e "all in" policy which has recently been introduced for the benefit of the British export trade by the Export Credits Guarantee Department is an important innovation and one which it is expected wil greatest assistance to exporters. It is a further step in the development of this form of State insurance and ig the outcome of recent experience irthis field, states the "Manchester Guardian When the war started the Export Credi arantee Department insured exporters against two kinds of risks: Against the insolvency of the foreiet buyer and against transfer difficulties in foreign countries involve ing delays in payment exceeding six months. perience, however, that exporters ran It was soon learned from ex-
a great meny other trade risks (other than w risks within the United Kinedom and marine risks, neither of which are covered by the devartment). Thus exporters found it extremely difficult in many) markets to quote firm prices, as it was imvossible for them to know whether at the time of shipment: insurance and freight charges would not rise. Ex. porters therefore showed a tendency to decline business. and preferred to concentrate on the home market.
Text read from the printed page and cleaned; old type leaves the occasional error.