The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-29
|OMSK GOVERNMENT
| TO GET CASH HERE
America and Allies Will FL
nance Forces Trying to Put
Down Russian Bolshevists.
LONDON HANDLES DETAILS
Our Participation to Be About
$25,000,000 in Large Credit
Being Arranged.

That the forces OF the Kolchak, or
Omsk, Government which are endeavor-
ing TO stamp out Bolshevism In Russia,
will be financed by America and the
other allied Powers, was learned yes
| terday. A large credit, In which Amer
ica's participation will be Approximately
S2b, 000, 900, is to be established. Eng
land and France also will have parts in
the financing, the management of which
will probably be handled in London.
What steps have been taken in further
| ance of this plan could not be learned
yesterday definitely. as bankers here are
disposed to let most of the news con-
| corning IL come from London. The credit
will be used, in the major part probably,
| for the purchase OF materials necessary
In the campaign against the Bolsheviks
OF Russia.
Not a little other financing for foreign
nations is In the wind. The Norwegian
| Government, Il is known. has made sew
eral inquiries here for funds. and a rep
resentative of the Scandinavian Trust
Company recently sailed for Europe. His
visit is said to be in connection with
those requests for credits. The city OF
kCopenhagen will soon sell to a syndi-
cate headed by Brown Brothers s15.-
| 000. 900 bond issue. The terms OF the
loan. rate of interest. duration, &C.. have
not been made public.
Albert Breton, head OF the foreign de-
partment of the Guaranty Trust Com
pany, has Just returned from a six weeks
visit to Europe. where he studied condi-
| lions thoroughly. Mr.. Breton Is yer,
optimistic as to conditions on the other
side of the Atlantic, considering that the
Continent has been devastated by five
years of war. He believes that the prob
lens which confront bankers manufac.
turers and business men with respect to
European conditions will be worked out
satisfactorily in a reasonable length OF
time.
Europe's Financial Needs.
Mr.. Breton estimates the needs of the
European countries, exclusive OF Ger
many, within the next year at lit
tie more than $1,000, 600. 900. Thai
estimate he has divided among Italy
France and Belgium. with 100000,
900 for Italy, s4oO,Oo0.000 for France
and about $500, 100000 for Belgium
Belgium he considers to be In the best
position of all countries. Many of her
factories already are running again, and
her unemployment is being reduced by q
considerable amount all the time. he said
Il don't believe you should judge Eu-
rope as a whole" Mr.. Breton said. 'Con-
OlHer III tne NdrtOuS QUALITIES
| and each one should be considered on Its
individual circumstances. America must
first provide for the most urgent needs
Leaving alone the big loans, large con-
tracts which will take two and three ano
| four years to carry out, the problem to-
day Is to supply raw material and some
| special machinery to let the factories
start again and provide labor for the I'M
| employed.
What is probably expected from
America first is to open credits TO allow
4 these nations to buy what they need to
get started again on a commercial and
| Industrial basis. The amounts OF these
credits will probably not be as large
Is might be thought. France will need
about $500, 100000 in the next year.
They would like to get started just as
soon as possible, but they realize that
there is reason for the delay on this
side in the extension of credits Even
they don't know exactly what they need
and what they are going to do, l'art
Of this credit can be supplied by indi-
yidual effort. France Is confident that
the United States is entirely sincere
and wants to help her on a basis which
A., will be fair to both parties.
| THE French Government. of course,
will play some part in the extension OF
t;ese credits. The Bank of France al
ways works with the Government and
the French Government will give IT'D
moral and material assistance to the ne
gotlatlons.