MARSHALL AID TO BRITAIN
PRESS COMMENT ON FUTURE (Special Correspondent NJt.P.A.)
(Rec. 11 p.m.) LONDON. Nov. 2. The "Manchester Guardian." commenting in a leading article on the possible reduction of Marshall Aid, says that the British people would accept the decision without argument but not without anxiety. “Exaggerated notions about the extent of British recovery are current in the United States and at Home.' says the article. "Just as the decline in gold reserves in 1949 produced a panic, so the rise in the reserve has produced an over-confidence. ."While it is true that the doubling of the gold reserve has placed Britain and many Commonwealth countries in a position to ease restrictions against dollar purchases, it would be wise to mention at the same time that the outlook whuld be very different if Marshall Aid was suspended and interest payments on the American post-war loan are started. “It is good to bear the ultimate need for free currencies and multilateral trade in mind, but sterling currency, the only pivot on which a free system could turn, is still in need of shelter
“It would be much easier to take risks if there was some assurance that Marshall Aid would not be withdrawn but merely suspended,” says Uie newspaper.
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Bibliographic details
Press, Volume LXXXVI, Issue 26261, 4 November 1950, Page 7
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209MARSHALL AID TO BRITAIN Press, Volume LXXXVI, Issue 26261, 4 November 1950, Page 7
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