OUTLAY OF £20,000,000
BRITISH CONTRIBUTION CANADIAN INDUSTRIES U.S. ARMS FIRMS’. MOVE (Elec. Tel. Copyright—United Press Assn.) (Recci. Oct. 14, 9 a.m.) NEW YORK, Oct. 12. T'nc New York Times’ correspondent at Washington says he has learned from a reliable service that the British Government has allocated about £20,000,000 for the initial outlay on the industrial development of Canada. Concern is developing over the posibility of considerable American production being forced across the border if the embargo on the sales of arms and implements of war is not lifted.
It is asserted that there are no legal bars to American aeroplane and armament manufacturers who are organising limited companies under the Canadian laws and exporting from Canada and extending credits to the British Government.
A report from Ottawa says that the Canadian Finance Minister, Mr. Ralston, announced that the first war loan of £40,000,000 for two years at 2 per cent has already been accepted by the Canadian chartered banks.
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20068, 14 October 1939, Page 9
Word Count
159OUTLAY OF £20,000,000 Gisborne Herald, Volume LXVI, Issue 20068, 14 October 1939, Page 9
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