FH
This telegram must be                        London
closely paraphrased be-
for being communicated                     Dated April 3, 1941
to anyone.   (D)
                                             Rec'd 8:50 p.m.
 
Secretary of State,
 
     Washington.
 
     RUSH.
 
     1309, April 3, 9 p.m. (SECTION THREE).
 
     Keynes who is associated with the Treasury made
 
the point to me that he thought the the situation was clouded
 
at the end of the last war because it appeared that
 
England had used our credits for other than war materials
 
purchased in America.  For that reason he thought it
 
would be much better all around if we should confine
 
the Lease-Lend Bill rather generous in taking care of
 
such materials so as to make it possible for Britain to
 
meet other obligations on her own responsibility.
 
     There is another subject akin to this.  It affects
 
directly the use of British manpower and indirectly our
 
own financial policy.  I am told in spite of curtailment
 
in British exports there are probably not far short of
 
1,000,000 persons engaged in the export trade and even
 
a considerable number of these are still engaged in the 
 
                                            engineering