COLONIAL DEVELOPMENT
MEASURE WELCOMED BY LORDS.
(British Official Wireless.) Rugby, July 23.
Lord Passfield, Secretary tor tho Colonies, moved the second reading of tho Colonial Development Bill, which provides for the establishment of a Colonial Development Fmid. The fund will be fed by an annual grant from Parliament of such an amount as may be required but not exceeding £1,009,090 in any year. Advances from the fund will be made to Colonial Governments on the recommendation of an advisory committee which, Lord Passfield said, would be absolutely impartial. It would be a business committee and there would be no attempt to make it either a Treasury or a Colonial Office committee. Tho principal motive of the measure was connected with the lamentable condition of employment in Great Britain. It was hoped to stimulate British export trade by accelerating possible developments of Crown Colonies, Protectorates, and dependencies.
Tho measure was welcomed by Lords on both sides, of the House.
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Taranaki Daily News, 25 July 1929, Page 11
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158COLONIAL DEVELOPMENT Taranaki Daily News, 25 July 1929, Page 11
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