Opponents to the bill charged that the measure was "opening a wedge for promiscuous loans which might involve the United States in war,"
The bill specifically bans military loans to foreign countries. Although Finland and China were not mentioned specifically, Senators repeatedly emphasized that the bank should immediately make a loan to China and Finland.
Senator Robert R. Reynolds, Democrat of North Carolina, the only Senator who attacked the loan on the floor, declared that the bill would aid Bolshevism. The United States, he said, had bought "its share of a future war by lending U.S.$25,000000 to China. He added that by buying silver and pig iron from China the U.S, was indirectly aiding Bolshevism, Other opponents of the bill, although they opposed a loan to Finland because of the fear of becoming involved in the Russo-Finnish war, did not attack the Chinese loan.
Text read from the printed page and cleaned; old type leaves the occasional error.