GOING OFF

Grey River Argus, 24 December 1943, Page 3

GOING OFF

U.S. LEND-LEASE POLICY

Cash Payments Returning

' I Aust. & N.Z. Press Assn.] (Rec. 11.20) NEW YORK, Dec. 22. The Wail Street Journal says: ‘‘The United States has begun transferring its foreign trade from to private commercial channels. This is a new Government policy. It already 7 has removed certain exports and areas from the lend-iease list. Others will disappear in the near future. “French North Africa is already, relinquishing its seat at the lendiease banquet table. The French now put cash on the barrelhead for everything that their African colony receives.

“England, with all of the British Empire, has agreed to switch a number of items from the lend-iease io the cash basis, including machine tools, projects of a permanent nature, industrial equipment, petroleuni equipment, and portable pneumatic and electric tools. The Journal adds: “Economy-mind-ed officials welcome inis opportunity of removing items from the lendiease list as a saving to the U.S. taxpayers. The lend-iease traffic at present totals about one thousand million dollars per month. This constitutes four-fifths of the American export trade.