Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1920-01-02

washington, Dec, 26.-Eurther ex-
tensions of credit by the United States
to suffering Europe aggregating ST.
800,000,00O will be considered by con-
gress as soon as it reassembles next
month. r,1
1t is proposed to fiji
starving central EVEepd
of $3000O0,0O0 and to ia
loans the $1.50O,0OO.0 900 il
the next three years on
allies.
In connection n
conditions in cenN
of Herbert Hoovei(
Hoover is of the d
America comes to
sands Of people will
this winter in Austri!
land and Bohemia s
has suggested that n
called before the fq
committee of the senate
suggestions.
Hoover Calls Ire
Mr.. Hoover has bee
sorting that the peace tn h
harshly with Germany because
mits Germany little chance of re
ing itself. The allied exactionS
Germany are so stupendous, he sal
that it will be a long time before I'll
Teutons will be prosperous again. IN
opposed American relief work in Gefa1
many on the ground that relief fnnd5l
poured into Germany by the United
States would be dipped out by new
demands of the allies.
Mr.. Hoover is also quoted as opposl
ing the assumption by the United
States of mandate for Armenia. He
pictured Armenia as a poorhouse sur
rounded by solvent banks. He re-
ferred to the contiguous cotton fields
of MesopOtamia, the copper mines of
Syria and the oil fields of the Black
sea coast, all of which have been an
neXed by Great Britain and France
In regard to the relief of starving
central Europe Mr.. Hoover proposed
that the funds of the grain copora-
ton, aggregating with accrued profits
S250,O00,O00 be utilized. He would
have this fund advanced as a nominal
extension of credit for the purchase
of food for Austria, Hungary, Poland,
and Czecho-Slovakia. 1t would be i'm
possible to exact security for such adj
vances, however, and the loan would
be regarded as charity which the
United States is called upon to extend
from its plenitude to suffering human
ity,
The secretary of the treasury will
proceed to fund into time obligations
the interest due on loans to the allies
unless congress decides he lacks the
power without further legislation.
Glass Asks for Opinion.
Secretary Glass has asked the ways
and means committee of the house to
decide the question, in letter in
which he says:
IF the treasury demands an imme-
date cash payment OF interest before
the industry and trade of Europe has
an opportunity to revive we should not
only make it impossible for Europe to
continue needed purchases here and
decrease their ultimate capacity to pay
their debt to US. but should hinder
rather than help the reconstruction
which the world should hasten.
"A notion can liquidate IT'S foreign
debts ONLY by the accumulation of for
eign credits which may be accom-
D!ished through an excess srade bal
arce, invisible exchange items. the
creation of credit loans, or by the
export CT gold.
until our associates in the war
nave had an opportunity to resume
normal industry and commercial ac-
tivities they will not have the exports
with which TO pay the interest due on
our obligations and could make such
payments only by shipment of gold
or by obtaining dollar loans in the
United States.
while | fully realize the desira-
bility of collecting this interest,
should be most reluctant, without spe-
cific instructions from congress TO the
contrary, to demand the immediate
payment of interest by those countries
which would destroy their power to
make needed purchases in our mar
kets."