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Show CANCELLATION OF LOANS Washington. Jan. 23 The funding of the foreign loans which total in round numbers 510,590.00 0.000 would benefit directly every person and every family in the United States oy reducing the expenses of the U. S. Treasurery $500,000,000, a year, which in turn would be reflected in lowered federal taxes. The $500,000, 000 represents the amount of interest inter-est which is due upon the foreign war loans debt, none of which is now being paid and will not be paid until un-til some final arrangements have been made for the unfounded debt been made for the funding of the loans. As is known the unfounded debt consists of ltnns made out of money obtained from the sale of Liberty bonds. The United States government govern-ment is paying interest on the outstanding out-standing Liberty bonds at the rate of more than $9ii0.ono.0i)il a year. If the foreign nations were to pay the ; interest on their debts, it would.take j care of more than half of the inter-j est which the United States govern-j ment has to pay. j It is not generally appreciated that the largest single item of expense in the United States government is the item of interest charges. It costs the ! government more than ?9.00 cachj year for every man woman and child ! in. the United States to meet the in-j terest on its debts. If more than half! of this, or $5.00. for every man wo-j i man and child were to be obtained I from foreign governments, it can' j readily be seen that the expenses of: jour government would be according-' i ly reduced. ! ; It should be kept in mind that the! cancellation of any of the foreign I 'debts by the United States does not, I mean the debt is wiped out. It mere-! ! ly means the foreign nation which j ! borrowed the money out of the pro- i ! ceeds of Liberty bond sales will not I i pay the money borrowed or the in-! j terest on the money borrowed. In j Uhat event the American people must ! j be taxed to pay the principal and io-j i terest. J I In other words, the cancellation of j foreign war loans means simply the i transference of the payments of those i loans from the shoulders of the tax-1 payers of Europe to the shoulders of j j the taxpayers of the United States. i |