AMERICAN ITEMS.

Hokitika Guardian, 25 May 1921, Page 2

AMERICAN ITEMS.

VUSTRALIAN AND N.Z. CABLE ASSOCIATION. NEW FRENCH LOAN. HUNDRED MILLION DOLLARS. NEW YORK, May 23. The J. flL\ Morgan Cojv announce they are heading a syndicate to underwrite a French Government loan issue of a hundred million dollars at 7\ per cent. They are to he twenty year external bonds. They will be offered at 95, and the interest will be -yielding over 8 per cent..per annum. It is subject to a redemption prior to maturity. The proceeds will be for discharging France's obligations to the United States, and for the purchase of foodstuffs and materials. AMERICAN FINANCE. APPEAL TO CAPITALISTS. WASHINGTON, May 24. The United States Cabinet lias reachel an important decision to-day on the lorcign loan situation. In an endeavour to improve American industry, moral influence will be brought to bear .;ii the banking interests for the proceeds of foreign loans to b e employed to stimulate the United States export and industry. Loans made during the war will not he affected. The Cabinet issued a statement that it is hoped by the administration that the interests which float foreign loans, such as the French loan of 100,009,009 dollars, which it is reported will be offered to investors early next week, will see that as much of this money as possible is retained in the United States, either for the purchase of American commodities for export, or for the redemption of loans maturing at early dates. The United States administration is anxious that money should not lie exported to develop foreign industries at the expense of the United States. There are 500,000,000 dollars outstanding, and foreigners are seeking flotation of many more millions. It is hinted that® the Government would exert pressure if a German bond sale were attempted, hut.it is understood that hankers are willing to co-operate.

AMERICA AND ALLIES. WASHINGTON, May 24. Colonel Harvey’s status at the Supremo Council was amplified in an official statement last night. He will not depart from the attitude of observation, unless events develop threatening the world’s peace, or to jeopardise the Unitd States interests. It is distinctly affirmed that he will not be involved in European matters. Colonel Harvey would act. should the Silesian situation threaten an Anglo-French breach, hut so far that is solely a boundary question. WAR AND CONSPIRACY. WASHINGTON, May 23. A new member of the U.S. House of Representatives, Mr Michaelson, of Chicago, has revived the charges that the J. P. Morgan money firm interests bought up the United States Press for British propaganda during the war. Mr Michaelson demands an investigation. He terms the affair a conspiracy. He also demands an inquiry into the statements made by M. Hanotaux, the former French Minister of War, and by Sir Gilbert Parker. ' Mr Mjphaelson charges M. Hanotnux with having stated that the French were ready for peace in 1914, hut the organ interests and Myron T. Herrick (United States Ambassador in France till December,) and W. G. Sharp' (who succeeded Herrick as Ambassador in Paris) dissuaded M. Hanotaux from this view, and promised to initiate a campaign to bring the United States into the conflict.

Representative Calloway (Texas) in 1947 charged the Morgan firm with securing twelve men to form a plan to secure control of 179 newspapers, -but they found 25 sufficient for British propaganda purposes.

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