The united opinion. [volume] (Bradford, Vt.) 1881-1970, 1922-10-27

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"From the correspondence and data
available to this committee, copies OF
which are attached hereto, it APP
pears that Treasury Department off
cials of the United States were aware
of the fact that they had no legal au-
thority to continue the loaning OF
money raised by the people of the
United States by sale of Liberty
Bonds, and by taxation, to foreign
governments for the purpose OF
prosecuting the war after all hostil-
! tiles had ceased"
In support of this statement the
committee introduces formar
statement made by Secretary Nc
Adoo to the House Committee on
Ways and Means, Dec. IL, 1918, in
which he specifically asked the Con-
grees to give him authority to con-
tinue making foreign loans out OF
funds derived from sale of Liberty
Bonds. In this statement he adj
mitted that he was without such au-
thority.
Secretary McAdoo resigned and
Carter Glass, of Virginia, took his
place. Secretary Glass appeared be-
fore the House Committee on Ways
and Means Feb. Is, 1919, at which
time he renewed the request made
by Secretary McAdoo, to-wit: that
the Congress should give him power
to continue making foreign loans out
of funds derived from the sale OF
Liberty Bonds. The House Ways and
Means Committee denied this re-
quest. The authority was never
granted by the Congress. Yet, not
withstanding the fact that their
specific request was turned down, the
Treasury Department under the
Democratic administration continued
to make loans to foreign govern
ments in direct and willful violation
of all law and without the slightest
authority whatever.
Millions Loaned To Fight Us.
The documents contained in this
report show that millions of dollars
were loaned to Great Britain, after
all hostilities had ceased, for the ex-
press purpose of helping her build
up her export trade and regain her
foreign commerce. Thus, money,
raised by the American people to
prosecute the war, was loaned by the
Democratic administration to Great
Britain after the war was over to be
used by that nation in financing COM
petition against Americas foreign
trade.
The correspondence shows that the
officials of the Democratic ahminis-
tration not only knew that this was
the purpose for which Great Britain
fastened to expend this money, but
they recommended that the loans be
made in violation of the law in order
that England might expend money
for the purpose of building up her
merchant marine and developing her
export trade at the expense of the
merchant marine and export trade OF
the United States.
The correspondence shows that the
Democratic administration loaned
enormous sums to Great Britain illeg-
allv, which that nation used to OBJ
tain a worldwide monopoly in oil
and oil fields.
The correspondence shows that the
Democratic administration illegally
loaned millions to England after the
war had closed, which England re-
loaned to Belgium for purposes of re-
building Belgium, but, on the condi-
ton expressly set forth in the terms
of the loan that Belgium should use
no part of the money in making any
purchases of the United States. Thus
our own money was used against us.
The correspondence shows that,
while England was borrowing millions
of the United States through the
illegal acts of the Wilson admins
tration, she was making loans to Eu-
ropeean countries for the purpose Of
increasing her export trade and was
STIMULATING that her loans to those
countries should be given preference
in payment over any loans those
countries obtained from the United
States.
The correspondence shows that at
the time England was indebted to
this country in the sum of billions OF
dollars, and was in default on her in
terest, she presented a bill to the
Democratic administration for $780,
100000 for transporting American
troops to European battlefields, when
she had cher back to the walf,' and
that instead of crediting this bill to
her interest account the Democratic
administration paid her the 100000
900 in cold gold.
Asks Credit, Keeps Gold.
The correspondence further shows
that England bought food supplies in
this country upon credit extended her
illegally by the Democratic admins
tration; that she in turn sold these
food supplies to European countries
for gold and placed the gold in the
English treasury, and then asked the
United States government to permit
her to continue to default in the
payment of her interest on her loans
to this country.
The correspondence shows that the
Democratic administration made IL
legal loans to European countries out
of money obtained from the sale OF
Liberty Bonds not for the purpose OF
prosecuting the war, not even for the
purpose of rebuilding devastated
regions but for the sole purpose of in
creasinp the political influence of the