Moncheur, and the Prince of Udine. They told why their
countries were in the war--a familiar story whose repetition within
the halls of Congress had considerable point in that the national
legislature itself had sanctioned war on Germany for the same reasons.
American and Allied statesmen thus met on common ground in a common
cause. The numerous conferences between the various sections of the
Allied missions and American officials--beginning with that between
the President and Mr. Balfour--were councils of war. They symbolized
the joining of hands across the sea in a literal sense--across a sea
infested with German submarines, which the envoys, incidentally,
escaped both in coming and returning.

In the public ceremonials that marked their visit the leading envoys
freely and repeatedly expressed their grateful recognition to the
United States for unselfishly entering the war at last on the side
which was fighting for civilization--a disinterested action without
parallel in the history of wars, as Mr. Asquith had called it. Their
gratitude might well be taken for granted; but, like the Allies' aims
in the war, it bore repetition, because American aid was sorely
needed, and they had, in fact, come to accept as much assistance as
the United States had to give.

The immediate need was money, food, ships--all the accessories of war
outside the fighting zone. Funds for loans having become available,
the American Treasury proceeded to distribute its largesse generously.
Great Britain received $200,000,000 as the first installment of a
number of loans; France and Italy received $100,000,000 each; Serbia
got $3,000,000; Russia $175,000,000; France another $60,000,000; and
Great Britain $300,000,000 more. Further credits to the various
countries brought the amount loaned to $1,525,000,000 by the close of
July, 1917, or more than half of the $3,000,000,000 sanctioned by
Congress for financing the Allies.

By these transactions the United States Government displaced the
banking firm of J. P. Morgan & Co., who had been acting as fiscal
agent for the Allies since they began to purchase huge supplies in
America on American credits.

Great Britain, as the bulwark of her allies, had many weighty matters
to lay before the United States. Her mission sought an understanding
regarding the conduct of the blockade, naval operations, munition
supplies, military dispositions and resources, and the shipment of
foodstuffs. There was no drivi