The Leader, enterprise and press. (Fitzgerald, Ga.) 1915-1921, 1917-08-10
HUGE u. S. CREDITS
WANTED BY ALLIES

Debats i'll a prominent review OF fl
nance yesterday calls attention that
it is Americas imperative duty to
recognize obligations toward France
which it cannot escape and that 1t
must open credits to the allies as large
as may be required, without which
they cannot continue the war. The
article points out that the status OF the
United States is different now that
she is in the war and says that it must
not expect the same securities as when
her standing was on private basis.
Frances Hard Position
The review opens with a resume OF
existing conditions which require urg-
entity that purchases outside OF France
must be restricted to the lowest pos
siblc limits. for il the county shows a
Willingness to cut down internal eX-
penses and do without all imported
luxuries then it will have a right to
call on the allies for all needed linan-
cial aid. The allies know the review
adds, that France is in peculiar po-
sition with the richest districts in
vadcd, dependent a long time solely
upon itself and short of labor.
england, on whom we depend for
coal and many other things, would
not dream of refusing us credit for
purchases we made there the article
continues. we can rely on her 10y
atty not to demand immediate pay
ment for our purchases. Without
granting us any time at a moment
when we are short OF money to settle
would purely and simply put us in a
position of being unable to continue
the war. The allies, in according the
credit necessary to regulate our pur-
chases, contribute not only to the
credit Of the allies, but give us a
chance to live and fight by their sides.
What has just been said about our
agreements with England applies
qually as we'll to the relations be-
tween England, France and the
United States.
The latter are, in effect, suppliers
Of the alliS OF Europe and the allies
depend much more on America than
we do on England While America
was still neutral it could limit its
credit to us and demand that we pay
i'll gold large portion OF our pur-
chases. but now that it has entered
the war it would be folly on their
part to wish to continue to act this
way. 1t is absolutely necessary that
it furnish England and France with
all they need 1t is realized that in
America everyone has not taken into
account the exigencies of the situa-
ton.
America Must Open Purse
Some people still figure it is pos
sible to make war with peace-time
finances. Likewise many have been
somewhat frightened at the amounts
OF credits necessary for the allies
Americans have not been familiar
with sums current in allied countries,
but they will become so by the ext
gcncics Of the situation. Already
they have been slightly relaxed the
strict regulations imposed on banks.
They will go by the force of circum-
stances, much farther along this line
for it is impossible that a war which
overturned the economic life Of the
country should leave absolutely in
tact its financial mechanism. The
United States will do as other belli-
gerentS and can do so less inconveni-
emily because they have been enriched
since the beginning OF the European
war.
They will open to the allies Of Eu-
rope credits as large as may be need
ed for to refuse them would be to
make a continuation OF the war i'm
possible. But it is important that
Americans take account as soon as
possible of obligations which they
cannot escape. Every delay in their
action, every hesitation risked might
have the most serious consequences
for the allies This is what must
be understood in America and what
one does not seem to have understood
yet to judge by the shipment of gold
which England has had to send to
America. That neutrals must be paid
in gold is easily understood, but pay
ment Of gold should not be necessary
between allies who have the greatest
interest in seeing that one does not
create embarrassment for the other"