Evening star., 1940-02-08
BY ]. A. O'LEARY.

BY J. A. OLEARY.
Prompt passage of the bill to make
possible S2O,OOOOOo of additional
credit to Finland for purchase of
non military supplies in this coun-
try was predicted today by Chair
man Pittman of the Foreign Rela-
tions Committee as the measure
awaited Senate debate, probably
this afternoon.
If the pending independent Of
fees appropriation bill can be dis
posed of within a few hours today,
Senate Majority Leader Barkley be-
lieves there is chance of acting on
the Export rt-Import Bank loan
measure by late this afternoon or
tomorrow. 1t would then 60 to the
House for consideration.
A move is expected to be made
by Senator Brown, Democrat, of
Michigan to amend the bill on the
floor to permit the Reconstruction
Finance Corp. to give Finland a
direct loan of S5,89l 900, which is
the amount the beleaguered repub-
lie has paid back to this country on
its old war debt.
Supported by Vandenberg.
Senator Vandenberg, Republican,
of Michigan made known today he
also will urge such an amendment,
declaring that Finland is entitled
to a reward for its record of debt
payment and expressing the view
that the bill as it stands contains no
tangible aid for that struggling ma
ton.
Now we are just giving them
three cheers for paying their
debts" Senator Vandenberg added.
House Fight Is Close.
The Export-Import Bank bill,
which comes to the Senate with
the decisive Endorsement of two
major committees, does not men,
ton Finland or any other coun-
try by name. 1t merely adds
500, 100000 to the general authori-
Zation of the Export Import Bank
to encourage sale abroad of Ameri-
can goods, leaving to the discretion
of the Board of Directors the ex-
tension of further credit of 20,000,-
600 to Finland, and a similar
amount to China, but only for nom
military supplies.
If Finland is permitted in addi-
ton to reborrow its old debt pay
ments, under the Brown amend
ment it could use that money for
whatever it deems most essential
in its present struggle to resist
Russian invasion.
Amount May Draw Fire.
The effort which failed in COM
mittee to cut the banks new au-
thorization down to $5O,00O,O0O, is
expected to be renewed on the floor,
but with the odds against its adop-
ton.
The bill occupies the unusual
position of having been indorsed,
first by the Banking Committee, by
vote of l8 to 2, and yesterday, by
the Foreign Relations Committee,
IL to 6.
Il believe the bill will pass with
out much debate" said Senator
Pittman today. The action of the
Banking Committee in the first
place and its confirmation by the
action of the Foreign Relations Com
mittee, will undoubtedly have great
weight both in the Senate and
House"
The Senator pointed out that the
only committee amendment limits
future loans to S20,0O0O00 to any
one country, rather than to one bor-
rover. He explained this would pre-
vent all of the funds going to any
one country through the medium of
q number of borrowers.
This amendment" he said, "in
no way affects the amount of money
that could be loaned to Finland un-
der the bill as reported by the
Banking Committee"
"Safe Loan" Promised.
Senator Pittman said Federal
Loan Administrator Jesse Jones
testified to both committees that
he would not approve any loan un-
less he believed it would be repaid.
Mr.. Jones also made it clear to
the Foreign Relations Committee.
the Senator said, that no money
would be advanced except for the
export of American products, and
then only when the goods is on
shipboard.
He stated emphatically," the
Senator continued, that the Board
of Directors of the bank had never
approved and would not approve a
loan for export of arms, ammuni-
ton and implements of war or a
loan contrary to the johnson Act"
Legal advisers of the State Depart
ment testified that in their opinion
a loan under the provisions of this
bill would not be illegal, and Sena-
tor Pittman said the Foreign Rela-
tions Committee undoubtedly con-
Cured in that opinion, or it would
not have reported the measure.
Senator Clark, Democrat, of Mis-
souri,. one of the six who voted
against reporting the bill, is expected
T. to carry his opposition to the floor.
He indicated that he would rather
support direct loan than the pend
ing Export Import Bank authoriza-
ton.