The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-02-21

established In the amounts deemed
proper. The amounts OF the credits
so established were not immediately
withdrawn from the Treasury. but, as
needed for the purposes specined. cash
advances were made. As these ad-
vances were made. the obligations OF
the governments receiving them were
taken as required by the acts OF Con-
sress.
TN some instances. obliGst ions
were taken before the full AMOUNTS
called for were withdrawn or Ad-
vanced. the understanding being that
these amounts would be advanced
up TO the amount OF the obligation
as they should be required.
SOME CREDITS WITHDRAWN.
Some of the credits established
were from time TO time. for various
reasons. withdrawn before the full
amount had been advanced. The ad-
vsnces actually made In this way
amount to Vs.bs0.S2s.s771s. leaving
an unexpended balance OF the var-
Gus appropriations for this purpose
Of SS1s.l7Ss2sS2. AS stated above.
tablishin9 any further credits
against this balance or of making
any cash advance therefrom except
In compliance with credits heretofore
established but not yet fully ex-
haustsd. The only balances remain
ing unpaid on account OF such pre-
viousIy established credits are the
following:
Csecho-slovak republics s.oTs.ss4.ss
French republic ........ 60.+se.s7724
Royal Greek Govt. ..... 33.23s.S2s.05
Royal Italian Govt 80. Sf.szi.Is2.7S
Republic of Liberia .... t,s74.o0o.00
DIRECT RELATION TO WAR.
Against these balances Il has been
the purpose OF the defendant TO make
such advances as shall be necessary
to fully comply with the understand
ing and agreements made at the time
the various credits wero established.
Such advances. however. will be made
only for the purposes for which the
credit was established. These pur-
poses. In every instance. had a direct
relation to the successful conduct OF
the war, and hence TO the security and
defense of this nation. The object
who were at war with the enemies
of this country with the necessary
means to meet the obligations, which
they must incur for the prosecution
Of tho war.
I'm tho nature OF things, the
amounts that would be needed for
these purposes could not be fully
known in advance, nor could they be
definitely determined until the
amount OF oblig ations incurred could
be ascertained after the close of the
war. II was necessary. however. that
such foreign governments In incur
ring obligations for tho prosecution
Of tho war should know tho extent to
which they could look to this Govern
ment for the funds to meet such
obligations. By establishing credits
in given amounts, therefore. the faith
OF this Government was pledged to
furnish, within the limit stated, such
amounts IS should thereafter be found
necessary for the purposes specified.
EXACT AMOUNT UNKNOWN.
THE exact amount which 1t will be
necessary to advance against the
above-stated balances, In order to
keep faith, can not now be accurately
stated Defendant however. has
every reason TO believe that II will
not be necessary to advance the full
amount Of these balances. In his re-
port for 1920. at page 90, he stated
what he then believed would be re-
quired in the way OF further advances
against these balances Of credits as
follows:
THE credit of which a Balance re-
mains in favor OF the Czecho-Slovak
republic was granted for the purpose