U.S. LOAN To BRITAIN

Press, Volume LXXXII, Issue 24932, 20 July 1946, Page 7

U.S. LOAN To BRITAIN

SUPPLIES OF FISH BOUGHT (Special Correspondent N.Z.P.A.) LONDON, July 18. The first purchase under the American loan was made by the British food mission in the United States, where the mission signed a contract for the purchase of 102,000,0001 b of tinned fish. Negotiations are also in progress for the purchase of large quantities of tinned fruit from America. As requested by Britain, within a few hours of President Truman having signed the resolution authorising the loan of 3,750,000,000 dollars, the first instalment of 300,000,000 dollars will be deposited to the British account in the New York Federal Reserve Bank to-day. Further sums will be deposited as requested by Britain. The Secretary of the Treasury (Mr J. W. Snyder), questioned concerning the inflationary potentials of the credit, said that he saw no danger. He felt that Britain jwould use the credit very cautiously. Britain ■would buy some food to balance her. diet ana also some heavy machinery, which would soon bfe in ample supply. He had heard nothing of any British intention to devalue her currency, and he thought he would have been advised in advance of such an intention.

President, Truman told a press conference that he does not intend asking Congress this session for further funds for foreign financing, thereby virtually excluding the possibility of a loan to Riissia.

OCCUPATION FORCES IN JAPAN PROVISION OF SHEETS AND CROCKERY (N.Z. Official News Service.) KURE, July 18. More than 80,000 sets of crockery and chinaware for the use of troops have been ordered by the headquarters of the British Commonwealth Occupation Force. This order is part of a general plan to have the occupation troops back to every-day civilised conditions as early as possible. It is hoped that all troops will eventually dispense with their metal eating utensils and will be served in their messes by . Japanese waitresses. Dependants of troops, should they come to Japan under the proposed will be given priority in the issue Of crockery. Eight sets, including cutlery, glasses, and cruets, will be issued to small families and 12 sets to larger families. It is also proposed to supply troops with sheets and pillow cases.