LEND-LEASE GOODS

Timaru Herald, Volume CLVIII, Issue 23318, 29 September 1945, Page 5

LEND-LEASE GOODS

Unexpired Contracts Britain And Russia To Make Payment By Telegrapn—NZ Press Assn —Copyrlqhi (11.30 p.m.) NEW YORK, Sept. 27. The Washington correspondent of the “New York Herald-Tribune’’ say, that the United States, Britain and Russia recently concluded an agreement under which Britain and Russia will each pay for approximately 400,000,000 dollars worth of goods contracted for before lend-lease terminated. The British decision was conveyed to United States officials during the .■urrent talks on British and American economic relationships. The documents have not yet been signed, but Britain is reported to be paying cash for. as yet, an undetermined portion of the amount, meeting the remainder by means of a 30-year loan at 2 3-8 per cent. Russia wishes to purchase practically all the goods on a 30-year credit basis at the same interest. British and American officials are also discussing the disposition of a considerable portion of the 29,000,000,000 dollars worth of goods sent to Britain during the war. now reclaimable. including about 300 merchantmen, several thousand aircraft and a huge quantity of armaments and clothing. Some items may be brought back to America or sold as surplus war property to other nations. An authoritative American official, when asked if the United States would reclaim gocds from Russia, replied that there was no reason to differentiate between Britain and Russia. The United States is reported to be still receiving 50.000.000 to 60.000.000 dollars aid from Britain. How rapidly this will diminish depends on how quickly American troops are transported from Britain. It is indicated that British debts for ford and raw materials during the war will be cancelled, so the United States would still owe to Britain.