The Dawson news. (Dawson, Ga.) 1889-current, 1922-07-18
. BILLION LOANED
IN PAST 18 MONTHS
.,,opMOUs AMOUNTS HAVE
npEN ADVANCED TO 9TH
I'D NATIONS OF WORLD.
II s IS FURNISHING CASH

,,:or Portion of Borrowing World
u.s Turned to This Country TOR
casb Government Keeps Informed
Regarding Credits.
WASHINGTON, D. C.-American
a;t.l in the sum of $1,345, 10S,SOO has
La.n loaned to the nations OF the
D o,Id within the last 8 months, and
y +be Governments record were COM
nlete it would probably Low that
pa.rer S2,OOo,OOO,OOO had been Dor
4 .red in the money market of the
I IGn;tod States SINCE the close OF the
"9 This Is the answer which this gov
wen, ,,ls makes to the complaint, some
Iinl,sN heard abroad, that America is
; nESS in lis duty to aid in the reha-
bi;tafion of Europe or in the promo
tion OF prosperity in the nations OF TINS
No No srch volume of internations5 Dor
.on;nq if is declared, ever has been
t To in a period of peace as has been
made made possible by the investing public
n the United States since the signing
y; the armistice. Nor is it over with.
The Government is advised that still
inrther foreign bond issues are to, be
o4erad bv the American banks.
All Turn to America. II
Reiore the war England, GaxaanS
and France were the leading Is iii Z
nat;ons Of the world and each I'd
it, foreign loans systematically to pro
mote It's foreign trade. Since the war
International borrowers have turned al
most with one accord to America tor
ready money and few OF them with
anv credit at all have been turned
down. -
Early last year the government be
came concerned over the extent 10
which foreign nations were floating Sc
curities in the American money marx
et and while it has no legal control OF
Me transactions of international bank
srs the president invited large group
ii those bankers to the white house.
Also he requested his guests to sub
NIT for examination and approval all
Droposed foreign loans before such
loans should be underwritten.
Government Keeps Informed.
This was done that the government,
which would be called upon for as
sistance if foreign debtor should de-
f4nlt. wight be fully informed regard
ing credit extended and might further
inform itself as to the purposes Tor
(which the money loaned would be
used 1t is stated in official quarters
that while the government has, not i'm
posed any restrictions upon the Dor
Powers OF American money it has en-
cOuraged the practice of expendng 1t
Dor constructive purposes.
Nor have the government or Amer1-
can bankers so far insisted that any
part OF loans negotiated by foreigners
IN this country be expended for Amer
lean goods, although there have been
repeated intimations in official circles
that soon or late some such condition
would be required.
S650,303,000 in 1921.
State department records show that
during the calendar year 1921 a grand
toal OF $650303,000 was borrowed
through American bankers by foreign
governments and corporations. OF this
amount Sl61 $4,000 went to foreign
EOrporations and $4S8, $4,000 went to
lorelgn governments, municipal, state
Fnd national.
The heavy lending to foreigners did
Pot really begin until about Is months
ago.
During the current year even greater
amounts Of American money have been
borrowed than during any earlier pc
lod The total for the six months end
r. July &c. it appears, was $7O3,O05,-
w. the greater part going to foreign
oyernmcHts, but with an increasing
mount being loaned to foreign cor
E9Tatlons. Up to March 81, for exam
93, foreign corporations had received
H. 5SSIc930O 600, as compared with $685.
fVg0JO Tor foreign governments.
Since March 81 the loans have been
luSualy large. In April, for example,
Total OF $207, 100000 was loaned,
Iore than in any previous month. In
l9y the total amounted to $34,320,O0O
0C g IN June 1t amounted to $118,775,~