Salt Lake Telegram | 1921-05-25 | Page 9 | Dollars Go Abroad for Investment in Vast Stream

I DOLLARS GO ABROAD I FOR INVESTMENT I I IN VAST STREAM Two Billions Have Been Placed by Americ Americans ns in inI I Foreign Lands By RALPH FORD COUCH United Press Staff Correspondent WASHINGTON May 25 Private American investors now are grubstaking grubstaking ing foreign industry and foreign n governments governments governments gov gov- at the rate of 1 a day dav through purchase of Bonds stocks and other securities according to estimates made b by New ew York b bankers which have reached government officials here Dollars are flowing abroad in a steady stream in search of hope for forI large dividends The stream began immediately immediately im Im- im- im I mediately after the outbreak of the great war and has continued ever since I almost without break During the last twelve months approximately has been loaned to foreign borrowers borrowers borrowers bor bor- rowers despite the nationwide economic economic economic eco eco- depression in the United States DOLLARS ABROAD American dollars now are building docks and packing houses in South America municipal waterworks and tram lines in cities of Switzerland and other ther European countries elevators in Canada and factories in France rance And nd the dollars that are working abroad I are not the dollars only of American capitalists In large proportion they were invested only after having been I saved from wage and salary envelopes Through h the Edge law the foreign trade trad and banking corporations now being I organized in many parts of the country coun- coun I try every American who can save sa a dollar is being given the chance to g get t his opportunity at foreign investment rif lif if he s so o chooses CHANGE IN SITUATION At the beginning of the great war warthe warthe warthe the United States owed European in investors investors investors in- in approximately This was money which Europeans loaned during the big expansion period that began in 1890 It was represented by stocks In mines railroads and manufacturing manufacturing manufacturing man man- man man- plants It paid more than a year to the foreign owners o in interest charges es and in dividends Soon after the war Europe began to find herself badly in need of enormous credits in the United States Gradually the 2 came carne back to this country to help pay Europe's rapidly mounting debt here Soon the credit was exhausted The United States had I 1 earned enough to buy back all the forI foreign foreign for for- eign interests in domestic industry I ATTAINS VAST SUM Then the United States began to loan At first the loans loins were counted in millions mil mil- millions I lions Now Kow the total is approximately 2 or almost precisely the I amount which the United States fori formerly formerly for- for i merly owed European investors t I This rand total of ot American Investments investments investments invest Invest- ments abroad is in addition to about 13 loaned to foreign governments governments governments gov gov- by this government go in 10 worth of direct war loans and about credit on surplus surplus surplus sur sur- plus war and navy materials