AIDING AUSTRIA.

Auckland Star, Volume LXII, Issue 143, 19 June 1931, Page 7

AIDING AUSTRIA.

British Bankers Advance £4,500,000. UNBENDING FRENCHMEN. BERLIN, June 18. The Berlin correspondent of the "News-Chronicle" says the dramatic decision of the Bank of England to provide a credit of £4,500,000 for Austria has averted the probable declaration of Austria's bankruptcy. ••-.;■ Negotiations between the Austrian Government and French bankers have broken down, owing to the French political demands. The Vienna newspapers welcome the Bank of England's action, as showing that British financiers are prepared to apply their vast resources to the restoration of European finance. TRADE DEPRESSION. GOVERNMENT'S ATTENTION. (ReceiVed 1 p.m.) LONDON, June 18. In the Hous© of Commons, Mr. MacDonald said that the Government had given attention to every phase of trade depression, including last year's downward tendency of wages. Generally speaking the- latter had fallen less than the cost of living, therefore there was no reduction in the spending power. . BRITAIN'S IDLE. ATTACK ON GOVERNMENT. (" Times " Cables.) LONDON, June 18. Commenting on unemployment, the returns for which show that 2,602,898 persons are unemployed at a time when it should have shown a seasonal improvement, "The Times" says there is no sign that the Government has any constructive policy to help industry to provide work and wages and still no sign that it has taken to heart the lessons of the crisis in Australia.. "The Times" strongly urges the adoption of the principle of co-operation and advocates that groups of firms who maintain selling organisations overseas should recognise the fact that the idea that the Dominions should devote themselves exclusively to the production of food and raw materials is out of date.