A PROMISING SCHEME.

Putaruru Press, Volume VI, Issue 241, 14 June 1928, Page 4

A PROMISING SCHEME.

MUCH better man State loans—which may or may not be spent reproductively —is the great AngloAmerican scheme now' being floated. By this two-country arrangement part of America’s surplus of money will be lent to British manufacturers for purely developmental and research purposes, for the founding of new industries or the extension into new fields of activity of existing concerns. The Finance Company of Great Britain and America heralds an economic epoch of brilliance, for undoubtedly America has the money and the British Empire the latent industries awaiting research and established ones requiring development. This great finance machine, it is calculated, can command approximately I £SOO 000,000 of credit and capital, and is headed by such eminent names as that of Sir Alfred Mond in Great Britain and Mr. Alfred P. Sloan, president of the General Motors Corporation, in America.. Magnates of several industries are included on the two boards, and no other combination would form such a galaxy of financial and industrial captains—not in the whole w'orld. The control, it is re- | assuring to note, is in the hands of the British board. As operations develop it will be interesting to note the effect on general trade conditions. Over and above the purely financial and commercial aspects, there is little doubt that one of the fruits of the scheme will be a strengthening of the unwritten bond of goodwill existing between the two great English-speak-ing peoples, and this must become a further insurance in favour of the peace of the world, an indirect object of no mean value.