lutely no decision as to apportionment
has been reached policy of so apply
ing the credit as to bring the war to
the speediest possible conclusion com
patible with the aims and ideals OF the
allied Governments will dominate the
President and Secretary McAdoo in
their course.
The discretion lodged in the Secre.
tary Of the Treasury through the gen
eral terms governing the employment
OF the three billion dollar credit will
place McAdoo, as he enters the coming
international council which will deter.
mine the distribution Of the credit. in
the position of carrying the power that
may spell victory for the United States
and its partners in the great conflict.
Forty minutes spent in calling and
recalling the roll OF the House on the
passage OF the bond bill failed to de.
velop a single mo" vote. though Meyer
London. the Socialist member from
New York, voted present"
The bill was not materially amend
ed in the House. except for the inClu-
sion OF language specifically directing
that the loans 10 foreign governments
shall be made during, not after, the
war and that the securities bought by
this Governments with proceeds Of the
war loan shall be the securities OF ma
tions fighting Germany
A committee amendment reducing
the appropriation for the expenses Of
the issuance OF the $1,000 100000 in
bonds and $2OOO,OOO,OOO in one-year
certificates of Indebtedness was
adopted.
Owing TO general pairs and abb
sentees only 3S9 votes were recorded
for the bill, but both Democratic Lead
er Kitchin and Republican Leader
Mann announced that all Of their mem
bers would have voted affirmatively II
they had been present. The formalty
OF a roll call would have been dispens.
ed with If several member who voted
against the war resolution had not in
sisted upon having the opportunity
of recording themselves in favor OF
providing money to carry on hostin.
ties now that the nation is at war
The bill authorizes $4,000 ,O00 900 in
bonds Of which S3,000000,000 will be
loaned TO Entente countries, and the
issuance Of Treasury certificates for
81 000, 900, 900 ultimately 20 be met by
increased taxation.