Billion Dollar Free-of-interest Loan to Russia

Manawatu Times, Volume 66, Issue 266, 8 November 1941, Page 7

Billion Dollar Free-of-interest Loan to Russia

STALIN EXPRESSES SINCERE GRATITUDE Received Friday, 9.20 p.m. WASHINGTON, Nov. 7. The million dollar loan to Russia •which President Roosevelt has authorised will be under the Lend and Lease Act. It does not carry interest and repayment will not begin until five years after the conclusion of the war. Repayment is spread over a decade and will partly consist of raw materials and commodities. President Roosevelt* in a letter to

M. Stalin, gave assurances that the United States would carry out to the limit all the implications of the Moscow Conference. He said the delivery of supplies to Russia is being expedited in the largest passible amounts.

M. Stalin, replying, expressed sincere gratitude for the loan and the • • unusually substantial aid in Russia’s difficult struggle against the common enemy."

President Roosevelt telegraphed President Kalinin on the eve of the twenty-fourth anniversary of the Russian Revolution of 1917: “Sincere wishes for wellbeing to the people of your country and to tell you how heartening the valiant and determined resistance of the army and people of the Soviet Union is to the people of the United States. I assure you of the desire of the Government and people of the United States to do everything possible to assist, your country."