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INDIAN TRADE

(LOVF.RNMKNT ASSISTANCI PROMISED.

Press Association—By Telegraph—Copyright,

DELHI. January 5 Received January 6. at 8.55 a.in.)

The Government, of India, after a conference with banking representatives from the various provinces to consider the cotton situation, have issued a (statement recommending that advice he immediately ■given to cultivators to curtail cultivation coiisidovahlv in 1915.

As regards financial remedies, they rejected ail proposals that the Government should intervene to support a minimum price, but with a view to encouraging a. revival in trade they announce that the Presidency Bank will lie prepared to take a liberal attitude in making partial readvances. the Government, in their turn being prepared to make loans to the Presidency Bank to a. moderate extent, such loans to be for the assistance of trade generally, and not the cotton nade only. The fund? required will lie obtained by temporarily increasing the fiduciary portion of the note reserve.

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https://paperspast.natlib.govt.nz/newspapers/ESD19150106.2.59

Bibliographic details

INDIAN TRADE, Issue 15693, 6 January 1915

Word Count
150

INDIAN TRADE Issue 15693, 6 January 1915

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