London, May 31.
The House of Commons last night passed resolutions authorize ing the extension of the Government's credits and insurances scheme to all parts of the Empire and British possessions in the Far East, which, the Prime Minister stated, required a certain amount of consideration, owing to the conditions under which—outstanding obligations had not been fully honoured.
It was, he said, undesirable that credit facilities should be extended if they in any way prevented traders from discharging their full obligations. The decision of the Department of Overseas Trade regards India and the Far East had been taken after consulting bankers and the India and Colonial Offices, and the scheme would not be extended to those places until the conditions were such as would obviate these differences. He emphasized that it was only when the banks did not take up business that the Government would step in. The scheme was, therefore, entirely supplementary.
Note.—The Government schene, as already stated in a_ recent 00,000 already authorized for the cablegram, provides that the £26,-
grant of credits in foreign countries shall become—available for guaranteeing drafts against—shipments to various parts of the Empire.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.