Trade with Danubian Countries Lord Stanhope thought it worth while
to reply in the House of Lords last Monday to articles " in the foreign Press " which suggested that the British Government is pursuing a policy of economic encirclement in the Near East. The Government has made an agreement with Turkey which enables her, thanks to a loan and to export credits, to buy war material and other goods from this country. It has been suggested that similar use of Great Britain's credit should be made to maintain or improve her trade with Danubian countries. The adoption of such measures would be legitimate and healthy. Germany has the great advantage of offering an indispensable market for the exports of such countries as Roumania, and she is in a position to impose her own terms, which exclude currency payment. It is clearly a gain to such countries to be able to export to markets in Great Britain which can afford them free foreign exchange The German method tends to stifle international, trade, the British to expand it. There is no question of stopping German or Italian trade with the Balkans. But it is not illegitimate that this country should get some share.
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