ALMIGHTY DOLLAR

Wairarapa Times-Age, 29 January 1941, Page 6

ALMIGHTY DOLLAR

v BEARING ON THE ALLIED WAR EFFORT _ ‘ * MR. MORGENTHAU'S TESTIMONY. NEED OF PASSING BILL. i Ry Telegraph—Press Association—Copyright) (Received This Day. 11.50 a.m.) WASHINGTON. January 28. I The Secretary to the Treasury (Mr Morgenthau). testifying before the Senate Foreign Affairs Committee. said Britain. Greece and China "cannot continue to fight" unless Congress passes the Aid to Britain Bill. He indicated an api praisal based on the inability of Britain. Greece and China to raise i dollars to make further purchases from the United States. "Congress.” he said, "must weigh very seriously the question whether it. wants Britain. Greece and China to continue to fight. If the Bill does not pass, they cannot continue to fight." Senator Nye asked whether (he British Government had said as much, to which Mr. Morgenthau replied: "Not in so many words, but that is the situation." NEW ORDERS PRODUCTION CAPACITY AVAILABLE. BUT’FUNDS TO BE FOUND. (Received This Day. 12.15 p.m.) WASHINGTON. January 28. Mr Morgenthau told the Senate Committee that Mr Knudsen was seek-1 ing ways to place a new British order! for 2000 warplanes, for which production capacity was available but for which Britain had not funds. Plants had already been tooled for the British type of planes from funds previously provided by Britain and Franco. Replying to questions, Mr Morgenthau declared that he had abandoned hope that Britain would ever pay the World War debt. He admitted that She Bill would permit President Roose-i veil to give away as well as to lend} or lease munitions, and said the Brit-j ish "just haven't got the dollars" to! meet the cost or war orders to the j United Stales beyond those already' placed They have to liquidate all securities and holdings of property toj meet obligations amounting io 1,400,-1, 000,000 dollars. .Mr Morgenthau disclosed that French! ' frozen assets in the United States Iota! 1,593 million dollars. Mr. Morgenthau replied affirmatively L to Senator Connally's question whether it was true that "not a dime of Arnerican moneys had been supplied to Bri- ‘ lam and that the British had paid hard cash for all war materials." . t Senator Connally said that as a mat-' . ter of fact the United States was not w aiding Britain at all. "The British.” he I j added, "simply buy from our manufac- I ‘ turers who make a profit on the}? jrdei s." Mr. Morgenthau: "That's correct." } Senator Connally: That's the ideal some people have of all possible aid fori Britain."