The Washington times., 1920-01-01
GOING
BACK WITH PLEDGE
HE WAS SENT TO GET

NEW YORK, Jan. 1.-The New York American today
prints the following:
WASHINGTON Dec. 31.-America is going to be
morgaged for half century and perhaps longer to help
out England and all the rest of the world
This became known tonight, when, from authentic
sources the New York American able to learn the real
mission here of Vscount Grey the British ambassador
in New York ready to return to England.
Earl Grey has not failed in his mission here all the
newspapers have ntmated He has succeeded fully His
mission supposed by to be to try to the
treaty through the Senate But that only his ostensbe
mission.
What He Came Here For.
The real mission this according to those in posi-
ton to know:
HIS OBJECT WAS TO SECURE JyTs rq EHGE
OF THE WILSON ADMINISTRATORS FOR 4HE
SUPPORT OF A GIGANTIC INTERNATIONAL,
LOAN, $13,OoOOOOOOO HE HAS SUCCEEDED IN
OBTAINING THAT PLEDGE
The plan understood be that this huge loan will be
handled through the Federal reserve bank system
Planned to Run for 20 Years
This great loan is intended to relieve Great Britain
and her allies of the present tremendous pressure 1t is
planned that it shall run for fifty years.
r Naturally, the banks of the United States backed
by the savings and thrift of every citizen will have to
support this gigantic advance to bankrupt Europe.
Another feature, which will be far reaching in its
effect upon conditions in America, will be that the
banks of the Federal Reserve System may issue currency
against this vast loan.
Existing high prices and burdensome increases in the
cost of living have been blamed upon the increase in
rency in circulation against bonds With
another thirteen billion loan financed here, those who
learned of the advance to Europe figured that the
high cost of living will be peggcd for years come with
deferred hope of reducing it.
Paish Comes to the u S.
Earl Grcy's departure, with his thirteen billion dollar
pledge in his pocket concdent, probably with good
reason with the arrival in New York today of Sir George
Pash Britain most famous financial expert.
Sir George announced that he had here seeking
financial aid from America. In the mood of the President
when he declared that the failure of the peace treaty would
break the heart of the wod Sir George declared that
aid with the pumotor of great loans and supplies of
materials.
This loan promises to such large percentage of
our annual savings that it will throttle our own industries
prevent the quick reduction of debts to a
point where income and profit may be reduced and
Interfere seriously with legitimate promotions in own
country.
How Britain and her allies are going opay the interest
which is likely to exceed $6OOOO0OO0 year. on tins great
loan is not learned.
It is a puzzle to those in Washington who are in II
position to discuss this project TO know how England and
her allies propose TO the interest the gigantic new
loan since they have not paid any the old ones
They have asked that interest payments be deferred
for five years and Congress already aroused over tho
ueson of Secretary of the Treasury Glass that such
nosponement be granted them.
What hope has the United States 1t is asked here, Of
over getting principal or interest on this thirteen billions
when England own financial experts denouncng her
present financial policy and declaring that her expenses so
p. Il