AMERICAN LOAN FOR JAPAN
TOKIO. May 23. The Japanese will soon receive * 6,000,000-dollar loan from the Bank of America to buy industrial raw materials. The loan is the first to be arranged since August 15 last, when General MacArthur's headquarters announced that private loans would be welcomed to assist the reconstruction of the Japanese export trade. General MacArthur’s headquarters holds 137,000,000 dollars’ worth of gold in the Bank of Japan as security for American private loans. Supreme Command officials stated that disagreement between General MacArthur’s headquarters and the American banks over interest rates had prevented earlier efforts to obtain loans.
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Bibliographic details
Otago Daily Times, Issue 26780, 25 May 1948, Page 5
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100AMERICAN LOAN FOR JAPAN Otago Daily Times, Issue 26780, 25 May 1948, Page 5
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