FROZEN FUNDS
AND WORLD WAR DEBTS POSSIBLE UNITED STATES ACTION. PAYMENTS MAY BE TAKEN (By Telegraph—Press Association—Copyright) (Received This Day. 1 p.m.) WASHINGTON, August 8. ■ Mr Morgenthau disclosed that the United States was considering taking world war debt payments from the frozen funds in the United States of France and other occupied countries. He announced that he was not taking action to free frozen credits until war debt questions had been settled. Mr Morgenthau did not refer specifically to world war debts, but a Treasury spokesman pointed out that these were the only outstanding loans. Mr Morgenthau said: “Until we know more of what is going to happen, and more about the debt question, we are sitting on these funds.” Asked whether the freezing applied to Germany. Mr Morgenthau said: “No. Any amount of money can be sent to Germany. It is silly, but we are at peace with Germany and cannot do anything about its funds.”
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Wairarapa Times-Age, 9 August 1940, Page 6
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157FROZEN FUNDS Wairarapa Times-Age, 9 August 1940, Page 6
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