Word: loans
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Dates: during 1940-1949
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...immediate full production, their plan to socialize the Ruhr. In return they wanted a reduction in their share of the occupation bill. Ruhr production cannot be boosted until the Ruhr gets more food, housing, mining equipment, freight cars and locomotives. The British, who have spent 11% of their U.S. loan on German occupation costs, want a better deal than the 50-50 agreement with the U.S. on the cost of running western Germany...
...addition to relief from the 50-50 agreement, the British delegation, headed by Sir William Strang, was expected to ask Washington for relaxation on certain clauses in the loan agreement. The British wanted to continue empire trade preference and to protect dwindling dollar balances by restrictions on the convertibility of sterling into dollars. At best, such concessions could only relieve, not cure, Britain's economic ills. The circle of economic conferences came back to Paris' Grand Palais and the Marshall approach because of one appalling fact about the postwar world economy: Britain and other nations last year bought...
...more to the U.S., but it could never sell enough to close the gap. She could hope for European purchases, to be paid for in dollars, if the "Marshall approach" got under way. But that was a matter beyond Canada's control. The remaining alternatives were a U.S. loan, or a cut in U.S. imports...
Last week Canada was thinking quietly but hard about a loan of half a billion dollars as the best defense against U.S. dollar depletion. So long as Canadians generally believe that they can get U.S. dollars for business or travel, they are not likely to start a run on the Dominion's depleted supply. But if they should decide that the stock was dangerously low, they could start a run by stepping up their orders of U.S. goods, and getting U.S. dollars from Canadian banks to pay the bills. Ottawa's view is that with a half-billion...
...loan cannot be had, or fails to do the trick, the Government may have to restrict imports from...