3 SEPTEMBER 1927, Page 31

FOREIGN LOANS PROHIBITED.

For a considerable period after the War, and, indeed, until about two years ago, the foreign exchanges, and more especially the American, were so completely adverse to this country that there was an actual ban upon the floating of foreign loans in this country save in a few exceptional instances where official permission was given. During a part of that period America filled the breach by making large loans to many countries, and especially to some of the countries in Europe, though our own part in sharing in certain loans for the rehabili- tation of some of the Central European States must not, of course, be forgotten.