Evening star., 1925-02-16

I noted, America was pressing her war
| policy and the end of the struggle
was neither in sight nor definitely
| thought of =,
The entire national effort was be
| ing strained, in every direction that
| seemed to offer advantage. to bring
Germany to her knees. One Of the
| obvious ways to victory was the
| financial strengthening of the allies.
So Congress voted, with single
! thought, to give such strength un-
| stintingly. The thing uppermost in
the minds of members of both House
| and Senate, the record of debate dis
closes, was the prosecution Of the
war. e.
There appears no reference in the
debate, so far as can be found by a
cursory examination, OF strengthen
ing the allies financially on their way
back to peace Congress probably
| would have granted specifically the
| authority which II clearly granted
| by Implication. had it occurred to
the leaders to do so.
More Cash Advances.
In January, 1919, the American Gov
| ernment made two more cash advances
| to France. the total running TO ss1.05o-
600, In February we lent France an ad-
ditionaI $50, 900 in three loans. 1t
was not until March, 1919. however, that
Frances representative began TO make
frequent pilgrimages to the Treasury.
At that time, it will be recalled the
war was becoming a memory. The ar
| mistice had been signed four. months
before American troops had already be-
| gun their return. and American Industry
was feeling the burden Of the peak of
taxation. 4 LE
In March, 1919, France sent her rep
| resentatiye to the American Treasury
10 times. The smallest sum, he asked
7 for was $4,000. 600. the largest Is SS5, ,000,
900. Here 10 the record Of French bor-
| rowings in March, 1919: March 4, slo,-
100000; 6. $4,000. 900: II. 100000
900: 13. s10.0O0.0Oo; IA. s1000O,o0o;
Is. $4,000. 600: 30, s1o.0o0.oe 25. s15.-
! 100000: 81. S10.0OO.Oo 81. ss5. 900.
The total cum lent France that month
more than four months afterst the war
had ended-was 100000. .00o, an aver
age Of more than $1,000. .oo05 a. day Co
Ing back over the record it is found that
March. 1919. recorded the high mark
of French borrowings. At no time with
in the two previous years, or since Amer
lean entry into the war, did IFrance bor-
row 20 much within single month as
she borrowed from us that month of
March, 1919, long after the war had
been brought to q successful ter1nina-
ton. 81
Loans to Other Allies.
Loans to other allies that month
totaled $60,oo0,o00 to Great Britain,
81, s,500,e00 to Italy, $20,6o6,000 TO
Belgium. $5,000,000 to Run1ania and
$s.ooo,o0o to Serbia, a total of sl7s,
l0o, 900.
In other words, France was borrow
ing from us four months after the
armistice as much as all, the other
allies put together and $40,oo0,0o0
a month additional. 8
That is a part of the French loan
as II stands on our books today. That
money, spent by France In meeting
her problems incidental to a. return
to peace, Is! included in the grand
total about which there has been
muchetalk of cancellation recently.
Clearly no part OF those millions
was spent to carry on the war. There
were other millions, too. hundreds of
them, borrowed by France in num-
erous visits to our Treasury months
later. The borrowings lasted for two
years after the armtstice was signed
They ran to almost an even $1,000
600, 900.
Details of those borrowings, and
what rs equally important, .how the
sums were. spent. Willie discussed
in subsequent articles.
Copyright 1881