AMERICAN CREDITS
AUSTRALIA'S PROSPECTS FAVOURABLE DISPOSITION (eceived March 1, 11.40 p.m.) Washington; March 1 Well-informed circles believe that there is a disposition to extend credits to Australia as far as possible withiii the law, due to general goodwill and the fact that Australia is considered a good r:sk, says the United Press. The s Neutrality Act bars long-term credits to belligerents, but does not affect private borrowers in belligerent nations. American money is being lent fairly extensively to other friendly Powers, for instance, China and Sweden and numerous Latin-American countries. Apparently loans to Australia would- • fall in the same category. It is noted that an extension of credit might be the means of sustaining Dnited States exports to Australia while ordinary trade is disrupted by the war. United States banks have, ample balances, and in many cases arei flooded with idle money. They wilLvery likely be willing to make this available to Australia if it is decided to be a good risk. It is considered most unlikely, \ however, that the Export anfl Import ; Bank will participate, due to Australia's status as .a belligerent.
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Bibliographic details
New Zealand Herald, Volume LXXVII, Issue 23595, 2 March 1940, Page 11
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183AMERICAN CREDITS New Zealand Herald, Volume LXXVII, Issue 23595, 2 March 1940, Page 11
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