Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-09-12

N"dculue JOu, ~. O.s ScP"
all the allied governments to which the
United States advanced funds during
the war have appointed special com
missions to meet the Foreign Debt
Funding commission, of which Secre-
tary of the Treasury Mellon is chair
man, with a view to placing TINS IN
debtedness on a permanent basis. M.
Parmentier, representing the r.epupIc
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
egn loans, gives the latest figures on
all sum owing to the United states
as a result of the war and the post
armistice events. This schedule rep
resents the task to which the For
eign Debt Funding commission has
addressed itself and indicates the
great extent of the burden which
rests upon the allies to arrange pay
ment.
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
invisibl eaid which the American
people gave the allied cause during the
war, in addition to the visible assist
ance 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 heads the list of
debtors. She borrowed S4,135,S1S,35S;
she has paid S250,132,1S5 III interest.
but total accrued interest amounts to
S611 ,044 ,201, bringing the total debt
due to $4,746,S 49,, $50. Great Britain
used these funds in the United States
buying arms and food, agricultural and
manufacturing implements, and a great
variety of other goods necessary. TO
the prosecution of the war. She lent
other allies about $4,000, 100000, so
that all the money she borrowed from
the United States amounted to only
about half her advances.
France borrowed S3,340,S57, 593; she
has paid interest of S110,3O4,49O; total
accrued interest is $430,049,O62 and
the net debt now due is S3,770,9O6,6 500.
Practically all of this loan was spent
in this country for munitions and sup
plies.
Italy Our Third Debtor
Italy stands third. She borrowed
81. $50: she has paid ST.
59S.S52: total accrued interest is
S243. 4S0, 1888, and net debt, $1,S91.-
514,634. She used her money for
munitions and supplies and to stabil.
ize her exchange with the United
States.
Belgium borrowed S377,123,745; she
has repaid $14,609,062: total ac-
and net debt, $42S,515,7 1888. Belgium
bought munitions and supplies in the
United States.
Russia, before the fall of the czarist
government which was our ally, Dor
rowed 1892, col ,297; she paid interest
amounting to $~7,717.333; accrued in
terest is S35,019.427 and net debt,
$227, $40, 724. > All Russia's expendi-
| lures were for munitions and supplies
in the United States. The status of
this loan is much in doubt. The exist
ing soviet government recognizes none
of the old debts. 1t is not likely Rus
STA will be recognized by the United
States until Russia acknowledges this
debt.
Sixth in the list of debtors stands
| / OldUu. Inc ibdlS 10 uPT were uihut
after the treaty because prior to that
event she was not a nation. Chiefly
they were for food and medical sup
plies. She borrowed S135, 662, S67; has
paid interest of S1.290,620; accrued in
| terest is $17,3S0, 7S5, and net debt,
S1J3, 043,6 go.
In the same class is Czecho- Slovakia,
another treaty country. She borrowed,
chiefly for food $91,SS7.6 6S; paid in
terest of S304,17S; accrued interest is
S12,797,S76, and net debt, $104,6S5,-
545.
Serbia. a belligerent ally, borrowed
sol. 1O4.59 she has paid S636.Oj9:
accrued interest is 1885, 55. and net
debt, $JS,4f1.0J1 Serbia bought mu-
nitions and supplies in the United
States and also used some of these
funds to meet the expenses of OBTAINING