OCR Text |
Show BRITISH MORTGAGES ON AMERICAN LANDS SOME, time ago the British Govern-, ment, pursuing its general policy of restricting all foreign loans by its subject, instructed British mortgage companies not to renew maturing loans upon lands in the United States. Secretary of the Treasury McAdoo took up the matter with representatives of the British Government with the result re-sult that the order of the British Government Gov-ernment has been rescinded so far as it relates to mortgages held on lands in the United States. This act shows the appreciation by the British Government Govern-ment of the financial help the American people through their Government are extending to the United States. The Americans who would have been chiefly affected by the rescinded British Brit-ish order were southern planters who are extensive borrowers from British mortgage companies, it being estimated that possibly a hundred million dollars .of British money is loaned out on mortgages mort-gages on southern lands. |