Evening star., 1945-09-18
Five Nations Seekinq
JUS. Loans; Reaction
10 Russia Varied
BY JOSEPH H. BAIRD.

States as the worlds banker
was emphasized today when it
developed that five nations have
obtained or are attempting to
get loans or credits here.
These five are Soviet Russia,
Great Britain, Belgium. Greece and
Ecuador. France already has ar
ranged for credits, but Is expected to
ask for more.
Reports from Moscow that Pre-
mier Stain had informed an Amer
ican congressional delegation the
Soviet Union would like to borrow
Sc 900 900 900 from the United States
to finance internal reconstruction
met a varied reception in Congress.
Some legislators held that before
such a loan Is granted Moscow
should open its books" and show its
true financial picture.
The Soviet Union always has
made a state secret of the amount
Of its gold production and reserves,
which are understood to run into
the billions OF dollars.
George Favors Trade Guarantees.
Chairman George Of the Senate
Finance Committee told reporters
loan of any amount to Russia
should be preceded by guarantees
that America would receive real
consideration in the economic field" "
meaning particularly Russian trade.
Il think Congress is going to move
cautiously in this matter" he said.
Senator Taft, Republican, of Ohio,
noted that the Soviet Union has
arranged for a 81 l,000, ,000, 900 credit
from the Export-Import Bank and
can eventually draw up to 81 ,200,-
600, 900 in credits from the inter-
national monetary fund set up at
Breton Woods.
AT least" he said, they are ask
ing for loan and not just an out
right grant as the British seem
to be doing"
Mrs. Luce Wants to See Books.
Representative Clare Boothe Luce.
Republican, of Connecticut COM
mented:
If Uncle Joe (Stalin) will open
up his books to us, it might be this
will be a good investment or it
might show that it will be terrible
risk
She added that Russia, to show
its good faith, should open its bor-
ders Immediately to American re-
porters, businessmen and others.
Senator Lucas, Democrat, OF Illi-
nois, member of the Senate Finance
Committee, said he thought a loan
to Russia would be pretty SAFE"
adding:
They have what 1t takes and
should be able to repay 1t with rea-
sonable interest"
Premier Stain, according to at
Associated Press dispatch from Mos
cow, told the American legislators
Russia needs economic aid to repair
war damage and raise its living
standard over period of years.
The group plans to report to Con-
gress when it returns here. After
talking with the whole delegation,
the Premier held a private CONVEX
sation with Senator Pepper, Demo-
crat, Of Florida, to whom he re-
portedly sketched Russia's plans for
rehabilitation.
Keynes Outlines Position.
Meanwhile, Lord Keynes, British
treasury expert, continued late yes
terday his outline of Britain's finan-
cial position to the American nego-
tiators, headed by Assistant Secre-
tary Of State Clayton. The British
are seeking between $4,000, 900 900
and $4,000, 900 900 here.
An indication that there may be
opposition in Britain to granting
United States trade favors In return
for financial aid was seen in
speech, reported by the Associated
Press, by George Gibson, former
president Of the British Trades Un-
ion Congress. He said his country
should not accept a dollar unless it
retained absolute control over the
use and disposal Of an American
loan.
However well intentioned the
American Treasury is" he said, II
have not the slightest doubt the
American businessman would rapid
ly follow up q loan by invasion Of
the Indian and Dominion markets.
American officials hold there Is
little chance of getting q monetary
advance to the British through Con-
gress unless it Is accompanied by 4
breakdown in the empire prefer
ence" tariff system and other steps
designed to liberalize international
trade.
May Get Ecuador Bases.
Meanwhile, it was learned that
the United States Is considering a
SIS, 900 900 loan to Ecuador in re-
turn for that country's agreement
to the establishment Of q permanent
American naval base in the Gala
pagos Islands and ut Salinas to pro-
tect the Panama Canal. Tenn
porary wartime bases have been
built in both places. Ecuador would
use the funds for road building.
An Associated Press report from
Athens said the United States had
notified Greece the Export-Import
Bank had opened a $3.50, 900, 900
credit In its favor. Greece plans to
place orders Immediately for $20,-
900, 900 worth of bridge and road
building material in the United
States. The credits will be repay
able over 30 years at 2as per cent in
terest.
Foreign Minister Henri van Spaak
OF Belgium is here to negotiate a
lease-lend settlement with Ameri-
can on1cials and look into the pos
sibility Of obtaining postwar credits.
Rel1illrn has MT annna,nnaS 4h>