DEFENCE OUTLAY

Gisborne Herald, Volume LXVI, Issue 19999, 26 July 1939, Page 6

DEFENCE OUTLAY

CREDITS TO POLAND ANGLO-FRENCH OFFER SYSTEM OF GEARANTEES REVIEW BY CHANCELLOR (Elec. Tel. Copyright—'United Tress Assn.) (British Oftieinl Wireless.) Reed. 1.30 p.m. RUGBY, July 25. Speaking in the House of Commons, the Chancellor of file Exchequer, Sir John Simon, made a statement regarding the financial negotiations which have been proceeding with the Polish delegation. "The discussions covered two separate matters.” said Sir John. "The first is in connection with export credits. Britain has offered to guarantee export credit's up to the amount of £8,000.000 in order to facilitate the purchase an Britain !by Poland of material necessary for its defence.

"Detailed arrangements which will have to be made are now 'being adjusted between -the Polish financial delegation and the Government department concerned. “Discussions have also been proceeding on the possibility of a cash loan to Poland by Britain and France, acting jointly. I regret that it has not been found possible to reach agreement as tc the conditions on which such a loan might ibe made available in time for the necessary legislation to he passed before the House rises.” Sir John Simon -added that the export credits would he to assist the purchases of material in the United Kingdom, -but that, as regards -the further question, France and Britain were entirely at one in being willing to -assist Poland in making the necessary purchases of munitions from other countries.