The Committee appointed to inquire. into Iluaocial Facilitiea for Trade,
with Lord Faringclon. as Chairman, have issued their-Report. The most noteworthy.of their reccuor3lations relates to the estab-
lishment of a British Trade Bank, cc uted under Royal Charter, which, "while; not interfering unduly with the ordinary business done, by British Joint Stock. Baoks, by Colonial Banks, and PY British-Foreign Banks and Banking-Houses, would be able to:assist British•intereats in a manner not possible underexisting conditions." The main features suggested by the Report are that the Trade Bank should have a capital ef. £10,009;000 ; that:it should not aeeept deposits at call or short notice, and should only opeacurrent =mints _for partieet proposing te make use of the overseas facilities which it should afford ; that it should- have a Foreign Exchange Ltepart- ment affording special is.oilitiee for -dealing -with - bills in foreign currency, and a Credit Department for the isaue of credits to parties at home mid abroad. The-Report also- suggests arrangements for friendly co-operation with existing' Colonial and British-Foreign banks, and the avoidance of any unfair-competition or interference with their business ; -it .recommends the inauguration of an Infor- mation Bureau; and -finally suggests -that the Trade--Bank should receive Government assistance.
Previous page
