CREDITS FOR BRITAIN

Wairarapa Times-Age, 26 November 1940, Page 5

CREDITS FOR BRITAIN

AVAILABLE IN UNITED STATES VIEWS OF CONGRESSIONAL CHAIRMAN. A SUGGESTION CONDEMNED. (By Telegraph—Press Association—Copyright) WASHINGTON, November 24. Mr. Solomon Bloom, chairman of the House of Representatives’ Foreign Affairs Committee, declared: “It should be emphasised that Britain does not need money but merely credits, for which reason we should receive specific lists of the British needs for which we can extend suitable credits. “If they need a billion dollars’ worth of planes we should give them planes on credit.” Mr. Bloom said that such credits might be arranged without amending the Johnson Neutrality Act, and he criticised Mr. Hamilton Fish for his proposal in an address yesterday to seek British possessions in exchange, saying: “The United States does not want further possessions.” NO EARLY ACTION ANTICIPATED IN WASHINGTON. PRESIDENT AND ADVISERS CONFER. (By Telegraph—Press Association—Copyright) (Received This Day, 11.20 a.m.) WASHINGTON. November 25. A renewed discussion of credits for Britain followed the disclosure that the United States was considering the freezing of all belligerent credits in the United States to enable a determination of how and where foreign funds are spent. No decision has been reached regarding this, but it is understood that the freezing is not to be permitted to interfere with British war purchases. Senator Nye has moved a resolution for a Senatorial inquiry into the British Empire's financial resources in the United States. After a conference with President Roosevelt, Senator Barkley expressed the opinion that the question of British credits would not be taken up during the current session of Congress. cThe Associated Press of America believes that those present at the conference including Mr. Rayburn, discussed a possible repeal of the Johnson Act, Senator sßarkley said “The conference was concerned chiefly with projects for the future and the whole programme for Congress, which is being convened on January 3, was reviewed generally.” The President’s secretary, Mr. Stephen Early, said President Roosevelt's statement on January 22, in reference to the question of loans and credits to Britain, was not discussed by the Government and the statement stands despite Lord Lothian’s statement on Saturday. Other Administration sources indicated that unless Britain’s plight becomes grave and her assets completely exhausted. the United States will maintain the cash and carry policy. MR HULL RETICENT. The Secretary of State (Mr Cordell Hull) told a Press conference that the whole question of financial aid for Britain apparently would have to be considered by the Governmental and Congressional authorities, with a view to establishing a basic policy, before specific methods were discussed. He indicated that while the question had not yet been actively considered, it was expected that it would be considered in the near future. Mr Hull recalled that the world war debt question was considered first by an inter-departmental committee and then the Congressional leaders were called in. He declined to express an opinion as to whether assistance might be’ possible without the revision of the Johnson and Neutrality Acts. He also declined to com-: ment on suggestions that Britain might l trade her West Indies possessions.