Evening journal., 1921-12-30

Are you going to make any?"
sked Ruth. She was talking to
/ ack about New Year Resolutions.
II sure am" answered Jack. Il am
sing to help mother more than 1
|d, last year"
II know what one Of my resolu-
ons will be-rm going to tease
ncle Ted for more stories than
fver before" replied Ruth.
"Oh, you are. are you?" called
\ Uncle Ted from the next room.
|Didn't know / was here, did your"
| MOL didn't. Uncle Ted" said
Ruth, running into the next room,
|Sith Jack right at her heels. please
Ten us a story now. We've played
Filth all our Christmas toys and all
lhe games we know. Mother won't
IT us go outside again this oven
|lg."
Speaking OF New Years resolu-
Hons" began Uncle Ted. reminds
ne OF a resolution Congress and the
Republican Administration have
AIKEN in Washington. You have
beard me speak before Of the big
! ebt owed the United states by q
Oxen countries Of Europe. It
Imounts to something over ten bill
Ions Of dollars. and on practically
n Of IL not dollar OF interest has
|'een paid for over two and a half
Pears. II we add the interest mat
Is now due US, the total would reach
10 eleven and a quarter billions.
ID. -.
while he was running for election
hat he would do everything in his
bower 20 secure the repayment to
|iur treasury Of that huge amount.
n his address TO Congress on De-
MEMBER 6. he laid stress on the mat
fer, and asked Congress TO grant him
In necessary authority TO make
greements with the debtor coun-
ries for the payment Of interest and
he principal. A bill has been intro
|luced. and will become a law very
oon. that creates what Is known as
he foreign debt refunding commits
lion. The Secretary Of the Treasury
|yill be its chairman and will direct
Is activities.
"I speak Of all this as a New
Il fears resolution on the part Of the
Government, and really Il is just that
4 or the New Year will mark the first
ffective efforts on the part Of our
|lficiais at Washington to bring that
money back home. For two years
Hitter the close Of the war the VIII
ion Administration did not think Il
worth while 10 safeguard those
oans. and the pressing necessity OF
making immediate changes in the
/ Internal tax laws did not give oppor-
unity 10 the Harding Administration
o take up the matter In the special
session OF Congress last summer.
<3ut now the collection OF those debts
|Vill be taken up in earnest ana not
. but aside until very definite ar
|.anrements have been made with
he debtor nations for the payment
u what they owe
Freddie says his father told him'
broke in Jack. "thst. although Con-
sress told President Wilson 10 loan
money TO those countries that were
with US in the wal. against Germany
Ine turned over hundreds OF millions
of dollars TO nations that were moi
iheard Of during the war and even
oaned about a billion and a half dol
1iars after the war had come TO an
lend. Is that so, Uncle Tedg'
yes. that is all very true re-
{plled Uncle Ted. All Of those facts
came TO light during the hearings
on the foreign loan held before th'
Judiciary Committee. Of the senate
INot only that. but there were man,
|other things done by Secretary OF
The Treasury McAdoo and his sue
|cessor. Mr.. Glass. that were not au'
|thorized by law and were contrary
o the most simple business practices
Just let me tell you some Of th'
{facts discovered by the committee
,Referring to what you just asked me
let me read this from memorandum
|prepared for the committee:
4 "'Approximately Sl,5OO,ooO'oo'
was loaned 10 foreign government
1after all hostilities ceased. Thi
money was raised from the Ameri
lean people by Liberty Loan driVe
and taxation and was authorized q
+ be used for the purpose Of the prose
lcution Of the war and loaned 10 gov
lernments then engaged in war VIII
enemies Of the United states. Trea
sury officials were aware Of the fac
fthat they had no authority TO max
such loans after hostilities ha'
1ceased.'
"Ohcial letters are on file with III
judiciary Committee that prove tina
statement. and show that Mr.. Nc
Adoo and his subordinates in tn
Treasury deliberately violated tn
law Of Congress and used tn
\ peoples money in a way for whicl