Show EUROPE MUST EARN EARN EARNON OWN ON MONEY NOW NON U. U S. S TIRED Parade P Past st Treasury With Sa Sacks ks in Hand Vain in Future f By George B. B Waters i rJ 1 r N Nv E. E A. A Washington Bureau t ot ASHI Feb 7 ThA 7 pol pol- 1 icy cy of the United States government Is In to make no more loans to European governments except pt In case of absolute ab- ab i solute necessity to save humans from starvation I From April 24 1917 to November November-I 15 1919 the United States advanced to Belgium Cuba Czecho Czecho France Great Britain Greece Italy Liberia Rumania Russia and Serbia an aggregate te of 55 Of this was loaned since the armistice was signed By 1 various a acts ts congress has aut authorized the treasury to loan the European governments for war purposes The treasury cannot go above that amount The War Finance corporation empowered empowered empowered em em- powered the treasury to loan for purposes Of the there is still an unexpended balance of ot 45 But the United States is going to do the equivalent of loaning t to these governments for the next two or three years This will be done by funding the interest or adding it to to their debts to us instead of collecting collecting col col- it These were demand demandy y t loans with 5 per cent interest The United States could now demand 4 payment nt of them immediately but It 1 couldn't collect as the governments i pay p pay y So o t the e plan s 's t to co cons con con- fj s i i- i 7 I vert them into long time loans none running longer than Octo October er 15 1938 Europe could not only not pay the I pr principal but tut ut it would take on one half half her gold to pay one years year's Interest To collect either the Interest or or principal principal prin prin- principal cipal now before Europe starts producing producing producing pro pro- would cripple her so she might not be able to get on her feet at all |