Show WEEKLY NEWS ANALYSIS British Ask Special Loan Favors Senate Rejects Economy Measure GIs GI's Apply for War Risk Rebates olm the Sr an thou 0 sI f au are le III hee he water NOTE UI whee h sews aed II net f et this newspaper BRITISH LOAN True to Form the talks got fully Even before rills underway the trend of f the dIscussion dIs Ameri concerning can finance deals was becoming familiarly clear TIlE THE PROBLEM was wan Britain's Britain s current financial crisis The hope S. S procedure as 81 it rested with U. U U. U St assistance That the U. U 5 S. affects a was thoroughly under the spell of British need and persuasion was statement that this shown in the government is hospitable to a proposal proposal pro pro- proposal to relax terms of ot the British loan pact Under the current preliminary proposal the U. U S. S would grant Britain Arltain permission to discriminate temporarily 0 against g a Ins t American g goods Under the British loan ton pact Britain got billion dollars from the United States in return for tor a promise to treat American exports the same as those from British empire empire em em- pire countries and Europe Now the British want that requirement re reo requirement re- re knocked out Heres Here's how bow the British plan would work BRITAIN could for instance refuse refuse re reo fuse to license British buyers who I want to buy American goods but it could give open licenses to who for example wanted wanted want want- ed cd to import Italian goods Since the Italian imports could be purchased purchased pur pur- chased with with sterling this would save Britain dollars Thus with the monetary talks hardly underway the British are asking a double burden of the American taxpayer taxpayer money money from the taxpayer to solve Britain's economic economIc economic eco eco- eco eco- problem while at ot the same time setting up what amounts to a boycott of American Imports which will wiD further cost the American taxpayer taxpayer tax tax- payer if he happens to be one of the businessmen affected effected by the ruling And as the pattern seems to be officials were reported favorable to the British proposal and and too were too were planning to pass by-pass congress hi in implementing that approval Pioneered in U U. U S. S Many Americans believe precision is an exclusively Swiss craft croft Hence the small but bu t lusty US U.S. jeweled watch Industry y delights in 10 pointing out that basic production methods now used b by bythe bythe Y the Swiss were developed here a century ago and that this AmerIcan American American Amer ican system was adopted by the Swiss about 1875 Two years ago American craftsmen craftsmen crafts crafts- men proved they hadn't lost their ingenuity An Elgin Ill m. watch manufacturer introduced a rustproof rustproof rust rust- p proof r o o f proof acid r mainspring which was called the most revolutionary advance in 10 since introduction of jeweled bearings years ago Now b by way of improving on perfection the same factory announces an an- flounces its technicians have learned bow how to squeeze every last ounce of power out of the wonder-alloy wonder mainspring Tb Their method was to eliminate the conventional annealed arbor end of the spring which had always been d dead ad unproductive weight By pre pre forming the arbor end possible pos pos- sible aible only with the new alloy they have put the entire length of the spring to work The result A longer long long- er run of the watch between windings wind wind- ings hence a boon to lazy and forgetful forgetful for for- thumbs and forefingers 1 I DIVIDEND Rebate For Gl's GIs The federal government in one of the most amazingly simple forms ever to come out of Washing ton was receiving applications from World War II veterans for rebates on GI CI Insurance premiums REJOICING over the windfall surprised and delighted with the simple application form torm veterans were flooding the mails malls with their application cards Its Us like finding money on the street street one veteran declared The dividend payments from na life Ufe Insurance surplus funds are to be made to persons who hold bold or have held helel these policies The average payment Is estimated at To be eligible for a rebate the veteran must have had his bis service life insurance In force torce at least 90 SO days The dividend would not be issued on any service life ille Insurance Issued after December 31 31 1947 1941 Touched Off Ott Probe i V gas gask k V 1 Aw Cedric Worth special assistant to Navy Undersecretary D. D A. A 1 Kimball Is 15 shown sho as 85 ho he appeared appeared ap ap- pea red before the house committee committee committee com com- Investigating the tho B 36 bomber program It was Worth who vho touched off oft the probe He lie admitted writing the document containing s serious e r i Iou o u s charges a against g a I Ins n s t Defense Secretary Johnson and former air force secretary Symington SPENDING Slash Rejected The United States senate stood firm in fa support of President Truman's Tru Tru- Truman's mans man's estimate of the financial needs of the nation for the next fiscal year A move to force the President to slash federal spending to a level 5 8 to 10 per cent below his advance Estimates was defeated But the margin was only three votes The economy amendment had it carried would have required the President to hold spending for the current fiscal year some two billion to four tour billion dollars below the estimates he be made last January FOES of the proposed economy asserted it amounted to passing the economy buck to the President Supporters of the amendment answered an an- answered that the President was in better position than anyone else to determine where to cut After the decision on this issue the senate passed by a voice vote a 1480 HBO billion dollar doUar appropriation bill to pay for national defense defense- the cost of the army navy and air force This was million less however than President Truman had asked IN OPPOSING ING the economy ben sen scott Lucas majority floor leader said the amendment was a political gesture an at tempt to tell the President to do what congress lacked the courage to do He asked If economy supporters sup sup- porters would impeach him if Mr Truman failed to save as much muchas as ordered On the contrary contended Sen ator McClellan of Arkansas it is sound legislation necessary in the public welfare and failure to balance balance balance bal bal- ance the budget or hold the deficit to the minimum this amendment makes possible may well prove to be a stupid and dangerous blunder TELEVISION Color Must Wait For those who want color in television there were four more years of waiting walting That was the expressed conviction conviction tion of a television manufacturer Benjamin Abrams He Ha said that while color television had been demonstrated successfully it still is in 10 the laboratory stage and it will be years before it is available for the general public He then estimated es es- es the waiting time as four years Abrams said that at the tile present stage of development of color television tele tele- vision he did cUd not believe could turn out adapters adapter for tor less than to oo And be he eat esti mated a set built especially for color would cost 1000 He lie declared present sets would not become obsolete even with the advent of ot color But Dut he said widespread wide wide- spread interest aroused by the tho FCC exploration of color television was causing some lome prospective custom ers era to postpone buying sets lets Abrams took issue with charges that manufacturers are deliberate ly Jy holding back color video He de do- cIa Glared red it 1 would be in the manu menu own interest to bring out color sets quickly if produce they ther could them at prices range of the general within public Summing up p he said laid You cant can't push puh a button and have bave vision color television tele tele- appear over night |