Forthe moment the most important proof of America's desire to
co-operate with the Allies is to be found in the Americas_ of the £1,000,000,000 Loan authorized on Tuesday night by the Ways and Means Committee of the House of Representatives, which has empowered theTresident to make leans of 1600,006,00 to the Allies, as he may decide. In officially .annolancing.the pro- posed. financial programme Mr. McAdoo observed .that the most serviceable thing the United States could do immediately for the common cause is " to furnish credits to those. foreign Governments who, in conjunction with us, are fighting. Germany. This financial aid ought to be extended at the earliest possible moment. It will be trebly valuable and effective if extended now." Mr. McAdoo predicted that the amount would be overwhelmingly over-subscribed. The bonds, including the loan to the Allies, are to carry 34- per cent. interest. We may note that Labour, through Mr. Gompers, has pledged itself against strikes and disturbances during the war.
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