860D.51/5–247: Airgram
The Minister in Finland (Hamilton) to the Secretary of State
A–177. The following data was given April 29, 1947 by Mr. Nykopp, head of the Commercial Department of the Foreign Office, relative to the current status of credits obtained by Finland from abroad.
U.S.A.
Of the first cotton credit of $5,000,000, 4.9 million has been used. The new cotton credit of $2,000,000 granted early this year has not yet been touched.
The $35,000,000 credit of January 1946 has been entirely used. Of the $10,000,000 credit granted January 1947 for food products needed during the current year, 5.6 million or slightly over half has been used. Of the $20,000,000 credit granted last January only $1,000,000 has been used. The delay in using this credit is owing to the fact that it will be used largely for machinery, the purchase of which is a longtime affair, and of petroleum products which will begin to arrive soon with the current reopening of the shipping season.
[Data on the current status of credits obtained by Finland from Brazil and Argentina are omitted.]