AMERICAN LOAN
GRANTED TO BRITAIN ASSISTANCE IN PAYING FOR SUPPLIES. BOUGHT BEFORE PASSAGE OF LEASE-AND-LEND ACT. (British Official Wireless.) LONDON, July 22. The United States is to lend Britain 425,000.000 dollars to help to pay for supplies ordered from the United States before the Lease and Lend Act was passed. The loan has been announced in London and Washington, and is to be made by the Reconstruction Finance Corporation with the approval of the President and the Federal loan administrator. The loan bears interest at 3 per cent, and matures in 15 years. An extension for five years may be made if two-thirds of the capital is repaid by the end of 15 years. Britain has furnished security. The House of Commons is to be asked to pass legislation approving the loan as a matter of urgency.
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https://paperspast.natlib.govt.nz/newspapers/WAITA19410723.2.32
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Wairarapa Times-Age, 23 July 1941, Page 5
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137AMERICAN LOAN Wairarapa Times-Age, 23 July 1941, Page 5
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