BRITISH TRADE.

Taranaki Daily News, 8 December 1922, Page 4

BRITISH TRADE.

LARGE GOVERNMENT LOANS. THE BILI'dTSCUSSED. By Teleciaph.—Press Assn.—Copyright. Received Dec. 7, 8.35 p.m. London, Dee. 6. Mr. Stanley Baldwin, in the House of Commons,'moved the second reading of the Trade Facilities and Loans Guarantee Bill, which extends the Trade Facilities Act for another year, granting twenty-five millions in loans to trade, also guaranteeing twenty-seven .millions sterling to assist Austria. 'Mr. Ramsay Mac Donald said the Labor Party ’ sympathised with the Government in their efforts to pass the Bill to supplement, the efforts to deal with unemployment. Mr. Spencer 'Clay moved the rejection of the Bill and Mr. Hopkinson seconded. Lord Stanley specially advocated the Bill’s scheme for aiding the development of cotton growing in the Soudan, which was vital to Lancashire. Lord Robert Cecil said a loan to Austria was a perfectly sound proposition, and a great achievement by the League of Nations, being the first .practical step in setting Europe on its legs again. Mr. Wedgwood argued that if the loan was to be a success, Austria must become an agricultural and not an industrial State. The Bill was read a second time without a division.