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Show SECOND ENORMOUS LOAN BY U. S. TO ALLIES PROPOSED Washington, July 16. Unless the unforscon develops, Congress probably prob-ably will bo asked before adjournment adjourn-ment ot tho present session to authorize auth-orize another gigantic loan to tho allies. Tho present authorization of $3,000,000,000 will be exhausted within from three to four months, at tlje rato at which the government is lending money to entente governments. govern-ments. Indications are that tho amount ot the second authorization will be no loss than the first and may go a high as $5,000,000,000. There is every reason to believe that the administration policy of financing fin-ancing the allied governments for purchases they make in this country coun-try will bo continued during the period of tho war and that future loans will bo made as In the past, at the samo rate of Interest tho American government will havo to pay , and on tho security of entente government bonds to bo deposited In tho treasury. It Is pointed out that nearly ono-half ono-half ot tho $3,000,000,000 already has been exhausted. Should tho loans during the next three month? bo at tho same rato as during tho past three months, tho enttro $3,- 1 000,000,000 will bo exhausted by Oc- tober 23. 1 During the first threo month3 tho n rate of lending has been upproxl- J! mately $500,000,000 a month. Ex- ' tended, it would mean an annual loan of $6,000,000,000 abroad, all the. funds, ot course, being spent in this country for foodstuffs, munitions and other supplies. Estimated costs to tho American government for Its military and naval nav-al establishment during tho first year ot war were placed at approximately $4,000,000,000 soon after the war wa3 declared. I The totals ot these two items, tt I is believed, was tho figure Socretaw, 'tp McAdoo had in mind when he asr-i clared in his recent speeches on behalf be-half of the Liberty loan that tho government would be called upon to raise $10,000,000,000 during the first year of war. |