RAPID WITHDRAWALS FROM U.S.A. LOAN TO BRITAIN
(Rec. 1 p.m.) • WASHINGTON, July 16., Britain withdrew another 100.000,000 dollars of the 3,750,000,000-dollar loan to-day bringing the total withdrawals tb 2,300,000.000. The balance undrawn is now only 1,450.000,000. v The latest withdrawal indicates the accelerated speed of the British loan expenditure. Originally it had been planned not to make any new withdrawals until early in August. To-day’s withdrawal intensifies the fear in Washington that the whole loan will have vanished well before the middle of 1948. HEAVY DEPRECIATION IN VALUE OF LOAN LONDON, July 16. In a written reply in the House of Commons, Mr Dalton revealed that the American loan had depreciated in value to Britain by 28 per cent, since it was contracted and by 16 per cent; since October 1, 1946. He said it was impossible to say to f what extent this was due to the abandonment of price control in the United States or to the general, rise in world prices.
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Evening Star, Issue 26155, 17 July 1947, Page 7
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164RAPID WITHDRAWALS FROM U.S.A. LOAN TO BRITAIN Evening Star, Issue 26155, 17 July 1947, Page 7
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