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Show How To Become A Creditor In Two Strenuous Lessons ;Jn 19i4, according to statisti-i statisti-i t t ltudy such Questions, the United States was a debtor to the world by more than three and a half billion dollars. At the end of 1947, according to authoritative author-itative estimates, the United btatcs is a net owner to the extent ex-tent of ten billion, four hundred million dollars, a lot of it old credit. Figures reveal that-private individuals, in-dividuals, or interests, in this country, own about $16,400,000,-000 $16,400,000,-000 worth of foreign assets and that the United States government govern-ment has live debt claims against foreign countries which total about eight billion dollars. From this total must be deducted the holdings of foreign private interests in-terests in the United States which it is estimated, aggregate $14,-000,000,000. $14,-000,000,000. The average American must understand that, prior to World War I, the United States had to pay interest on its net debt in the form of goods and services o.r money shipped abroad. Now, since the position has been re versed, foreign countries must pay us interest on the net balance bal-ance of their indebtedness and the only way they can pay this debt, together with its carrying charges, is through the sales of goods and services to us or by the shipment of gold into the United States. With the United States own-in own-in g most of the gold of the world it is obviously impossible ior foreigners to ship enough gold into the United States to takr care of existing indebtedness Consequently, if the United States expects to receive in terest and payments on princi-, pal. it will be necessary for the people of this country to accept goods and" services from the peoplas of other lands. |