Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1922-05-11

IN the republic of Liberia was au-
tborized in a resolution adopted last
night by the house.
Together with seven Democratic
members of the ways and means
-mittee, Representative Charley 4.
,risp, of Americas, April 20 filed
formal minority report against the
house bill reported recently, calling
for a government loan of 100000
to the republic of Liberia. Demo-
cratic members of the ways and
means committee characterized the
proposed loan as a dangerous pre-
cedent for the government to estab-
lish, declaring that the authority of
the measure terminated with the ces-
sation of hostilities with Germany,
when credit provisions for countries
associated with the Allies were in
Guided in the Liberty loan act. Dur
ing consideration of the bill in the
committee room several Republicans
Joined Democratic members in OPP
posing it, and their opposition will be
carried to the floor of the house when
a vote is taken.
Judge Crisp, in explaining the posi-
ton of Democrats in issuing the mi
nority report, gave the following
statement:
Crisp's Statement.
Il am unalterably opposed to this
loan, and shall leave nothing undore
that can do to defeat it. l had
it defeated until Mr.. Hughes appear
ed before the committee. l do not
believe the president of the United
States or any other official, acting
beyond the authority vested in him,
can make any agreement with for
eign nations for loan of money that
will create any moral or legal obli-
cation that will require congress TO
ratify it and authorize the loan.
Personally, it is immaterial to me
whether the official responsible for
the illegal act is Democrat or a Re-
publican; / will not be bound by it.
The second Liberty loan act author
lied the extending of credit to our
Allies who were contributing to the
national security and defense, and it
was the intention of congress to fur
nish our fighting Allies money in the
hope of saving our country from
the necessity of sending more men to
serve in the conflict. We preferred
IN e e
boys.
Liberia is a little negro republic
in Africa with a population of co.
900 semi-civilized negroes and two
Dhillion uncivilized ones. They have
neither an army or navy, and in
the prosecution of the war, they did
not furnish any soldiers, munitions,
or other supplies; and in no way con-
trbuted to the prosecution of the
war. 1t is absurd to contend that
they did; therefore any commitment
under the second Liberty loan act by
the last administration was ultra
wires and not binding upon this gov
eminent. This is especially true as
the original commitment was with
conditions which were never complied
with by Liberia. The Liberty loan
act authorizing credits expressly
stated that the authority to make
these loans ceased with the conclus-
ion of the war.
After Peace.
''The president, acting pursuant to
joint resolution of congress, in July
1921, by proclamation, announced
that we were at peace with Germany,
and the present agreement for this
loan of five million dollars was not
concluded until October, 1921,
months after formal declaration of
peace and practically three years aft
er the termination of the war; Sec
rotary of State Hughes, recognizing
that he had no authority to make this
loan, came before congress urging its
legislative approval of the action of
the department. President Harding,
by letters to the committee on ways
and means, also earnestly urged that
this loan be made.
THE contract with Liberia shows
that the five million dollars was to
be loaned them, not to aid in the
prosecution of paying upon its bond
ed Indebtedness owned by interna-
tional bankers and it's floating and
bonded international indebtedness
amounting to over two and a half
million dollars. Under the contract
with Liberia, $1,650,000 of the five
millions to be paid by the United
States government to j. P. Morgan
& Co., Kuhn-Loeb & Co., the Ma
tional City Bank of New York, the
First National Bank of New York,
Robert Fleming & Co., M. W. War
burg & Co., and Hope & Co., to pay
old Liberian bonds held by them.
6233,0 is to be paid to citizens of
~Iiberia who had claims against the
government funded, and $350,000 to
be paid to Liberians for floating
debts held against the government.
All of these debts were owed prior
to the time Germany declared war