AMERICAN LOAN
"ART OF STATESMANSHIP" NEW YORK BANKER'S COMMENT NEW YORK, January 22. The president of the Federal Reserve Bank of New York, Mr Allan Sproul, supported the American loan to Britain and the British-American financial trade agreements when addressing 1,300_ New York State bankers. He described them as " an act of statesmanship on behalf of ourselves and the whole world, directed against no other nation or group of nations and establishing no tenable precedent for other credits or loans." The fears and doubts, he added, which had been expressed on both sides of the Atlantic betrayed a lack of comprehension of the tremendous enterprise on which the United States had embarked. Mr Sproul admitted that the loan and the collateral understandings' were a tremendous gamble for Britain and America, but emphasised that Americans must keep their mind on the goal to which they were pressing—world peace, which, among other things, required that a strong and' economically healthy Britain should press on at America's side.
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Bibliographic details
Evening Star, Issue 25698, 23 January 1946, Page 5
Word Count
165AMERICAN LOAN Evening Star, Issue 25698, 23 January 1946, Page 5
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