Evening star., 1945-08-25
Credit Sources
Left 10 British as
|Lease-LendE Ends
Export-Import Bonk,
30-Yeur Purchase
Plan Available
Ey the Associated Press.

BY the Associated Press.
Two avenues of credit in the
United States are open to Great
Britain to obtain continued sup
plies on termination of the lease
lend arrangement, it was pointed
out here today after British off,
cials and newspapers complained
over the sudden end of this war
time aid.
One is the expanded Export I'M
port Bank. The other lies in a
proviso of the Lease-Lend Act al
lowing nations, including Britain
to continue receiving goods con-
tracted for after VI day on pledges
to pay for them within 80 years
at rs per cent interest.
Congress earlier this year voted
to expand the lending powers of the
Export Import Bank from $70O ,OOO,-
900 to $500 00o, 900, an increase OF
$4,000, ,000. 900.
Possibility Of Loan.
Foreign Economic Administrator
Leo Crowley called attention to
these two available sources of aid
for Britain In commenting on the
declaration of Prime Minister Attlee
that the sudden end of lease lend
will leave Britain in a very serious
financial position" Mr.. Crowley
said lease-lend stops when VI day
Is proclaimed by President Truman
The financial delegation, headed
by Ambassador Lord Halifax, COM
ing to the United States soon TO
work things out" probably will dis
cover Britain must choose either
the Export-Import Bank or the 30
year provision in the lease lend law
for future aid.
There is always the possibility of
a multibillion dollar loan to Britain
During consideration Of the Export
Import Bank expansion and the
Breton Woods monetary plan in
Congress little more than a month
ago, there was talk of an outright
grant of from $1,000 900 900 to
$4,000. 900 900 to help pay a portion
OF the British debt.
Congress Must Approve.
But a grant or long term loan of
that magnitude would require ap-
proval of Congress and likely take
some time to arrange.
Within a few hours after Prime
Minister Attlee's statement in the
House Of Commons, Mr.. Crowley
recalled his public warnings that
lease-lend was strictly a wartime
operation.
Il had no discretion under the law
and under the promises made to
Congress and the American people
who have appropriated 40 million
dollars for this program" Mr.. Crow
ley said in an interview.
"The late President Roosevelt,
Mr.. Truman, as Vice President and
President, and myself, repeatedly
stated that lease-lend could not be
used for postwar rehabilitation and
reconstruction" he added.
If that promise had been broken,
1t might have "jeopardized the
whole authority we would need to
have" If the United States was to
use her financial resources to help
liberated nations in the postwar
period, he said.
Long Editorials on Subject.
Although the British government
stif1ed official comment that might
complicate negotiations with the
United States for credits to replace
lease lend, there was no such pro-
hibition on the press and public.
Nearly every London newspaper
printed long editorials. The uues-
ton was taken up in the pubs, in
the clubs and on street corners.
The Conservative Daily Express
commented that the United States
did only what "it was entitled to
do" and this was echoed by many
(See LEASE-LEND Page All