Evening star., 1945-09-13
Economic
Continued From First Page.l


the British will offer in return, and
this is being considered in the con-
ferences.
The British will base their case
for obtaining financial aid vary
ing between $3,O00,0 100000 and
5000, 900 900 from the United States
on the proposition that it Is vital
not only to the prosperity of the
United Kingdom but also to that Of
this country and the democratic
world.
Position Clarified.
That was made clear at the press
conference at the British Embassy
late yesterday where Lord Halifax
and Lord Keynes outlined their
country's position. They spoke be-
fore more than 100 newspapermen.
Meanwhile, the British planned
to meet today with Assistant
Secretary of State Clayton and his
advisers to outline their position
A brief organizational meeting was
held Tuesday afternoon, but today's
session will mark the actual open
ing of negotiations which are ex-
pected to last about a month.
Both Lord Halifax and Lord
Keynes stressed that London is not
seeking commercial credit similar
to the $4,000, ,000, 900 advanced Great
Britain during the World War,
which led to years of friction be-
tween the two nations. They were
less specific when asked If London
sought a grant-in-aid, and Lord
Keynes said that no definite re-
quest would be placed before Ameri-
can officials until Britain's eco
nomic and financial position had
been reviewed with them thoroughly
Oppose Commercial Credit.
"We have no intention" said Lord
Halifax, "of coming to the United
States as suppliants and asking
them to accept any arrangements
to help us which they do not honest
ly feel to be in the best interest OF
the United States and the rest of
the world"
Later he declared, with reference
to commercial loan:
1--WE have no intention of accept
ing obligations which we do not
see our way clear to discharge"
Observers pointed out that be-
tween the extremes of a CONNER
cial loan and a monetary grant
in-aid are several other methods
by which Britain's postwar recov-
cry might be aided. One might
be a grant of surplus lease-lend
stocks.
Another might be the retroactive
placing of some $500, 100000 in
cash spent by the British for pur-
chaSes here on lease-lend basis.
A number Of such expedients which
would circumvent congressional OBJ
Jections to an outright monetary
grant are understood to be under
consideration.
Several Plans Considered,
The wide variation between the
$4,000, 900, 900 and $4,000, 200, 900 fig
~ ~ "AAASAA AoAo 1ACyAlCo, Ill ICply W
a question, said marked the boun-
daries of what Britain sought, is ex-
planned by the fact that several
different plans of recovery are un-
der consideration, requiring differ
ing amounts of assistance.
The Treasury expert outlined his
country's present dilemma, in SUBJ
stance, as follows:
AS result of the severe wartime
depletion of Britain's monetary re-
serves, foreign trade and capital
equipment, London finds itself faced
with two choices. It can get along
as best it can with the resources at
its command, depending on the va
rious defensive trade measures
which have been developed by war
time controls. This would mean
matching imports from each coun-
try by exports to it.
The other, dependent on aid from
the United States, would be a
speedy return to normal trade prac-
tices without discrimination and
with increased freedom in CONNER
cial and tariff policies.