Evening star., 1940-02-02

tor TOn-7nttttGfy tTGue purposes
This policy ,pas Observed tn orig
i,,al SO 900, 900 Finnish loan. and
President Roosevelt has in
formed Congressional leaders ne
tapors similar restrictions on pro-
posed new Government did.
Meanwhile, suggestions for prt-
pately financed and unrestricted
assistance are being discussed.
BY J. A. oLEARY.
The bill to make possible further
credits to Finland by the Export
Import Bank appeared likely to
reach the Senate floor for action
some time next week, as the Foreign
Relations Committee took under ad-
visement two days OF testimony by
State Department. and Federal
Loan Agency oficials.
Although the committee will not
meet before Monday to reach its
conclusion, Chairman Pittman in
dicated he believes the. issue will
be before the Senate within the
coming week.
Meanwhile, Senator Harrison,
Democrat, of Mississippi formally
placed before the Senate late yes
terday a resolution, following up
the suggestion he made several days
ago to encourage private sale OF
Finnish bonds to individuals in this
country.
Would Await Developments.
The Mississippian told the Senate,
however, that whether he calls the
resolution up for action will depend
largely on developments in the con-
sideration of the bill now in the
Foreign Relations Committee.
The Harrison resolution would not
have the force of law, but, If
adopted, would put Congress on
record as believing the Securities
and Exchange Commission should
provide for and expedite the regis
tration of any bonds, securities or
other obligations" that may be is
sued by Finland, If application is
made by the Finnish government,
or by any committee OF American
citizens.
Senator Harrison explained that
it is not necessary that Congress
take any action to make a private
bond flotation possible, but said he
wanted to have the resolution be-
fore the Senate in case the course Of
events make it seem desirable to
have Congress express its opinion
on the proposal.
Barkley Against Substitution.
Senate Majority Leader Barkley
has made it clear that, while he has
no objection to the suggestion for
private sale of bonds, he would not
favor making that substitute for
the pending bill to add s100, 600 900
to the lending ability of the Export
Import Bank, with discretion to ad-
vance $40, 1000, 900 of that amount as
an additional credit to Finland for
non-military purposes.
Meanwhile, Senator Brown, Dem
ocrat, of Michigan, author Of the
original proposal for a Government
loan to Finland, said today he still
feels confident the Foreign Relations
Committee will report out a bill on
the subject.
A committee meeting before Mon
day was found impracticable be-
cause some members would be un-
able to attend, due to other business
and sickness.
Total Fund May Be Cut.
The bill may be modified in some
details before the Senate acts. There
is talk of a move to cut the bank S
general authorization from $780,
000. 900 to $50 0,000, 900, but that would
not be aimed at Finland. which,
as the bill now stands, could only
be given $4,000, 900, in addition to
the $10,000.000 already advanced by
the bank.
If the bill passes the granting Of
further credit to Finland would be
entirely optional with Federal Loan
Administrator Jones, with the re-
striction that not more than $780,
000, 900 could be outstanding to one
borrower at q time.
Senator White of Maine, a Re-
publican member of the committee,
described the bill today as neither
fl i nor fowl" and expressed the
'Aew there is nothing in 1t for Fin
land.