Down to Her Bottom Dollar

The British government last week drew the last $100 million of the $3.75 billion U.S. loan that was meant to last three to five years. It had lasted 20 months. "Now we have had it, and how much nearer are we?" moaned London's Financial Times. Britain now spends abroad $200 million a month more than she receives. At this rate she will soon exhaust the $656 million remainder of her Canadian, South African and International Monetary Fund loans. After that, if ERP does not work, the British will be forced to a still lower standard of living or to exhaustion of their gold reserves and a consequent collapse of the pound sterling.

Last week the British government was discussing further limitations in food and clothing. The Ministry of Labor's Parliamentary Secretary Ness Edwards jumped the official gun by telling a Manchester audience that Britons' clothing ration* would be cut again before winter (probably from 48 annual coupons per person to 42).

-Current British coupon rates: 1 pair stockings..... 3 coupons 1 cotton dress....... 7 coupons 1 pair shoes....... 7 coupons 1 woolen dress........ 11 coupons 1 suit......... 18 coupons

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