Untitled

Auckland Star, Volume LVII, Issue 43, 20 February 1926, Page 19

Speaking at a Chamber of Commerce luncheon in Belfast, the Hon. E. H. Brand, C.M.G., said: "Our socialist friends talk a great deal about" the evils of capitalism. They conveniently forget if it were not for the great capita] savings of Britain over the last two or three generations, which are now invested abroad, our people would e'er- ' tainly have felt the pinch more than they do now. We draw from the rest of the world, without any present effort on our part, about £200,000,000 a year in the form of interest and sinking fund as a return on those savings, and we can therefore import commodities to that value into the country without making any equivalent return. It is as much a bonus to us as a community as the £35,000,000 on the war debt we pay the United ■ States is to . the American people." Later in his address Mr. Brand said: "We can indeed only be really prosperous again when our neighbours are really prosperous, their currency stable, their affairs in equilibrium, and the whole prospect of the world peaceful." "British Industries" states that a firm in Yorkshire has secured a contract for the installation of free discharge regulators at the Hume dam, New South Wales, which will regulate the flow of the Murray River. These regulators • will be the largest of the kind ,in the world. The same firm has the contract for valves in connection with, the Arapuni hydro-electric scheme.