AID FOR BRITAIN.

Ashburton Guardian, Volume 61, Issue 49, 7 December 1940, Page 5

AID FOR BRITAIN.

BRITISH QUARTERS HEARTENED.

MISSION OF SIR F. PHILLIPS. (Received; This Day, 12.45 p.m.) WASHINGTON, December 5. British quarters are much heartened by the. latest developments, regarding further American aid for Britain. The Secretary to the Treasury (Mr Henry Morgenthau) said he a grew d with Mr Jesse Jones that the British Government was a good' loan risk, but he. declined to say whether a loan to Britain was actually contemplated. He said that he would confer with Sir Frederick Phillips to-morrow. Sir Frederick Phillips, who arrived by Clipper, said his mission was to straighten out the technical difficulty in connection with Britain’s dollar reserve. He declined to comment whether he intended to seek credits. He .asserted that Britain’s financial position had never been stronger. The war was costing about 45,000,000 dollars daily, which Britain was able to stand.

...Speaking.jn Congress, Senator G. Taft said he was open-minded on financial aid.to Britain, but it was nonsense to call Britain a good risk. “If we are going to do anything it would better to give than to lend. Ultimately we may have to lend to Britain, but to lend immediately to Canada is desirable first.” he said.

The Washington correspondent of the “New York Herald-Tribune” says the British shipping mission is completing contracts to build shipyards on the east and west coasts to assemble pre-fabricated freighters on a mass production basis; The contracts-are the' result of two months’ negotiations.