NO ALTERNATIVE

Gisborne Herald, Volume LXXII, Issue 21802, 27 August 1945, Page 3

NO ALTERNATIVE

AMERICAN REPLY CESSATION OF SUPPLIES REQUIRED BY LAW WASHINGTON, Aug. 24. Commenting on Mr. Attlee’s statement that the termination, of lendlease has placed Britain in a most serious financial position, Mr. Leo Crowley, Foreign Economic Administrator, pointed out that British officials must have realised that lend-lease would have to be discontinued after the Japanese war and could not be used as part of Britain’s rehabilitation and reconversion programme.

“I had no discretion under the law and the promises made to Congress by President Roosevelt and President Truman. I repeatedly stated that lendlease could not be used for post-waa; rehabilitation. If the promise to Congress was broken it might jeopardise the whole future authority we need in dealing with economic aid for European countries. It is not a question of the sudden end to lend-lease, but the sudden end to the Japanese war. Other nations whose economy has been sharply affected by the end of lend-lease accepted the decision in —-o-s’-nfion with us in dealing with the problem.”

Mr. Crowley disclosed that Britain had been offered the opportunity to buy lend-lease supplies stored in the; United States or in process of manufacture or shipment, the payment to be spread over 30 years at 2 3-8 per cent interest. The Export and Import Bank’s facilities were also available.