FOLLY TO MAKE THE EUROPEAN LIQUIDATE ASSETS IN U.S.A
Washington, Jan. 14 The Secretary of the Treasury (Mr. John Snyder) <told the Senate Foreign Relations -<Mmtnittee today that it would be folly to compel European people to use up 4,800,000,000 dollars' worth of gold dollars, property and business investments they had in the United States before being eligible for Marshall Plan aid. Those countries would need their dollar resources to’ meet inlport requirements not included in the plan. Liquidation of the assets would merely add further instability to their monetary systems. Mr. Snyder said it was possible 20 to 40 per cent, of the 6,800,000,060 dollars asked for in the 15 months of the recovery programme would comprise loans.
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Wanganui Chronicle, 17 January 1948, Page 5
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119FOLLY TO MAKE THE EUROPEAN LIQUIDATE ASSETS IN U.S.A Wanganui Chronicle, 17 January 1948, Page 5
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