International Credits.
TElt MEULEN SCHEME. LONDON, March 4. o Some time ago the Economic Conference of the League of Nations formally approved of what is known as tlie Ter Moulen scheme, for financing exports to the necessitous countries of Europe. One of the great difficulties has been to find an organiser of outstanding ability and calculated to inspire internationad confidence because it must bo remembered that the matter is not one which simply concerns Great Britain, but a large part of tlie Con tinent of Europe. It is now reported that the economic, and Finance Commission, in accordance with the powers received by them from the Council of the League of Nations, have taken the necessary measures for putting into execution the decisions reached at Geneva concerning the scheme for international credits. A sub-committee consisting of Alons. Ovcnol, Sir Henry Strakosch, and Alons ter Meulen will carry out provisionally the duties entrusted to the International Commission proposed under -this scheme. Sir Drummond. Drummond Fraser,, joint managing director of the Manchester, Liverpool, and District Bank, and president of the Manchester Bankers’ Institute, has accepted the post of organiser provided for under the decisions reached at Geneva. Sir Drummond Fraser’s activities have extended beyond the Lancashire area by reason of the fact that during ’ the war he did much, first to originate and later to promote the success of the short term borrowing by the* Government. His appointment as organiser of the Ter Moulin scheme, it is considered, consti--1 tides one of the best guarantees that that scheme will certainly not hack the power of a strong pushful hand. Not ' only so, but confidence will be increased ’ because Sir Drummond .Frasers lona banking training and bis soundness on all financial matters makes it 1 certain that the Ter Alenlen plan will ' be carried out with the minimum atn- ' ount of injurious inflation of credit. m ttili qgpjggggaMMBMBBMBPPMMI
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Hokitika Guardian, 28 April 1921, Page 1
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315International Credits. Hokitika Guardian, 28 April 1921, Page 1
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