Evening star., 1940-02-08
The Finnish Loan

Evidence that sentiment in Con-
gress is overwhelmingly on the side
OF Finland in that little nations gal
liant resistance to Russian invasion
may be found in abundance In the
record Of yesterdays proceedings at
the Capitol. On the Senate side, the
Foreign Relations Committee ap-
proved by two-to-one vote the
Brown bill, designed to make avail
able to the Firms $40 000, 900 restrict
ed loan, and gave its unanimous
Endorsement to the Harrison proposal
to put Congress on record as favoring
expeditions handling by the Securi-
ties and Exchange Commission of
any Finnish government bond issue
offered to private investors in the
United States. In the House, an ef-
fort to prevent the appropriation Of
funds to pay the salary of an Ameri-
can ambassador to Russia, which
would have amounted virtually to a
demand for severance of diplomatic
relations, was defeated by the narrow
margin Of two votes.
These manifestations of Americas
sympathy are undoubtedly welcomed
by the Firms, but their gratitude,
upon closer examination of the
actions taken, must be tempered by
the realization that they hold little
promise of anything which may be
expected to aid Finland or deter the
Russians.
Finland, when the SHOWS have dis
appeared, will be faced with the
urgent necessity of securing addi-
tional military equipment, particu-
larly fighting planes and anti aircraft
guns, or the alternative of succumb-
ing before her enemys vastly superior
resources in men and materiel. Un-
less that help is forthcoming from
some friendly nation the Foreign Re-
lations Committees proposal for a
military loan will be of little
value. A Finland overrun by the Red
Army will have no opportunity to
draw upon the surplus products of
Americas farms and factories, which,
in accordance with President Roose-
velt's suggestion, is all that the
Brown bill in its present form offers
to them.
Nor does the Harrison bond issue
plan offer a satisfactory substitute
for the unrestricted loan which Fin
land so urgently needs. Careful in
quiries have indicated that the con-
templated bond issue would not be
taken up by American banking inter-
ests, and there is even less reason to
believe that the funds needed would
be realized in time from private sub
scriptions. Submission of the bond
issue would be friendly gesture
toward the Firms, but it could not be
expected to produce the assistance
that Finland must have If she is to
survive.
When the Brown bill is called up
on the Senate floor it is expected
that there will be a determined effort
to secure approval of an amendment
which would permit the Firms to use
the $20,000,000 loan for whatever pur-
poses they deem most necessary.
Consideration of such an amendment
will bring up for discussion the two
principal objections to such loan
that in some unspecified way it would
be violation of International law
and that it might tend to involve this
country in war. The Star believes
that these objections have no sub
stance when they are examined
realistically, and hopes that the pro-
ponents of the unrestricted loan will
be able to convince their colleagues
that America has a real and vital
interest in the preservation of DEM
ocratic Finland-an interest which
we should safeguard by granting tc
the Firms, without any restrictions
the loan they so desperately need.