§ Mr. A. T. DAVIESasked the Financial Secretary to the Treasury whether the grant of loans to British traders can now be extended to merchants and manufacturers desirous of dealing with Russia as a complement to the recently effected friendly understanding with the Soviet Government at Moscow?
§ Sir W. JOYNSON-HICKSI assume that my hon. Friend has in mind the guarantee of credits under the Export Credit Scheme. As I stated on the 10th July, I fear that existing financial conditions in Russia are not such as to justify a British Government guarantee for Russian purchases.