STATE CREDITS SCHEME.
THE NEW BRITISH ACT. IMPORTANCE TO DOMINION. By Telegraph.—Press Association. Wellington, Last Night. The Premier 'received to-day the following telegram from the British Empire Producers’ Organisation: “Referring to the recent Act of the Imperial Parliament, the extended State credits scheme enables reliable firms to purchase British goods on credit. Bilte drawn on buyers backed by the British Government can be discounted at Treasury note rates. Please communicate with importers and Chambers of Commerce.” “I believe this is of considerable importance,” stated Mr. Massey, “because the new Act also provides that the Imperial Parliament may guarantee the payment of principal and interest on loans raised by any Dominion Government. public authority, corporation or other body or persons for carrying out any capital undertaking, provided the application of the loan is calculated to promote employment in the United •Kingdom. The provision would thus ap,ply to any capital undertaking requiring the purchase of British made chinery, materials or other gooeb “*
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Taranaki Daily News, 16 February 1922, Page 4
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160STATE CREDITS SCHEME. Taranaki Daily News, 16 February 1922, Page 4
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