FINANCIAL AID

Ashburton Guardian, Volume 61, Issue 58, 18 December 1940, Page 3

FINANCIAL AID

BRITISH REQUEST TO AMERICA.

NOT APPLICATION FOR LOAN.

(United Press Association—Copyright ) NEW YORK, December 16.

The Washington correspondent of the Associated Press of America says official quarters state that Britain has formally requested financial assistance from the United States.

The amount and the exact nature of the request have not been disclosed, except that it is hinted that the request could not be defined as an application for a, loan. The Washington correspondent of the New York “Daily News” says it is strongly indicated that Mr Roosevelt will ask Congress to underwrite British purchases to the extent possibly of one billion dollars a year. It is believed that Mr Roosevelt favours a gift or an exchange for bases instead of loans. The British Official Press Service, commenting on Britain’s application for financial aid from the United States, says: “The whole question is one of dollar exchango. Aeroplanes, ships, munitions, and other materials will be needed at a constantly increasing pace and the British Government is anxious to make as full use as possible of the vast resources of the United States.”

The chairman of the United States Foreign Affairs Committee (Mr Sol Bloom) to-day urged the speeding up of the elimination of all obstacles in the rendering of help to Britain. He advocated the repeal of the Neutrality Act to permit United States ships to carry supplies to Britain. In the meantime, President Roosevelt has announced his intention of consulting with Mr Cordell Hull when he gets back to Washington from the Caribbean. He intends considering the submission of a Bill to Congress repealing the Johnson Act.