AGRICULTURE IN EUROPE
LOANS FOR CULTIVATORS MORTGAGE CREDITS COMPANY. (British Official Wireless.) RUGBY, June 17. Referring in the House of Commons to the scheme of the International Agricultural Mortgage Credits Company, Mr Arthur Henderson (Foreign Secretary) said its purpose was to make loans on mortgage through the central banks to peasant cultivators in Central aud Eastern Europe, and, in particular, to assist them to change over from wheat growing to other forms of agricultural production. It was hoped to raise £19,000,000 in the various financial centres, of which £1,000,000 would be issued at the outset. In addition, a special reserve fund of £1,000,000 would be set up, to which all the Governments who were parties to the convention would contribute. The British share would be about £120,000. It was proposed that this reserve should be deposited with the Bank of International Settlements, and should bear interest, and in due course be repaid out of the company’s profits.
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Otago Daily Times, Issue 21365, 19 June 1931, Page 9
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157AGRICULTURE IN EUROPE Otago Daily Times, Issue 21365, 19 June 1931, Page 9
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