The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-09-12
TOPEKA STATE JOURNAL
Information, Bureau
EzEDERxo J. HAsKN, Darectsr.
Washington. D. O.
WHAT THE WORLD OWES Us.

| the United States advanced funds dur
ing the war have appointed special
| commissions to meet the foreign debt
| funding commission. of which Secre-
| tary of the Treasury Mellon is chair
man. with view of placing this in
debtedness on a permanent basis. M.
| Parmentier. representing the republic
| of France, already has been in this
country and has started negotiations.
The British mission is due this month
and others will follow shortly.
A survey of precisely what the debt
situation is, therefore, is in order.
| Eliot Wadsworth, assistant secre-
| tary of the treasury in charge Of for
! eign loans, gives the latest figures on
| all sums owing to the United States as
result of the war and the post
arfnistice events. This schedule repre-
| sents the task to which the foreign
debt funding commission has ad-
dressed itself and indicates the great
extent of the burden which rests upon
the allies to arrange payment.
Twenty-seven nations signed the
| treaty of Versailles which officially
terminated the European war. The
| United States has made loans to 20
nations This is an indication of the
| invisible aid which the American
people gave the allied cause during
| the war, in addition to the visible as
sistance of men, munitions and food.
A survey of what was advanced,
what II was ub0O ADTs anu WfAL HAS
been repaid, should be OF interest and
value.
Great Britain heads the list of
debtors. She borrowed $4.135, 3d.
S5S; she has paid $3.50, 1921 in in
| terest but total accrued interest
amounts to s611,044.2Q1. bringing the
! total debt due to S4.74e.s62,5 $50. Great
Britain used these funds in the United
States buying arms and food. agri-
cultural and manufacturing imple-
ments, and q great variety of other
goods necessary to the prosecution of
the war She lent other Allies about
i $9,000.900,00O, so that all the money
she borrowed from the United States
amounted to only about half her sad-
tvances.
France borrowed $3,340, s57, SOS;
| she has paid interest OF $170, 304, 400;
total accrued interest is s4S0, 04s,062
and the net debt now due is $S.77O,-
| 906,655. Practically all of this loan
was spent in this country for NUM-
| lions and supplies.
| Italy stands third. She borrowed
| $1,64s. $50; she has paid $685.
! S52; total accrued interest is $243,-
4S0,58 and net debt, 1881, 514.
She used her money for munitions
| and supplies and to stabilize her ex-
change with the United States.
Belgium borrowed s377,123,745; she
has repaid s14,609,062; total accrued
interest amounts to s51,ss1,ss7 and
net debt, s42s, 515,733. Belgium
bought munitions and supplies in the
United States.
Russia, before the fall of the Gar
list government, which was our ally,
borrowed $192,601,297; she paid in
terest amounting to $7,717,333; ac-
crued interest is $35,019,427 and net
debt, sz27, SCOTIA. All Russfa's ex-
penditures were for munitions and
supplies in the United States. The
status of this loan is much in doubt.
The existing soviet government recogz
nizes none of the old debts. 1t is not
likely Russia will be recognized by
the United States until Russia acs
knokledges this debt.
Sixth in the list of debtors stands
Poland. The loans to her were made
after the treaty because prior to that
event she was not q nation. Chiefly
they were for food and medical sup
plies. She borrowed S135,662,S67 has
paid interest of 1880, $40: accrued
interest is $l7.3S0,7s5 and net debt,
$155,04S,652.
In the same class is Czecho-
Slovakia, another treaty country. She
borrowed, chiefly for food, $s1.sS7,-
66S; paid interest of $304,17s; ac-
crued interest is $f2,797,S76 and net
debt, $104,6S5,545.
Serbia, a belligerant ally, borrowed
51,104,595; she has paid $6S6,059;
accrued interest is $7.336.455 and a
net debt S5S441051.7 Serbia bought
munitions and supplies in the United
States and also used some of these
funds to meet the expenses of detain-
ing German and Austrian prisoners
intrusted to her custoday.
Rumania borrowed $36,12S.4s4; she
has paid $263,s1S; accrued interest is
S5,283,95S and net debt, SAL, 412. 453.
Rumania bought American supplies
| and, at times, urgently needed his
financial assistance to pay her army.
Austria borrowed s24.055, 70s wholly
| for emergency food relief after the
armistice, She has paid no interest
| the net debt, $26,220.T22.
The Smaller Loans.
Greece borrowed SIS 900. 900; she
| has repaid $1,15e.15S; accrued inter-
est amounts to s375,00e and net debt,
| $15,375,000. This money was used
| largely by Greece to stabilize her own
currency. Much Of 1t was retained in
| the United States on deposit in gold,
as a currency reserve for Greek cir
4 culating notes.
Esthonia. another treaty country,
borrowed $13,99s,145 after the armi-
stice. She has paid no interest and $2.-
oS9.625 has accrued bringing the net
debt to $16,0ss,771. This was a food
loan to a large extent
Armenia borrowed $11,959,917 for
food relief. She has paid no Interest
and $1.6e7,3 5s has accrued bringing
the debt to $13,637.174.
Finland, a treaty country, formerly
part of Russia, borrowed 1921, 926
| for rehabilitation. No interest has
| been paid and $1,ol2.4Se has accrued
bringing the net debt to s9,2s4,362
Cuba borrowed s7,74o,5o0 during
the war to assist in the military pre-
paredness. She has kept her interest
paid up to date.
Latvia, treaty country. borrowed
$5,132.2S7 for rehabilitation. She has
paid $126,266 in interest but $643.-
576 has accrued bringing the net debt
to $5,775.S64.
Lithuania is a debtor of the same
class who borrowed $4,ss1. 62s; has
paid no interest. although $74T.24f
has accrued, bringing the net debt to
$5,72s,s72.
Hungary borrowed s1.ss5,sS5 as an
emergency feod loan after the war
Interest TO the extent of $202. 500 has
accrued. none having been paid. SO the
n <%k ~ a.