AMERICAN AID

Gisborne Herald, Volume LXVI, Issue 20116, 9 December 1939, Page 5

AMERICAN AID

SUGGESTION OF LOAN DEBT MORATORIUM RED CROSS ACTIVITY MEDICAL SUPPLIES (Elec. Tel. Copyright—United Press Assn.) tßoed. Dec. 9, 9 a.m.) 'NEW YORK, Dec. 8. The Secretary of the United States Treasury, Mr. Henry Morgen than, -stated that the United States-Finnish negotiations for a loan through the Import and Export .Bank were toeing continued. (He added that the instalment c.f the Finnish iwar debt payable on December (15, /would toe placed in a suspense account pending a decision by Congress as to h-ow it should toe made available to Finland. It is confirmed that if Finland asked for a two-year moratorium, it would be granted. The Washington -correspondent of the INew York Times says that the proposed loan to Finland is variously estimated at £1,000,000 to £-6,000,000. (It will probably cover only nonwar materials and may have to await action toy Congress on the request of the loan -administrator, Mr. Jones, -for -the replenishment of the banks’ capital. The Red Cross Society is shipping to Finland 50,000 -surgical dressings, clothing and knitted goods. Of the £200,000 appropriated for general relief purposes in -Europe, '£55,400 has been spent on medicine and sur-gical and other supplies. An additional £50,000 .will go to aiding victims of the German occupied areas of Poland. FRENCH CENSURE RUSSIAN OUTRAGE DALADIER EMPHATIC (Reed. Dec. 9, 12 noon) LONDON, Dec. 8.

A Paris message states that the French Premier, M. Daladier, speaking in the Chamber of Deputies, said that the invasion of Finland was an ‘‘abominable outrage.” He assured Finland of the profound sympathy ol France and said that the French Government was going to Geneva to answer Finland’s appeal.

A message from Madrid states that the Government of Spain has expressed sympathy with Finland in her light against Russia’s "barbaric invasion.”

STRENGTH OF ALLIES VAST GOLD HOLDINGS FUNDS IN AMERICA (Reed. Dec. 9, 9 a.m.) .WASHINGTON, Dee. 8. A report issued .by the Federal Reserve Board reveals that Britain and .France at present control approximately half of all the foreign holdings of the gold and dollar resources of the United States. It is pointed out that the refusal in the 'term's of the Neutrality Act's of credit is largely offset (by the great value of the disposable international resources of the ‘belligerents, these being probably double the amount in (1914. Greater readiness to use the gold reserves .for war purposes, coupled with 'the relatively high level of gold production and the gold reserves represent important factors in the buying power of -the Allies. The report shows the tremendously-enhanced cash .position of Britain and France and emphasises the relative weakness of Germany. The following table included with the report shows the position as at August 31, the figures covering the gold holding's and dollar balances and securities:— £ United Kingdom 846,000,000 France 745,000,000 Canada 326,000,000 Total, Britain and France '1,966,000,000 Germany 32,000,000 Soviet 200,000,000 CLAIM NOT VALID GERMAN LIQUIDATOR U.S. JEWISH FIRMS (Reed. Dec. 9, 9 a.m.) NEW YORK, Dec. 7. The Supreme Court has ruled that no American court will recognise the validity of claims of German-ap-pointed liquidators of Jewish firms to debts owed by Americans and has denied on American firm’s /motion for permission to pay the court money admittedly owed to an Austrian firm and now claimed by both-ejx.-members of the firm and the firm's German liquidator.

BRITISH ROAD TOLL WARTIME FATALITIES DOUBLE PEACE FIGURE (Reed. Dec. 9, 9 a m.) LONDON, Dec. t Three thousand people have been killed in Britain in road accidents during the war, which is double the peace-time figure. It is pointed out that if the rate continues for three years the deathroll will reach 40,000, equivalent to a whole army corps.