CHANGES MOOTED

Auckland Star, Volume LXV, Issue 57, 8 March 1934, Page 7

CHANGES MOOTED

BRITISH POLITICS. Speculation on Reconstruction Of Cabinet. POSTTONED TILL AUTUMN? ('•Times" Cables.) LONDON, March 7. ' Commenting on recent speculations about a reconstruction of the Cabinet, which is understood to have been postponed until the autumn, "The Times" says the first part of the National Government's task —recovery —has been accomplished with speed and efficiency. The second part—reconstruction —requires freshness of vision, courage and persistence.

There is a stronger case than ever for a continuance of an even more national Government, but it does not follow, says the paper, that every Minister is rooted to his present Department, or that there is not a man outside whose inclusion in tlio Government would invigorate it.

ACTION BY BANKS. Currency Stabilisation Rumour. BRITAIN, FRANCE AND U.S.A. LONDON, March 7. The city editor of the "Daily Herald" states that in spite of official denials the city believes a stabilisation agreement— possibly only temporary—between the pound and the dollar has been reached after discussions between the Banks of England and France and the Federal Reserve Bank of New York. There has been no direct participation by the Governments. It is suggested that stabilisation will be made at a level that will entail a heavy sacrifice on the part of British industry and one that is completely unjustified by economic considerations.