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The Daily Journal
East Saint Louis, Saint Clair County, Illinois
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British House of Commons passes bill authorizing loan negotiated in the United States. John Dillon defends terms, attributing success to American sympathy for the Allies despite criticism of interest rates.
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John Dillon, Defending Terms, Says Success Is Due to American Sentiment for Allies.
London, Oct. 13.-The bill authorizing the loan which had been negotiated in the United States has passed all stages in the house of commons.
During the debate on the bill there was criticism of the rate of interest. John Dillon, supporting the terms, declared the success of the loan was an index of popular sentiment in America toward the allies.
"It was a business transaction, but more than that," he said, "and 6 or 7 or 8 per cent would not have succeeded in obtaining the money if it had not been for a deep wave of sympathy in America in favor of the allies. It is, therefore, a mistake to criticize the loan, to which we are now committed, as if the people of the United States had taken advantage of our necessities."
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Foreign News Details
Primary Location
London
Event Date
Oct. 13
Key Persons
Outcome
bill passed all stages in the house of commons; success attributed to american sympathy for allies
Event Details
The House of Commons passed a bill authorizing a loan negotiated in the United States. Debate included criticism of the interest rate, but John Dillon supported the terms, stating the loan's success reflected popular sentiment in America toward the allies and was more than a business transaction due to sympathy.