CREDIT NEEDED

Ashburton Guardian, Volume 61, Issue 39, 26 November 1940, Page 6

CREDIT NEEDED

BRITISH WAR FINANCES.

THE. ATTITUDE OF AMERICA.

CASH AND CAREY CONTINUED'

(United Press Association —Copyright >

(Received This Day, 9.45 a.m.) - , .. WASHINGTON, November 25. ' After a' conference with President Roosevelt, Senator Barkley expressed the opinion that the question of British credits would not be taken up in the current session of Congress. The Associated Press believes that the conferees, including Air Rayburn, discussed the possible repeal of the Johnson Act.

Senator Barkley said: “The conference concerned chiefly with projecting on the. future and the whole programme for Congress, which is being convened for January 3, was reviewed generally.” The President’s secretary (Mr Stephen Early) said that Mjr Roosevelt’s statement on Friday in ..reference to the question of loans and credits to Britain had not been discussed by the 'Government. His statement stands despite Lord Lothian’s statement on Saturday. . . Other Administration sources indicated that unless Britain’s plight becomes grave and her assets completely exhausted the United States will mainthin the chsb and carry policy.

LORD LOTHIAN’S STATEMENT

questions in commons likely

LONDON, November 24. It is likely that questions will be asked in the House of Commons concerning the statement made by the British Ambassador to the United i States (Lord Lothiaii) that Great Butain would be in urgent need of finance in 1941. . , Lord Lothian’s references to Britain s financial position are said to be only an expression of his appreciation of the all-in policy which. Britain has adopted .to furn her resources into aeroplanes, guns, and other weapons for the maintenance of the war. His references dealt only with liquid assets at present available, and it is.pointed out that Lord Lothian is aware of the great resources Britain has in all parts ( of the world. Mr Roosevelt, who will return to Washington to-morrow, is expected to have a consultation with Lord Lothian in the early part of this week. Mr Hamilton-Fish, one of v Mr Roosevelt’s foremost critics in the House of Representatives? in a radio broadcast said that Mr Roosevelt had neither the will nor the ability to keep the United States out of war. He urged the United States to take over British and French islands in the western hemisphere for the cancellation of World War debts. Credits should be extended only after British resources had., been exhausted. A message from Washington says that Mr S. Bloom (chairman of the House of Representatives’ Committee on Foreign Affairs) said: “It should be emphasised that Britain does not need money, but merely credits, for •which reason we should receive 'specific lists of British needs for which we can extend suitable credits If Britain needs a billion dollars worth of aeroplanes, we should give them the aeroplanes on credit.” Mr Bloom said such credits might be arranged without amending the Johnson Act. He criticised Air Hamilton Fish’s proposal to seek British possessions in exchange, saying that the United States does hot want further possessions.