Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-09-14
Payment of Loans Due u, S,
Is 'ProbIem-TotaI Ameri-
can Lendings More Than
Ten Billion
BY FREDERIC j. HAsKIN

II Vs
WASHINGTON, Sept. 12.-Almost
all the allied governments to which
the United States advanced funds
during the war have appointed spe-
cial commissions to meet the foreign
debt funding commission, of which
Secretary of the Treasury Mellon is
chairman. with q view to placing
this indebtedness on a permanent
basis. M Parmentier. representing
the Republic of France, already has
been in this country and has start
ed negotiations. The British mis-
sion 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
foreign loans, gives the latest fig
ures on all sums owing to the Unit
ed States as result of the war
and the post-armistice events. This
schedule represents the task to which
the foreign debt funding commission
has addressed 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 70
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
assistance of men, munitions and
food. -
A survey Of what was advanced,
what it was used for, and what has
been repaid, should be of interest
and value.
Great Britain First
Great Britain heads the list OF
| debtors. She borrowed $4,135,S $751;
35S; she has paid $3.50, 132,1S5 in in
terest, but total accrued interest &C.
counts to $611, OLA, POI, bringing the
total debt due to $4,746, S62,560. Great
Britain used these funds in the
United States buying arms ana
food, agricultural and manufactur-
ing implements and a great variety
of other goods necessary to the
prosecution of the war. She lent
other allies about $9,0OO,O O0,OO0, SO
that all the money she borrowed
from the United States amounted to
only about half her advances.
France borrowed $3,34O,S57 500;
she has paid interest of $17O, 3O4. 490;
total accrued interest is $430, ,062
and the net debt now due is $3,770,-
9O6,6 Practically all Of this loan
was spent in this country for NUM-
tions and SUPPLIES. i.
Italy stands third. She borrowed
81 GAS, 034,050; she has paid $57, 498'-
S52: total accrued interest is $243,-
3SO,5S3 and net debt, 1881, 514 1874.
She used her money for munitions
and supplies and to stabilize her ex-
change with the United States.
Belgium borrowed $377, 123, 745;
she has repaid $14,609,062; total ac-
crued interest amounts to $51,391,-
9S7 and net debt, $42s,515,733. Bel
GUM bought munitions and supplies
in the United States.
Russia, before the fall of the
| government which was our ally, Dor
rowed s192, sol, 297; she paid interest
amounting to $7,717,333: accrued in
T6r9SL IS 9o0,UlJ,fAI anu 1ASS NASOH'
1927, 62O,724. All Russia's expendi-
lures were for munitions and sup
plies in the United States. The
status of this loan is much in doubt
The existing soviet government rec
ognizes none of the old debt. 1t is
not likely Russia will be recognized
by the United States until Russia
Acknowledges this debt.
Poland Sixth
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 nation
Chiefly they were for food and med
ical supplies. She borrowed $780,
662,S67; has paid interest of $3.50
| $40; accrued interest is $l7,38O,7S5
and net debt, $153, O43,6 52.
In the same class is Czecho-Slo'
| vakia, another treaty country. She
| borrowed, chiefly for food, S91,SS7, =
| 66S; paid interest of $304,17S; accrued
interest is S12,797,S67 and net debt,
| $104, 685,545.
Serbia, belligerant ally, borrow
ed $51, 104,595; she has paid $636,O59;
accrued interest is $7,336,455 and a
| net debt, $58,441 ,051. Serbia bought
munitions and supplies IN the Unit.
ed States and also used some Of