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Show . :.-:-Ll.-- ' - - --i Britain's War Debt to the United States i r i 1 1 1 1 -i 1 1, but for I in- other allies, and thai 1 1 io United .-'tales, in making the original arrangements, had liislMed, In sulislanee, lliat, though tin- other allies al-lies were to use lite money borrowed, it was only on I'.ritish security the fulled Stales was prepared lo lend it. "In answer to these iruptiries." Mr. Mellon stilted, "it should be said the obligations of foreign governments in (picsiion had their origin almost entirely en-tirely in purchases made in the United Unit-ed Slates, and Ihe advances made by Ihe United States government were for the purpose of covering payments for tlie.se purchases by the allies. ''The statement Unit the United States government virtually insisted on a guarantee by the Iiritish government govern-ment of amounts advanced lo the other allies Is evidently based on a misapprehension. misap-prehension. Instead of insisting on a guarantee or nny transaction of that nature, the United States government took the position that It would make advances to each government to cover the purchases made by that government govern-ment and would not require any government gov-ernment to give obligations for advances ad-vances made to cover the purchase of any oilier government. Thus, the advances ad-vances to the llritlsh government, evidenced evi-denced by Its obligations, were made to cover Its own purchases." XJt7ASMIN;Tt).N". Funding of Ihe " V I, !:ir,HM,lM war debt owed by Croat F.rllain to the United Slates Is declared by Secretary Mellon lo have no relation to the war loans made by the United Slates anil (Ireat Itrilaln to oilier governments or to (iie.illons iiilsing in connection wlili reparations luiyinenls of the former central powers. pow-ers. The treasury secretary made tils rteclarallon In a formal statement. Issued, Is-sued, ho said, on account of numerous Inquiries reaching the treasury as to Ihe exact slalus of the obligations of Ihe various Furopean governinenls lield by Ihe United Stales with respect lo the Iiritish debt. Itcports have been published and Ntnteincnls made In some quarters, Mr. Mellon said, that the British liability was not Incurred for the I'.ritish gov- |