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'Final payment of Canadian war loan'. 'Britain Repays Canadian Loan. Sir Seville...

Catalogue reference: INF 14/431

What’s it about?

This record is about the 'Final payment of Canadian war loan'. 'Britain Repays Canadian Loan. Sir Seville... dating from 1958 in the series Ministry of Information and Central Office of Information: Publications Division:.... It is held at The National Archives, Kew.

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Full description and record details

Reference
INF 14/431
Date
1958
Description

'Final payment of Canadian war loan'. 'Britain Repays Canadian Loan. Sir Seville Garner, K.C.M.G., the United Kingdom High Commissioner in Canada (right) hands over a cheque for $7.5m to Mr. Donald Fleming, the Canadian Minister of Finance at a ceremony in Ottawa recently. The cheque was the final payment on the $700m interest free loan which was first arranged in 1942 with the Canadian Government. The loan represented a funding of advances made to the United Kingdom in the war-time period preceding arrangements for Mutual Aid. The loan was reduced to about $189m by June 1953 through crediting dollars received by United Kingdom holders of Canadian securities either on voluntary sale or redemption. In 1953, a new arrangement released the United Kingdom from the need to apply the net proceeds of sales or redemptions of Canadian securities. An immediate lump sum payment reduced the outstanding loan to $150m, repayable in 20 equal quarterly payments.'

Held by
The National Archives, Kew
Former department reference
Photograph No. ZZZ 80042H
Legal status
Public Record(s)
Physical description
1 photograph(s)
Restrictions on use
Some photographs may remain in copyright
Access conditions
Open Immediately
Closure status
Open Document, Open Description
Subjects
Topics
Aid and development
Official publications
Americas
Banking
Record URL
https://beta.nationalarchives.gov.uk/catalogue/id/C1383582/

Series information

INF 14

Ministry of Information and Central Office of Information: Publications Division:...

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Over 27 million records

This record is held at The National Archives, Kew

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Within the department: INF

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Within the series: INF 14

Ministry of Information and Central Office of Information: Publications Division:...

You are currently looking at the piece: INF 14/431

'Final payment of Canadian war loan'. 'Britain Repays Canadian Loan. Sir Seville...

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