U.S.A. & WAR

Grey River Argus, 7 December 1940, Page 5

U.S.A. & WAR

FINANCIAL AID I .... — — Negotiations With Britain [Aus. & N.Z. Cable Assn.] WASHINGTON, December 5. Sir F. Phillips has arrived from England by the Clipper. He said his mission was to straighten out a tecn.nical difficulty in connection wfi.h Britain’s dollar reserve. He declined to comment whether ne intends to seek credits. He asserted that Britain’s financial pos-tion had mver heen stronger. The war was costing about 45,000,000 dolar s daily, wmen Britain was able to stand. British quarters are much heartened by the latest developments regarding further American aid for Britain Mr Morgenthau said he agreed with Mr Jesse that the British Government was a good loan risk, but he declined to say whetner a loan to Britain was actually contemplated. H said he would comer with Sir F. Phillips to-morrow. Speaking in Congress, Mr Taft said he was open-minded on financial aid to Britain, but it was nonsense to call Britain a good risk. “Il we are going to do anything, better give than lend. Ultimate.y, we may have fr. lend to Britain, but to ic.id immediately to Canada is desirable first.” GOLD CONSIGNMENT [Aus. & N.Z. Cable Assn.] LISBON, December 5. A steamer, carrying a large consignment of gold lor British purchasers in the United Kingdom, nas arrived in the Tagus, after a voyage of 28 days. A zig-zaggmg mure necessary, to escape Italian and Geiman submarines. Some were, na.’rowly eluded. FURTHER SUPPORT FOR BRITAIN. (Received December 6, 11.30 p.m.). WASHINGTON, December 5. The United States has formally released twenty Boering planes which will be available for Britain when the Norden bomb-sight has replaced the Prosperry one on them. One of the 26 Consolidated planes has already been delivered. The remainder will be delivered by March. NEW YORK, December 5. The “Herald-Tribune’s” Washington correspondent says:—A Biitish shipping mission is completing contracts to build shipyards on the East and West Coasts of the United States, and there to assemble pre-fabricated freighters on a mass-produtcion’basis. These contracts are the result of two months of negotiations. U.SA. AIRCRAFT INDUSTRY BOOMING. ■ — (Received December 6, 11.40 p.m.). NEW YORK,. December 5. Aircraft manufacturers spent 83,356 thousand dollars on plant and expansion^for defence production m 1940, and let contracts for an additional 232,188 thousand dollars lor operations by next June. Employment increased from sixty thousand workers in January to 164.920 at present. It will b e 382,000 workers by June next. (Received December 6. 7.50 p.m.). WASHINGTON, December 5. Several score of surplus tour-inch and seven-inch Navy guns are being made available to Canada for the fortification of Nova Scotia. GREAT LAKES POWER PROJECT. [Aus. & N.Z. 1 Cable Assn.] DETROIT. December 5. President Roosevelt announced, by letter, that he was pressing the new ‘Congress for the immediate, con.truction of a Great Lakes-St. Lawrence seaway power project, which would be comparable in economic value to the Panama Canal, and a vita’, necessity for national defence.