WAR FINANCE
NEW POWERS FOR U.S.A. ADMINISTRATOR. (By Telegraph—Press Association—Copyright! (Received This Day, 11.15 a.m.) WASHINGTON, May 8. . Mr Jesse Jones, Federal Loan Administrator, has asked Congress for legislation- permitting the Reconstruction Finance Corporation to lend money to the British Government against holdings of United States securities, increasing the R.F.C. borrowing power by 1.500 million dollars, authorising the creation of additional corporations to engage in varied activities, such as financing pilots while they are being trained and laying down Governmentowned external air lines, as in Latin America. Mr Jones explained that the proposed Bill would enable him to forestall the liquidation of British holdings of American securities and British investments at distress prices. A desire that Britain should retain ownership of some holdings here, while using collaterals to pay for armaments, was indicated last month, when the R.F.C. authorised a loan of forty million dollars.
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Wairarapa Times-Age, 9 May 1941, Page 5
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145WAR FINANCE Wairarapa Times-Age, 9 May 1941, Page 5
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