Colonel House to Woodrow Wilson
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Things began to break yesterday afternoon in British quarters. Spring-Rice is at Woods Hole and McAdoo at Buena Vista and the machinery became clogged. As usual, Sir William took hold and is trying today to see what can be done.Northcliffe received a message from Lloyd-George to come here and advise with me before moving further. He was ready to take the ten o'clock train this morning when I received, through Sir William, the cable from Balfour which I sent you by Lansing. I therefore advised Northcliffe to go to Washington immediately rather than come here, which he has done.
By putting together what I gather from Washington and Sir William, the trouble that has come about concerning finances is largely a matter of misunderstanding, with some fault on both sides.Sir Richard Crawford tries to work through Administration channels. Lever works partly through Morgan & Company, and it is not certain that the Morgans have not lent a helping hand to this crisis.
The British understood that we would take care of certain Russian obligations they have been carrying. They claim if they had not been under this impression they would have arranged to take care of the matter in a different way.
What they need is $35,000,000. on Monday; $100,000,000. on Thursday and $185,000,000. a month for two months beginning ten days from next Thursday.
This is a staggering amount and indicates the load Great Britain has been carrying for her allies. It seems to me that we should have some definite understanding with England as to what money she will need in the future, and how far she can count upon us.
It seems absurd to be giving her comparatively small amounts, the frequent publication of which make a bad impression on our people. Would they not stand one large amount better than these lesser amounts constantly brought to their attention?
EM House
Magnolia, Massachusetts.
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