New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-06-24
Senate Gets
Allied Debt
Refund Bill
tccntInasa from nna. a.,

--------------.--------- - 49, ossl
tions due and the claims of oar -
eminent which are awaiting all. a.
ment." s's'
a similar letter was sest BY Il.
President to Chairman Ferdney IL .. .ss
Ways and Means Committee. -
Total debts by countries. 3, s...
in the statements accompanying &.
rotary Melons letter. we're - :.
lows: W
Great Britain, $4,16s,S18.s5s: r,.a
Belgium, s375 2so. Il7; r s'ssa'St s, ss9:
60l,297; Poland, $1S5,sel, s5s: ca sssz''
Slovakia, $91,179,5 27; Serbia 81 ze ,is
159; Rumania, s58,128, 494; A n,.s;.
$24,o55,708 (for relief; Gre.ra 9 sils
100000; Esthonia, s13,9e9, Id: ,c sdo,-
Ss,025,500; Armenia, $11.959 .917. pa
land, $8,281 1928; Latvia, s. 10 5de a-
Lithuania, S4,9S1, s27; Hungary 4 -T, scs
835, and Liberia, $26, 600. S~'''0'-
Advances under the Liberty Ioar !.
Guided: Great Britain, $4,l66.sIS s5 ,9'
FRANCE, S2,950,762 1913; Italy. 81 sss
034,050; Belgium, SS47 ,6Sf ,56s: Pn ,s.9.'
$l87, 729, 100; Czecho-Sloyakia sst SssA'
POS; Serbia, s26,175, 139; Rumania- So eos
205,S15; Greece, SIS, 100000; Cubs 20
025,0e0r and Liberia, $4,000. s'''
Obligations received OH aeconnt :,
sales o. surplus war materiel inel,S
ed: France, 100000, 600; Poland cd
636,22o; Belgium, $27, 1856, 5s1; Serb;a
Croats and Slovenes, s24 .sTS o rss,
Czeeho-Slovakia, 500, 1921 ,9g4; R7,msr,.'
S12,922,6 SIS; Esthonia, $40. 2f9 s55,,
Lithuania, s4,159,491; Latvia, s252i ssa,
and Russia, S406,092. -'s'''
Obligations held by the Grain c,s
poration included: Poland, s24.35a son.
Austria, $24,055, 708; Armenia. "a co. ,
sos; Czecho-Slovakia, S2.873 ,e38 "a
Hungary, $1,695, 1915. s'S
Obligations received from the A,.r
lean Relief Administration inel,dsa.
Poland, s51,671, TAG; Finland. sS.ssi.
926; Armenia, S8,028,412; Czecho.elo.
vakia, 1923 ,0S9; Latvia, s2.6I0lfT
Russia, $4,465 ,465; Esthonia, 81 .7s5 Ts7
and Lithuania, $S22,136.
Total Debt~s1O,141, 2e7ss5
Secretary Mellon summarizes tbs
foreign debt as follows:
Obligations Cor advances made unas,
the various Liberty bond acts, seek.
225, 1924.
Obligations received from the Amsr,.
can relief administration, ss4O9s.
63.35.
Obligations received from the Secre.
nary of War and from the Secretary Of
1le Navy on account of the sale Of sur.
plue war material, 1858 ,048,4l3s0.
Obligations held by the United States
Grain Corporation, S56, 1885,, s7s .0g.
Total, S10,141, 267 1868.
Mr.. Mellon also says:
in some cases the debtor nations
owe large amounts to other countries
as we'll as to the United States. and Il
may be advisable. and in some cases. in.
deed, necessary, to consider comprehen-
sively the entirA debt of such countries
its financial condition and resources. 50
as to work out refunding plan reason
ably within the ability of such country
to carry out.
I'm the case of some of the debtor
countries it is impossible for them 10
make payment Of their obligations as
they now mature. 1t is impossible for
some of them to make payment Of The
maturing interest. To insist on pay
ment might be disastrous to the peo-
Piles of such countries; and besides,
there may have to be given considers
ton to the bearing of the adverse for
elgn exchange rates existing at the
time against these debtor countries
and which may make it desirable to
defer payment of interest.
"Under the circumstances I have
briefly referred to, it is, | think, clear
that by reason of the lack of any
authority as to part of these foreign
obligations and the restrictions upon
the existing authority as to the others,
it is impossible in any refunding, I'M
der. the varying conditions that exist,
to deal fairly with the debtor countries
and at the same time protect the in
terests of this country. To do this it
is essential that the department have
full authority"
Senator Penrose after introducing the
bill said in an interview that he regard
Cd the measure as very broad one and
che that would cure situation, as 70
which there has been much misrepre-
sentation and misunderstanding. He
said the impression should be removed
that these debts would not be paid.