TRADE FACILITIES.
EXTENSION OF STATE LOANS. LOAN TO AUSTRIA. London, Dec. 7. Mr Stanley Baldwin, speaking in the House of Commons, moved the second reading of the Trade Facilities and Loans Guarantee Bill, which extends the Trtide Facilities Act for another year, granting £25,000,000 in loans to trade and also guaranteeing £27,000,000 to assist Austria. Mr Ramsay MacDonald said the Labour party sympathised with the Government’» efforts to pass the Bill to supplement the efforts to deal with unemployment. Mr Spender Clay moved the rejection of the Bill, which Air Hopkinson secondLord Stanley especially advocated rhe Bill’s scheme for aiding the development of cotton-growing in the Sudan, which vital to Lancashire. Lord Robert Cecil said the loan to Austria was a perfectly sound proposition and a great achievement by the League of Nations. Jt was the first practical step in setting Europe on its legs again. Mr J. C. Wedgwood argued that if the loan was to be a success Austria must become an agricultural and not an industrial State. The Bill was read the second time without a division.—(A. and N.Z.)
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Bibliographic details
Hawke's Bay Tribune, Volume XII, Issue 302, 9 December 1922, Page 3
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182TRADE FACILITIES. Hawke's Bay Tribune, Volume XII, Issue 302, 9 December 1922, Page 3
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