New Ulm review., 1921-11-30
GRABBED UNCLE
SAMUEL s MONEY
NEW REVELATIONS INDICATE
EXTENT OF WooDRoW,s
BENEvoLENCE.
MILLIONS OF LIBERTY LOAN
MONEY WERE GIVEN III 4,
TO EUROPE.

/
the, extent to which, under the benev-
olent impulse Of new freedom, preach
| ed and practiced by the late national
administration, Uncle Sam, engaged in
the foreign missions business to the,
neglect of the interests Of his own
people. Although it was the peoples.
money, raised through Liberty Loan
drives and taxation, that was loaned
| to the foreign governments, it was only
with the utmost difficulty and delay
| that Congress has come at last to have.
access to the records and correspond
ence connected with the foreign loans.
The records show that approximately
81, 800, 100000 was loaned to foreign
governments after the war had ceased.
Report Kept Secret.
In report, consisting of 388 printed
pages, Don M. Hunt, special counsel
to the Congressional committee that
demanded from the former secretary
of the treasury the records Of all loans
to the allied governments, has supplied
a large fund of information, supposedly
for the country. 1t is announced that
the report is guarded with the closest
secrecy. After showing that the treas
ury department accepted demand OBJ
legations from foreign governments for
all the loans made by the United States
when all the sections of the acts author
izing the loans provided for obligations
| of the same tenor and effect as the par
ticular Liberty Loan by which the
money was raised, the report goes on to
show that the demand obligations thus
received, having no maturity date and
no definite interest paying date, made
it an easy matter for the foreign gov
ernments to defer the payment Of
both principal and interest, 1sas the
whole matter was left in very in
definite and uncertain state.
Double-Crossing Our People.
1The Treasury Department" the
report says, Continued making ad-
vances to foreign governments, while
at the same time it was conducting
consultations and parleys with foreign
governments on possible cancellation
of all debts as proposed by these
governments.
Various branches of the United
States government made payments of
cash to foreign. governments, which
were indebted to the United States
both on loans and interest, when these
reports should have been made to the
United States Treasury and credited
to the account of the government to
which they were due.
Political Loans Made.
| Numerous loans were made from
this fund for the purpose of increasing
our influence in the European political
situation at the peace conference, not
for the purpose Of prosecution of the
war.
Millions of dollars of this Liberty
Loan money were loaned to Great
Britain after all hostilities had ceased,
for the purpose of permitting her to
build up her export trade and return
to a normal basis. Thus, the money
raised by the American public to prose-
cute the war was used by Great Britain
in competition with American trade.
Loans Hurt the u S.
The correspondence shows that
while we were loaning these enormous
sums to Great Britain, 50 that she
could return to normalcy, she was
using large sums of money to obtain
worldwide monopoly in oil and oil
fields.
Most Of the money loaned to foreign
governments was used to make pur-
chases in the United States. By con-
tinuing the making of loans to foreign
governments after the Armistice, so
that they could return to normal, the
Treasury Department prevented the
United States from returning to nor
NAL because the purchases made in the
United States with such loans kept the
prices in the United States at war
instead of a pre-war level.
Paid Delegates Expenses.
Zone hundred thousand dollars Of
American Liberty Loan money was
used for expenses of the Russian dele-a
cation at the peace conferences This
with the approval Of the Treasury Dea
partment. Moneys from this fund
went with the approval of the Treasury
Department to the aid Of three separate
de facto governments in Russia
namely the Kerensky government, the
Kolchak government and the Wrangel
government.
Twenty-six thousand dollars Of
Liberty Loan money went to defray
the expenses of delegates from Liberia
to the peace conference. This with
the approval Of the secretary Of the 4
treasury and the president.
More Irregularities.'
millions of dollars from the Liberty
Bond funds we're loaned to govern
49, T.