Evening star., 1940-03-02
New Loan Will HeIp
Finland Greatly,
Procope Says
Minister Is Optimistic
As He Speeds Plans
For Using Credit
By GARNETT D. HoRNER,


Finland, fighting on against Rus
sian invaders with an unbeaten
spirit and the conviction that she
will get adequate help from the out
side sooner or later, sped arrange
ments today to buy vital non-mili-
tary supplies here with new $780,
100000 credit from the Export-Im-
port Bank.
Don't think that because the
Finnish forces have retreated some
and suffered some reverses that we
are beaten" Finnish Minister HAL
mar j. Procope told press confer
ence at the Legation late yesterday
after transatlantic telephone talk
with his prime minister.
Most of you thought three months
ago that we would be beaten in two
or three days, but we are still fight
Ing" he added. Even If we have
to retreat little more we still will
have strong lines of defense and will
keep on fighting, convinced that
help will come sooner or later.
mo one can help us so much
without going into war as the United
States"
New 100000 Credit.
He said that gasoline, oil, wheat,
lard and other supplies to be bought
with the new $4,000, 900 credit al
located Finland by the Export-Im-
port Bank even before President
Roosevelt had signed legislation
making possible the loan, would be
Of great assistance to his country.
In addition to these civilian COM
modities which can be bought with
the Government loan funds, Fin
land also needs airplanes, artillery
and ammunition and is buying large
quantities of these war materiels
here with her own funds, Mr.. Pro-
cope added.
Both Mr.. Procope and Col. Per
ZilliacuS, Finnish military attache,
emphasized that current reverses to
the Finnish forces on the Karelian
Isthmus were not OF vital impor-
tance.
There are two ways to fight a
war" Col Zilliacus said. you can
hold ground and sacrifice your peo-
pie. or sacrifice ground to a certain
extent and save your people. We
have lots of ground and few people
and so are sacrificing some ground" "
He added that the Russian in
vaders had an even harder job ahead
than they had faced so far in the
way of terrain, with hundreds of
lakes and hilly, rocky, wooded
ground ahead of them.
Roads Bad in Sprinx.
Furthermore, he said, spring
would provide new difficulties for
the Russians. With the breaking up
Of ice and the melting of SHOWS
the last Of April, Finland's roads
will be virtually impossible for a
month or so. increasing the dim
culties Of an attacking army.
Mr.. Procope said there scarcely
was one place in Finland that had
not been bombed by the Russians
with absolutely no military goals
to achieve" The Finnish civilians
killed or wounded total between
1000 and 5000. he added. @ss,r-,
He and Col. Zilliacus said theydid
not know definitely why Finnish
planes had not bombed Leningrad
In retaliation. Col. Zilliacus said it
was an important strategical point
for bombing, but assumed that the
Finnish Army leaders were not will
ing to risk the loss of planes on such
q venture until they were sure they
could do the job effectively.
Swedish Loan Approved.
Jesse H. Jones, the Federal Loan
administrator. announced the new
credit ALLEGATION to Finland yester-
day and at the same time disclosed
that the Export-Import Bank had
allocated $15,O00,000 to the Bank OF
Sweden to finance American exports
to that country and had confirmed
q previously-announced $4,000, ,O0C
loan to Norway.
He said President Roosevelt, who
has been away from the Capital or
q sea-going vacation, had advised
him he would sign the measure by
which Congress authorized a $780,.
100000 increase in the banks capt.
talization.
The agency which is making the
advances was created six years age
to help trade with Russia.
Warren Lee Pierson, the 42-year.
old Los Angeles lawyer who head!
the bank, grinned as he reviewed
the turnabout since then.
"I can still remember workint
With Bill Bullitt (then United State.
Ambassador to Russia and now Am.
1assador to France) on the presi.
Dental order setting up the bank il
1884," he said.
Never Got Around to 1t.
"We were recognizing Russia ane
expected to do lot of trading with
them and figured this bank woule
help finance the business.
Somehow, we never got arount
to loaning any money to Russia
Weren't we lucky?"
The bank now has three mair
credit lines-Finland and Scandi
nAvia, Latin America and China.
Under the new law, the bank car
have 10000, 900 of loans outstand
ing at any one time. With the new
Finnish loan and the $4,000, ,00'
credit given Sweden at the sam,
time, the banks loans now amour
to about 500, ,00O,00O
Mr.. Pierson indicated that Sweder
will get more, Denmark is in line
China may get as much as 10000,
90O-maximum loan which may b.
made to any one country out of tn,
pew money-more, and Latin Amer
lea is slated for generous considera
ton. :.
w. n