U.S. WOOL AND COTTON FOR OCCUPIED STATES
(10 a.m.) WASHINGTON, June 20. In the last-minute legislation passed by Congress before it adjourned on Saturday was a bill establishing a revolving fund of 150,000,000 dollars to finance the purchasing of American wool, cotton and other fibres for processing into finished articles in Japan, Germany and other occupied areas. The army occupation authorities could use the funds to make purchases in America and the loans would be repaid from the proceeds of the sale of the finished articles.
Army and trade officials said the plan would aid economic recovery in the occupied areas and also provide a foreign trade outlet for American wool and cotton.
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Gisborne Herald, Volume LXXV, Issue 22669, 21 June 1948, Page 5
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113U.S. WOOL AND COTTON FOR OCCUPIED STATES Gisborne Herald, Volume LXXV, Issue 22669, 21 June 1948, Page 5
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