FIFTY-YEAR LOAN

Evening Star, Issue 25634, 7 November 1945, Page 5

FIFTY-YEAR LOAN

AMERICAN AIDJO BRITAIN AN AGREEMENT REPORTED EMPIRE PREFERENCE TARIFFS TO GO WASHINGTON, November 5. Britain and America are reported to have agreed on a sweeping programme for removing restraints on world trade, says the Assooiated Press. America will lend Britain 3,500,000,000 to 5,000,000,000 dollars at 2 per cent., repayable in 50 years, beginning five years after the actual making of the loan. It is also provided that if the Bri-* tish Empire fails to take in sufficient funds its payment may be delayed for that vear. The terms' are reported to be still awaiting final decision by 'the British Cabinet. , » The American negotiators say they would like to establish a maximum of 5,000.000,000 dollars for British use, but the Americans believe that Congress, will approve only of a loan which the British can prove they aotually need. The Americans have, therefore, tentatively worked out a minimum figure of 3,506.000,000 dollars. In addition, there would be a credit resulting (from post lend-lease shipments of goads to Britain, which are being continued pending the final settlement of the loan problem. It is also learned that the British agreed to the principle of cutting out Empire preference tariffs but they pointed out that It would take some time to accomplish. Fur- ' thermore, the British also plan to , abandon the Empire dollar, pool. The' Americans also agreed to work on further tariff reductions.