London, July 6.
BILL designed to assist members of the anti-aggression front to buy munitions and other war materials was introduced in the House of Commons today and was read for the first time. Entitled the "Overseas Trade Guarantees Bill it seeks to increase from £10,000,000 to £60,000,000 the limit of export credit guarantees' which the Board of Trade may give in respect of transactions which, though not commending themselves on purely business grounds, yet appear desirable in the national terest.
Guarantees may be given only to or for the benefit of a person carrying on business in this country.
Most of the £60,- 000,000 is already earmarked in connection with anti-aggression negotiations with various countries.
It will be mostly used to purchase munitions and materials for increasing the defences of the countries concerned, All guarantees under the Bill will be given on the authority of the Board of Trade.
The Government has decided to promote ins Tegslation a it believes {hat it will wave an Jenportant effect stimulating the" export trade the "United "Kingdom, particularly with "countries" presently hampered ty economic aimeuities.
rrensactions under the Bill_are purely of a trade nature, and do not over any loans or proposals of leans, Which will be dealt with by the Treasury and not the Board of Trade.
"The Bill also provides that, im the case of the isto of promissory notes fy" governments concerned which, When" guaranteed by" the Board Trade, are sold on the market, the Board. of Trade wil be empowered {ovaequire and "hold secures guaranteed: with money advanced {he Treasury under the powers con ferred by the Bille-Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.