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Show AMERICAN JAPANESE LOAN. I Baron Kentaro Kaneko in World's Work. gives fl an account of how Japan has placed her needed fl loans for the war.. Keneko graduated from Har- fl vard university, and for years, according to his 9 statements, he besought his own government to j fl look to the United States in case it ever became J; jfl necessary to borrow money. This was unheeded, ill the argument being that as yet the United States ill was still under a stage of development and ! Sfl needed all its money for its own enterprises. I That argument was emphasized by London j jfl financiers who assured the Japanese that the 18 United States, while very rich in resources,-was jfl still, developing those resources and had ho , 1 fl money for outside investment. When the first ! jfl loan for the war of $50,000,000 was needed, a ! fl British syndicate at once made arrangements to (9 supply the money, but the agent of an American j 9 syndicate asked that half the loan be supplied by 9 the United States. The Japanese were willing but 1 ' 'fl the agents of the British syndicate told them ,fl plainly that we should have to come back to them t fl to. furnish the money if we assigned any large part , fl of the loan to the American bankers, and they fl added very courteously, that they would make fl provision to have the money ready when we . fl came. But we assigned $25,000,000 of the $50,000,- fl 000 to the New York syndicate. It was im- J fl mediately subscribed and the subscriptions I fl amounted to $100,000,000 more than the bonds." ' 9 Later $60,000,000 more was wanted, and then fl $75,000,000, but the United States took one-half, ( , ; ' fl and the subscriptions were for $525,000,000 though jfl only $75,000,000 were offered. ' fl The transactions fixed the status of the United 9 States as a world financial power and it was a '! 9 greater astonishment to England than to Japan. i ! 9 The loans supply an additional guarantee of peace j fl to our country, for money is the second vital ' j 9 force in carrying on wars, and when $500,000,000 9 is subscribed to a $75,000,000 loan the world sees ; ! ' fl at a glance what it would be to fight the United 9 States. ) 19 |