67. Mr. GIDEON MURRAY
asked the Chancellor of the Exchequer whether the Government has any information as to any steps, Governmental or otherwise, that are being taken in the United States by means of granting long term credits to facilitate purchases in that country by Europeans of raw materials or manufactured goods; if so, whether he will state what these steps are; and, if not, whether he will cause inquiries to be made and inform the House what steps are being taken in. that country?
§ Mr. BALDWIN
The powers of the War Finance Corporation in the United States have been extended by statute to enable it to promote commerce with foreign nations through the extension of credits. I am sending the hon. Member a copy of the relevant portion of the statute in question.
68. Mr. G. MURRAY
asked the Chancellor of the Exchequer whether the Government has the intention of setting up in this country any organisation whereby 311 European countries which are not in the position to pay at present by means of exports for requisite imports, and which cannot become exporters until they obtain certain necessaries, such as seeds, farming implements, rubber, pit-head gear, machinery, cotton, jute, and belting, will be granted credit facilities for the period necessary to enable exportable articles to be produced in repayment for the facilities given; and whether he will outline any steps it is proposed to take to meet this situation?
§ Mr. BRIDGEMAN
My right hon. Friend has asked me to reply. The question of financing trade with such countries is receiving consideration, but I am not able to make a statement at present.