Details of Government Scheme London, June 17.
The conditions under which the Government propose to aid British traders under the Exports Credits Scheme have been issued. The Government propose to guarantee drafts drawn against shipments of goods up to a maximum of 85 per cent. of the amount of the draft.
The new system, which comes into force immediately, thus approximates to the ordinary process of trade much more closely than the existing method of advances, as the guaranteed drafts can be discounted in the usual manner. The Government will also participate with British banks and financial houses in the risks incurred in financing trade with countries included in the scheme which will cover trade with. all parts of the British Empire, British prorectorates and mandated territory ies. It is not proposed, however, to apply it at present to British India, Ceylon or the British possessions in the Far East which, it is understood, are still fully supplied with goods and therefore special facilities for financing exports to them are not required.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.