“BRITISH LOAN DOOMED”

Press, Volume LXXXII, Issue 24867, 6 May 1946, Page 5

“BRITISH LOAN DOOMED”

U.S. Senate Debate

INFERENCE DRAWN IN WASHINGTON

(N.Z. Press Association—Copyright) (Rec. 5.5 p.m.) NEW YORK. May 4. Barring a last-minute popular outcry, many observers believe that the British loan is doomed in the Senate, which is acting toward the loan similarly as toward the League of Nations after the first World War, says the “Christian Science Monitor’s” Washington correspondent. Once again, he says, there is reluctance to continue international co-operation on a broad scale after winning the war on the battlefield. A Senate rule which gives advantage to the “noes” is preventing a vote. Indications are that a Senate majority actually favours the loan as it did the League of Nations, though it is unable to make its will effective. Permanent sidetracking, or the defeat of the loan means that Britain will not participate in the Bretton Woods plan. This in turn means a post-war cut-throat trade war involving all nations with the prospect of trade confusion, blocked credits, tariffs, and retarded world trade recovery.

The Democratic leader, Senator A. W. Barkley, failed in a series of attempts to limit the Senate debate on the Loan BUI. Senator Barkley first proposed that the Senate should agrea unanimously to limit each senator. Senator Johnson (Democrat, Colorado) objected to this, and finally Senator Barkley proposed that the Senate agree to begin voting on all amendments on May 9. Senator Johnson again objected.

The limitation of a Senate debate, unless unanimously agreed to, requires a closure motion carried by a two-third# majority.

Previously Senator Barkley told correspondents that if a limitation of the debate was not agreed to, h# would sign a closure petition circulated yesterday.