S. AFRICAN AID TO BRITAIN

Press, Volume LXXXIII, Issue 25308, 7 October 1947, Page 7

S. AFRICAN AID TO BRITAIN

Plan For £76,000,000 Loan Reported INCREASED GOLD SALES (N.Z Press Association—Copyright) (Rec. 8 p.m.) LONDON, Oct. 5. The South African Minister of Finance (Mr J. H. Hofmeyr) and the governor of the South African Reserve Bank (pr. M. H. De Kock), who returned tp South Africa from London yesterday, will discuss in the next few days an immediate loan of £76,000,000 to Britain to buy foodstuffs from South Africa and. increased gold sales to the Bank of England, says Reuters correspondent in .Johannesburg. The correspondent adds that Dr. De Kock, while in London, negotiated a new gold sales agreement under which South Africa expects to increase her gold sales to the Bank of England from £80,000,000 a year to £85,000,000 or £95,000,000. Reuters financial correspondent says the new agreement may rank second only to the Marshall Plan in the relief of Britain’s dollar crisis, as South African gold is a prime factor in converting any sterling into dollars. GOVERNOR GENERAL OF SOUTH AFRICA

DUKE OF GLOUCESTER MENTIONED LONDON, October 5. “The British Government and the Government of South Africa are discussing the appointnfent of the Duke of Gloucester as Governor-General,” says the “Sunday Express.” “The appointment, if decided upon, will be made early in 1948. “It is understood that the present Governor-General (Major van Zyl) is contemplating retirement, although his term will not expire for three years. “The King has authorised the Duke of Gloucester to open the Malta Legislature at Valetta on November 10. The Duke will be accompanied by the Duchess on his visit to the island.”