U.S. CAPITAL IN EUROPE.

Auckland Star, Volume LIV, Issue 149, 25 June 1923, Page 7

U.S. CAPITAL IN EUROPE.

■ ■ A GIGANTIC TOTAL. A Washington telegram states that American capital to the amount of 21,751,000,000 dollars has been exported to Europe since the beginning of the war, according .to an announcement by Mr. Cressinger, Comptroller of the United States currency. He summarises the contributions of the United States to financing the outside world during this period as follows: — American securities repurchased from abroad 1)3,000,000,000 American Government loans. $_0.00.,C0.,0< 0 Interest on Government loans $2,000,000,000 Commercial credits extended ___,_,_._„„.„__. abroad $3,000,000,000 Dollar securities bought from foreign countries during 1919 1020, and eight months of 1922 • ?2,C31,C00,000 Foreign money securities s S „__e i perio n _' ri ? a . 4nr^. tU . e 5G20.C0..0.0 r ia^ enCi " b .° USht . bs ' $500,000.0.0 Mr Cressinger made this statement in answer to assertions that the United states had not borne its share in the rehabilitation of the world, pointing out that whether American citizens have received securities on which the interest is reasonably certain to be paid, or other securities on which it has not been and may never be paid, or currency whose value has faded away to nothingness, it has exported wealth estimated at 21,751,000.000 dollars.