BRITISH POLITICS.

Press, Volume LVIII, Issue 17632, 8 December 1922, Page 8

BRITISH POLITICS.

TRADE FACILITIES ACT. AID TOR AUSTRIA. iHy Cable —Press Association—Copyright.) (Australian and K.Z. Cable "Association.) (Received December 7tb, 8.35 p.m.) LONDON, December 6. Mr Stanley Baldwin, Chancellor of the Exchequer, in the House of Commons, moved the second reading of the Trade Facilities and Loans Guarantee Bill, which extends the Trudo Facilities Act for another year, granting £25,000,000 in loans to trade and also guaranteeing the loan of £27,000,000 to assist Austria. Mr Ramsay Macdonald said tho Labour Party sympathised with the Government's efforts to pass the Bill to supplement its efforts to deal with unemployment. Mr H. H. Spender-Clay (Conservative), moved the rejection of the Bill. Mr A. Hopkinson (Liberal), seconded this. Lord Stanley specially advocated tho scheme in the Bill for aiding the developoment of cotton-grow-ing in the Soudan which was vital to Lancashire. Lord Robert Cecil said the loan to Austria was a perfectly sound proposition. It was a great achievement by the League of Nations and the first practical stop in setting Europe on its legs again. Mr J. C. Wedgwood (Labour), argued that if the loan was to bo successful, Austria must become an agricultural and not an industrial State. The Bill was read a second time without, a o'ivision.