Hopes of reaching a trade agree-9 principle upon the grant of a £10,000,000 loan to the Chinese ment with Germany were voiced in Government for the construction of a 500-kilometre railway be-the House of Commons today by Mr. tween Hsiangkwei and the Burmese border, well-informed quarters Oliver Stanley, President of the revealed tonight: This railway project will be financed exclusively Board of Trade, when he made an address summing-up for the Govern-by-British interests with the assistance of the Export Credits Dement at the close of the debate on partment, it was stated. A total of £6,000,000 will be devoted the Export Guarantees Bill. to the actual construction of the railroad, while the other £4,- He stressed that Britain does not wish to enter into an economic war 000,000 will permit the Chinese Government to purchase extra with Germany. railway material and motor lorries.
Final accords have not as "We do not want to fight and we yet been signed.—Havas. do not believe that there is any need Washington, Dec. 15. to fight. We believe that it is better Mr, Jesse H. Jones, Chairman of the Reconstruction Finance both for us and for Germany to come to an amicable agreement with Corporation, today announced that the Corporation had authorized regard to sharing the market which the Export-Import Bank to extend credits amounting to US.$25,- will enable us both to carry on fair 000,000 to Chinese interests for the purchase of American agricul-trade at fair prices instead of the tural and manufactured products. ridiculous and ruinous cutting of prices that we see today.
The credits were to be extended to "We are hopeful that it will be the Universal Trading Corporation of Britain's Navy to possible to reach an agreement of New York and were to be guaranteed that kind with mutual benefit but if by the Bank of China. The credits we fail to reach the agreement which will mature over a period of five
Text read from the printed page and cleaned; old type leaves the occasional error.