“ From France we received a loan of 110 million francs at five percent interest; this is to be repaid in July of next year. This money was applied for the purchase of war material; the obligation on behalf of our government was signed by minister Beneš.
In Italy we contracted a loan of 120 million liras for the equipment of the legions which fought on the Italian side. Interest and term have not been determined. The other loan of 20 million liras was secured by private firms for the purchase of textile goods, but the state guarantees its payment. ”

“ The Czechoslovak Republic started out without any reserve of precious metal. An appeal was made to the people in spring of 1919 to turn in their gold and silver coins and ornaments.—This campaign is still going on, and it has brought in so far 20 million crowns worth of gold and 100 millions worth of silver. ”