OCR Text |
Show It is significant that the formation of tho hundred million dollars cor-jKirntion cor-jKirntion for the financing of American Ameri-can foreign trade should have come so soon after the election which determined deter-mined finally that the United States wbuld not become n member of the leoguo of nations. International bank-crs bank-crs saw a wav, in Art X of the league covenant, for the prncMcnl guaranteeing guarantee-ing by this country of the loans which they might make to foreign members of the league. It wns their great desire de-sire for finnnciol operations in Kuro-pean Kuro-pean fields that led them to show such enthusiasm for the covenant. It is apparent that had loans, tho safety of which was niwtircd bv the American government, been made to Kuropean stnlc they would have been able to (my for American goods witlwut much dcla). Hut with the refusal of that guarantco American linkers are loath to risk their money in aueli ventures and new means had to be found to finance trnnMotions in the foreign field. |