“NO STRAITJACKET”
U.S. LOAN TERMS BRITAIN’S PURCHASES FLEXIBLE INTERPRETATION LONDON. Sept. 18. The United States Embassy in London issued a statement on Article 9 of the American loan agreement which prevents Britain stepping up her Empire purchases without buying equivalent quantities from the United States. The statement said that the Secretary of the Treasury, Mr. John Snyder, had pointed out that when any two Governments worked out an agreement it must be kept flexible. This was the spirit of the original loan negotiations and it is the present purpose and intention of British and American officials in dealing with the problem. ‘The framers of the Anglo-American financial agreement specifically recognised the existence of unusual' aspects of the United Kingdom position, requiring certain deviations from any inflexible rule oi non-discrimination,” the statement added. “It is basic to an understanding of section 9 to appreciate that it never was intended to constitute a straitjacket on British trade.”
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22439, 20 September 1947, Page 6
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155“NO STRAITJACKET” Gisborne Herald, Volume LXXIV, Issue 22439, 20 September 1947, Page 6
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