BRITAIN’S USE OF CANADIAN LOANS IS TOO FAST
Dominion Calls a Halt
(Rec 10.40) WASHINGTON- April 13. It is learned authoritatively that Canada has informed the British Treasury that, as from tomorrow Britain will not be able to draw upon the unexpended balance of 1,250,000.000 dollars credit which was granted to her by Canada in 1946.
The balance stands at arp.-oxi-mately 250,000,000 lollars. The withdrawals by Britain will be suspended until further notice. A Canadian source explained today that. Britain’s withdrawals on her Canadian credit have been much faster than had been contemplated, and they had reduced Canada’s reserves to a dangerous degree.
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Grey River Argus, 15 April 1948, Page 5
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103BRITAIN’S USE OF CANADIAN LOANS IS TOO FAST Grey River Argus, 15 April 1948, Page 5
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