The Washington times., 1921-01-27
U. S. MAY HALT
/ NEW CREDITS
Foreign Governments Have
$13O,000,000 Undrawn
!; That Congress May Block.
BY W. II. ATKINS,
International News Services.

4 Internattonal News Service
I, Foreign governments now have
credits In their favor amounting to
S130.0Q0, 900, established by the
Treasury under war legislation,
which may be drawn upon In full
unless Congress stops further ad-
yances, as is proposed by legislation
now pending. Figures showing the
credit balances still maintained by
several foreign nations. under funds
set aside by the Treasury under the
loan acts. were compiled at the
Treasury today.
CALLS F'On ACTION.
Secretary OF the Treasury Houston
probably will go before the Senate
/ Judiciary Committee at an early date
TO explain the status OF the remain
ing credits. and the commitments
under which II might be possible for
other nations to draw upon the bal
7 ances now shown in their favor on
the Treasury books. The committee.
soon to take up Senator Reeds bill,
directing the Treasury to stop fur
+, ther advances. has indicated that the
overtures recently made by some gov
ernments. notably Greece. for further
/ big loans, calls for thorough tnvesti-
cation.
Advances already made by the
, Treasury are not now involved, the
issue being whether or not further
money shall be paid out by the Treas
ury under the original credits to
"foreign governments engaged In war
With the enemies of the United States.
The status of the unexpended bal
ances, or credits upon which other
governments may draw Is as fol
lows:
France, $50, 100000; Czecho -slovak
republic, $6,O72 900: Greece, $685.
900: Italy, $34,921.0OO; Liberia, $4,-
974.OOO.
The Greek governments effort to
obtain the balance of the original
credits established to support the new
regime. develops that Greece already
has obtained $15.OOO.0OO under the
( S4S, 100000 set up by earlier legisla-
ton.
favor of Greece originally were es-
, tablished pursuant to an agreement
nf a special character, made early In
1918, by the United States, France,
and Great Britain. Under this "spe-
cial agreement" the three govern
srnents undertook to lend to Greece for
specified purposes" in equal shares
df their respective currencies, up to
an equivalent of 250,OOO, 900 francs
each.
,Officials declared today that further
advances, which the Treasury ex-
pected would be made to Greece.
would not exceed s2s.9oo.ooo: The
advance, however, would be limited,
it was, said. Fby the purposes embod-
led wAthfn the agreement between
this Government and Great Britain
and France The Senate Judiciary
Committee later probably will go
more fully into the scope Of the "pur-
poses'' enumerated by the agreement,
which Is still in force.
ITALY HAS CREDIT.
Data on the status Of other credits,
.unexpended, revealed that the bal
ance of tho credit in favor OF the
Italian government, Of $34.O0O,00O, is
for the purpose Of "enabling Italy to
make certain reimbursements In dol
lars to the British government"
Treasury officials estimated these re-
endorsements probably would amount
to nearly $17,OO0,0 900. There Is the
further proviso in the existing agree
ments. it was said, that the British
government has agreed to pay to the
United States, the sum in reimburse
1nents 1t may receive from italy, to
be applied to obligations now held
by this Government.
The French governments credit
may be further drawn upon to the
extent Of at least $21 100000. under
plans at present, to accomplish the
purposes for which the balance in
favor of France was arranged" It
was said to be entirely possible that
france might exhaust the entire
credit by unforeseen needs
The credit remaining in favor of
the Czecho-Slovak Republic probably
Will be called for within a short time
for the purpose of assisting that
government in repatriating it's
troops from Siberia 1t is also ex-
pected that Liberia may practically
exhaust the credits set up in it's
favor.