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New Zealand Herald, Volume 82, Issue 25286, 21 August 1945, Page 5

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UNITED STATES SCHEME POSSIBLE CREDIT PLAN FINANCIAL PROBLEM ' NEW YORK, Aug. 19 It is understood that President Truman, after conferring with Government officials, agreed with plans to liquidate the lend-lease programme as soon as possible, says, the New York Times Washington correspondent. The plans contemplate completion of the non-muni-tions transactions currently scheduled, also provision for credits where necessary. The correspondent points out that the unexpected end of hostilities has precipitated a difficult financial problem for some, particularly Britain, because the lend-lease law stipulated that supplies received, but not used in waging war, must be paid for. It is estimated that goods en route to Britain or earmarked for early shipment to Britain are valued at 300,000,000 dollars. In view of the British shortage of dollar exchange some sort of American credit arrangement may have to be provided if Britain still wants the goods. In Air Nash's Budget of August 9, receipts from lend-lease and Canadian mutual aid for the financial year ending March 31, were estimated at £20,500,000. The cost of reverse lendlease —food, services and other commodities supplied to the United States forces —was estimated at £24,000,000.