Image TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage TileImage Tile
Image size: 7680x9216 Scale: 35% - PanoJS3
Page overview thumbnail

Article text

Empire Development.
Important Discussion.
London, Oct. 10.
The Ecdnomm Conference discussed
this aftei'noou the question of.eoopera
tion in connection with financial assist
ance for Imperial development.
Sir Philip Lloyd-Greame said that the
question was how far they could co
operate with the Dominions so that the
financial commitments should not in the
initial stages place an undue burden on
any particular country. All of the Do
minions, colonies, and India had gi'eut
problems of development, and it was to
the general interest that they should be
accelerated us fur as possible. Great
Britain was giving already a large mea
sure of financial assistance to the work
of settlement, and if they could get this
speeded up it would mean the placing
of orders, nnd the British Government
would be prepared to assist financially.
It was proposed that Great Britain
Should advance part of the interest for
a period with respect to schemes which
were put in hand in pre-normal times,
and which represented orders to Great
Britain. It appeared to the British Gov
ernment that that would help the rapid
development of the Dominions, and as
sist G^ent Britain by giving employment.
Certain conditions, however, must be
satisfied. He hoped that the requisite
machinery would be devised for examin
ing the schemes and settling the terms.
The British Government was determined
to help .development in every possible
way. The proposal was sound economi
cally, because it was merely using credit
to accelerate normal development when
it was needed the most.
Mr. Ormsby-Gore Raid that Africa re
presented jcrent possibilities. The colo
nies hnd raised about £20.000,000 last
yeur. and Nigeria was coming on the
market this week with a loan for £5 -
000,000.
The Conference adjourned to next
week.
$