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Bill to Grant $100,000,000 Loan to Israel Introduced in House of Representatives

May 27, 1948
See Original Daily Bulletin From This Date
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Rep. Jacob K. Javits of New York today introduced a bill in the House to authorize a loan of $100,000,000 to provide military supplies and technical assistance for Israel “to preserve and maintain Israel’s independence.”

The bill provides for the assignment of technical and military personnel, permits American arms to be shipped on a lend-lease basis, and provides for American ships to carry them to Palestine. It also contemplates that a U.S military mission would operate in Israel as it does in Greece.

Treasury Secretary John Snyder told a press conference today that if there is to be a loan to Israel the application would have to be reviewed and passed upon by the National Advisory Council which supervises all foreign lending programs. He said the N.A.C. had neither received an application for such a loan nor given any study to the possibility of one.

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