MISCELLANEOUS

Hokitika Guardian, 11 March 1921, Page 1

MISCELLANEOUS

SUSTUALIAN ANI) N.Z. CABLE ASSOCIATION

lUMTISH (iOVKKXMENT SCHKMK. LONDON, Mni'cfl 10. Sir Hubert Horne, in the House of Commons, explained the (government s various export credit schemes. He said that under the existing arrangements the Government required importers in necessitous countries to lodge at least one hundred per cent security m local currency. The Government then advanced the exporter his full costs at tiio ssi 11 ic time guaranteeing him SO per. cent n gainst- .loss. Hitherto exporters had applied for an advance of two millions. The Government actually had advanced £IOO,OOO. The Government had failed to carry through th,. modified Termeuleu scheme (cabled on January (ith). owing to the withdrawal of the insurance companies from it. Tien the Government had tried to carry out the Termeuleu scheme with the bankers. The latter agreed, but it "ouid take considerable time. The Government accordingly had developed its own scheme which would he operable sooner. Sir R. Horne stated that the Government now proposed, instead of advancing the export costs to guarantee up m 8b per. cent of the cost price to ih c buyer, who would he required to find at least -,<) per cent, the Government taking half the uncovered risk, lliis would enable the exporter to arrange with the banks in the ordinary wav. He added that the Government •onsidered such faeilites should be granted not merely to the derelict European countries,‘hut to the British Dominions, where business would he equally great, the security safer, and the permanence greater. \ member interjected: “Put it first 1”

Sir R. Horn,, replied: “I agree, but wo must not lose sight ot mi original purpose, which was to assist ‘o rovivo Europe's trade.” Ho added this sohomo would rot apply to raw materials, oven if produced within the Empire. REDUCING WAGES. LONDON. March 9. The District Building Trade Operatives Federation have endorsed a scheme for reducing wages by from ltdto 2d per hour throughout the building trade on the termination of the present agreement . NO WOOL BUYERS. LONDON, March 10 At Antwerp sales. River Plate wools were all withdrawn, there being no buyers.