We publish elsewhere the Report of the Indian delegates to the recent International Financial Conference held at Brussels with such portions from the appendices thereto which relate to the one practical proposal of the Conference, as are necessary to come to a considered conclusion as to the feasibility of that proposal. That proposal, it is perhaps needless to say, is the one which elaborates what is now known as the International Export Credits Scheme. As will be evident from the extracts we published elsewhere, there are practically two such schemes before the Conference, the one that of Meulen, a representative of Holland and the other that of Sir Marshall Reid who was one of our own delegates. The latter is indeed but a modification of the former so that it is necessary that we should be well acquainted with the former fully to appreciate the latter. We have not been able, for considerations of space, to set forth in full all the features of the Meulen scheme, but its essentials are summarised in Sir Marshall Reid’s scheme which we print elsewhere. The Meulen scheme proposes the constitution of an International Commission under the auspices of the League of Nations consisting of bankers and business men of international repute with power to appoint Sub-Commissions to exercise the Commission’s authority in participating countries.
