Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/60

38 October, 1914 Norway................. $ 5,000,000 March, 1915 Switzerland.............. 10,000,000 May, 1915 Argentina................ 50,000,000 July, 1915 Canada.................. 20,000,000 October, 1915 Anglo-French............. 500,000,000 October, 1915 Italy.................005 25,000,000 January, 1916 Norway................. 5,000,000 March, 1916 Canada.................. 75,000,000 June, ' 1916 Newfoundland............ 5,000,000 July, 1916 American Foreign Securi- ties Co.............005: 94,500,000 August, 1916 United Kingdom.......... 250,000,000 October, 1916 United Kingdom.......... 300,000,000 October, 1916 City of Paris............. 50,000,000 November, 1916 City of Bordeaux......... 20,000,000 November, 1916 City of Lyons............ 20,000,000 November, 1916 City of Marseilles......... 20,000,000 November, 1916 Russia...............-.-. 25,000,000 November, 1916 China.,................. 5,000,000 Total...... 00... ccc ccc cee eens $1,479,500,000

Many of the above loans were for short times only and were paid off previous to 1921.

In addition to the above there were outstanding at the end of 1916 old loans to Canada and Newfoundland to the amount of about $250,000,000. Consequently the total of the foreign obligations to us at that time was about $1,750,000,000. This does not include our holdings of Mexican bonds, to the amount of nearly $200,000,000, on which interest had already been defaulted.

In 1917-1920 we absorbed a great volume of foreign governmental securities. According to a table compiled by the Guaranty Trust Co., as given in the mono- graph by John H. Williams, ''Review of Economic Statistics,'' supplement No. 1, June, 1921, the amount of the foreign government, state and municipal loans