EUROPEAN UNION
ASSISTANCE TO PEASANT CULTIVATORS INTERNATIONAL SCHEME BRITISH PARTICIPATION (British Official Wireless) RUGBY, 17th June. Referring in the House of Commons to ;i scheme for an international agricultural mortgage credits company which arose on the discussions of the Commission of a European Union. Mr Henderson said its purpose was to make loans on mortgage through central banks to peasant cultivators in Central and Eastern Europe, and in particular to assist them to change over from wheat growing to other forms of agricultural production.
It is hoped to raise £10,000,000 in various financial centres, of which £1,000,000 will be issued at the outset. In addition a special reserve fund of £1,000,000 is to he sot up to which all Governments and parties to (lie convention will contribute. The British share will be about £120,000. It is proposed that this reserve be deposited with the Bank of International Settlements, that it should bear interest, and in due course be repaid out of the company’s profits.
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Nelson Evening Mail, Volume LXIV, 18 June 1931, Page 5
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164EUROPEAN UNION Nelson Evening Mail, Volume LXIV, 18 June 1931, Page 5
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