The evening world., 1921-01-10
Cash Sent to Friends and Rela-
tveS in Warning Countries
Never Reached Them.
MAY BE HALF BILLION.
SenderS Have Only Receipts
Of Little Value and No
Redress.
BIZ Martin Green.

An item OF the cost or the great war
20 the people Of the United States
which has never been referred to be-
fore SO far as know, is the vast ag-
gregate OF money sent in small amounts
by foreign-born residents OF this coun-
Try to relatives in Central Europe
which was never delivered to those for
whom 1t was intended. From 1915,
when distress in Central Europe be-
came acute, down TO the present time
except during the period while the
United States was at war-this gift
money" as it Is known in foreign eN-
change banking circles. has been now-
ing into Europe in a mighty stream.
From the number Of receipts l have
seen representing dollars deposited IN
this city to be sent to Europe in the
shape Of marks, crowns, lei and
rubles, which have not been delivered,
l think l am safe in saying that n;
least half the money sent to Europe
during the war for the relief Of dis
tress was lost through n-delvery OF
for other causes.
The money sent from New York Is
only a fractional part OF the total,
for. large as New Horks foreign-born
population is, it is overshadowed by
the foreign-born population Of the
country outside the metropolis. Mi
lions Of Germans, Austrians, Hunga-
Tians, Russians, Jews and other aliens
or Americanized aliens have been
sending money steadily to Eastern aud
Central Europe for the past six years
EXCHANGE EXPERT SAYS LOSS
MAY BE HALF BILLION.
i asked a foreign exchange eXper,
Of wide experience the other day is he
thought S1oO,OOO,OOO would be a fair
estimate Of the amount OF money lest
by residents Of this country who sent
gift" donations to Europe After
protracted figuring he said;
IL think the estimate is extremely
conservative. When you figure in the
depreciation of foreign money values
during long periods elapsing between
the time it was sent from New York
and the time 1t was received by the
beneficiaries, you gather an enOr-
nous loss oven to those who got the
money from America, Then, adding
this to the money that never was
delivered and the great amount that
was stolen in New York and through
out the country by dishonest money
transmitteFs by means Of extOrtiOn in
f..ynhnngrn 4 vnrnVVlHn'f hn an inIIA II
the total would run up to half a bill
lion dollars.
The money that was not delivered
is irretrievably lost to those who sent
L unless something is done which
viii require the agencies which acted
as transmitters to refund more than
the present value Of foreign currency
should say that the present value
Of millions of dollars worth OF re-
reipts held in this city by persons
who sent money to Europe that
never was delivered is about ! pei
cent Of their face value.
"If thore Is another war in Europe
and ii appears at this time that an
other war is inevitable in the spring
when the Bolshevists will have to fine
something for their army to doth,
money Of Eastern and Central Euro
pean countries will be worth less thar
il is now, which means that it will b,
worth nothing at all. II will b
decades before those bankrupt coun
tries can assemble a stability of gov
eminent and resources that will re
store their money to its pre-wal
standing"
Even though all those who stil hol,
their receipts shall eventually col
lcct the trifing amounts those re
ceipts cntitle them to, there will still
be a gigantic loss represented by tn
receipts that have been lost or re
ceipts that have been destroyed b!
utterly discouraged holders and h.
the persons who sent money and hav'
since died.
oIIEsTIoN. WHERE ARE THE