The Washington times., 1921-02-14

allied countries over, 10 aid In the
reconstruction OF the devastated areas
In Belgium, Northern France, Italy
and elsewhere, and generally 20 AS
sist In restoring tho economic hfs %
those allied countries.
ut is impossible to determine the
smount OF aid which may be desired
until fun investigation has been
made
The amount available under er-
isti's appropriations 10 about w.
300. voo. 900. The proposed advances
OF this sum constitute only small
proportion OF the needs OF France
and Belgium for the work OF restors-
tion."
Mr.. McAdoo added that he thought
the foreign loans were perfectly
good" and would be repaid. This
was after the armistice had been
signed. He discussed the possibility
OF the United States cancelling for
eisn Indebtedness and said he be-
iieved this would never be done un-
less an overwhelming public senti-
ment In the United States should
demand IL.
-we are, the creditors of the Eu-
ropesn allies to the extent OF over
-. 000. 100000 and have q very real
economic life. For these reasons
urgently ask the authority to
broaden the purpose for which the
loans to foreign governments may
be made"
Thus spoke Secretary Glass in
1919.
At the same time Albert Rath-
bone, Assistant Secretary OF tho
Treasury. said:
This bill extends the time for the
making OF loans and the purpose
for which foreign loans may be
made. We are limited in making
advances to aid In the prosecution
OF the war or for national security
and defense. and that is the reason
we inserted the provision to make
loans to promote foreign commerce"
The American Peace Cen.issis.
had hardly arrived In Paris before Its
members were besieEed By allied rep
ceIlation by the United states 81 all
foreign loans. All overtures 10 this
effect were from the start Indignant
~ rejected.
This fact became known on ex-
tremely high authority today. II was
also learned from another source that
not only did President Wilson refuse
to consider remission Of the debt, but
vetoed a proposal to conduct con-
ferences on any phase of the debts
owed the United States at any place
except Washington. 1t had been sug-
gested TO him that these matters
could be discussed at the Versailles
conference.
Senator Carter Glass. who was Sec
retary OF the Treasury at the time OF
q.
day for the first time attempts made
TO secure discussion Of Americas
loans at a place outside the sphere
Of American influedce.
Never during his incumbency did
President Wilson convey to him by
the slightest intimation that he would
look with favor on anything but full
and complete payment OF the debts
owed the United States. said Senator
Glass. He added:
1T is ridiculous to suggest tha'
thoughts in any form. There wasn't
the slightest intimation from the
President to the Treasury that he
ever contemplated even modification
Of the loan agreements.
"In fact, when 1t was suggested
at the peace conference that he Sc
lected Paris instead OF Washington
as the place for conferences at which
details connected with the loans
still should be worked out President
Wilson readily confirmed my recon-
mendation against this proposal. As
a result, those who sought to re-
move the conferences to Europe
abandoned their efforts and Wash
ington was agreed upon"
A report published in New York
that an alleged agreement by Presi-
dent Wilson to lend his assistance 10