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Show Foreign Doners ox InVeilmenlJ. The tecent nctlon of American capitalists capi-talists in taking ISO 000 000 of the new Ilrltlsh war bonds gives timely Interest to the srtlelo by l'rof. Wool soy, In the May r'orum. In which he discusses the risks a nil kinds of foreign bonds Ho points out Hie radical differences between be-tween goternmtfnt bunds and pflvste loans, A government bond has no collateral behind It no property on whleh the creditor may levy In rnso of default Tho security of such n loan depends upon the credit and the good faith of the stats Uiatjio Nor enn Iho bondholdetrproVee. gle-handei! against his debtor by Judicial Ju-dicial methods. Ilia only redress Is through tho diplomatic Interference of his government If he bo a small nnd unlnfluentlal holder he may bate to wait long before he can set tho governmental gov-ernmental machinery to work As a matter of fact, all government bomla of nil countries nro purchase)! out of puro patriotism nothing else. Tho bonds Hold In 'this country go to Ilrltlsh residents hero anxious to relieve re-lieve tho country to which they owo allegiance In other words, the bonds were taken by, branches of Ilrltlsh banks doing business In Iho United States. |