Trent Wallis Photography

Anglo-American Loan Agreement 1945

by on Sep.11, 2021, under Uncategorized

I am discussing trade agreements with the honourable Member. I understand the U.S. argument about credit. They did not want to be Britain`s only creditor who had to reduce its loans and balances during the war. I welcome the very clear implications of these agreements, that it would be right and proper for Britain to insist on an adequate reduction of these war charges and that it is unreasonable for the Americans to be expected to pay large sums of money through the exchange, and not for the purpose of getting Britain back on its feet as a continuation. This is “a major interest of the United States, but to allow Britain to pay other creditors against whom Britain has a much higher moral right to simple treatment than against the United States. However, this is an issue that is in our hands and I will not go any further in this debate. It must be remembered that we have lived on foreign investment on which others have made efforts to produce interest on the money we have borrowed, thus contributing to the wealth of this country. No one knows better than my friend on the right, as a former Chancellor of the Timetable, what it means to stick to this box and rejoice in the amount paid into the budget by people around the world who, until now, had to pay interest on loans to Britain, to help the budget. John Maynard Keynes, then in poor health and about to die, was sent by the United Kingdom to the United States and Canada to get more money. .

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