Of this sum $156,400,000 in obligations have matured and been paid
off, which leaves a net debt to us of $1,919,400,000. It divides up as
follows:
Great Britain $858,400,000
France 656,200,000
Russia 167,200,000
Italy 25,000,000
Dominion of Canada 120,000,000
Canadian Provinces and Municipalities 185,000,000
Germany 20,000,000
Having taken this financial plunge into European financial waters, Uncle
Sam has got the foreign lending habit and has loaned $117,000,000 to
Latin-America, mainly to Argentina and Chili: $39,000,000 to neutral
European nations, including Switzerland, Norway, Greece and Sweden. Not
desiring to play any race favourites, he has speeded China on her way to
enlightenment to the extent of $4,000,000.
In buying foreign war bonds--a procedure which in war time naturally
involves sentiment--it is wise for the investor to watch his step.
Patriotism is all right in its place but unless you can afford to
contribute money for purely emotional reasons, a cold business estimate
of the situation is advisable. This applies especially to the man or
woman with savings who cannot afford to take chances. He or she will
find it a good rule to stick to external bonds except under exceptional
conditions.
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