ECONOMY IN BRITAIN.

Press, Volume LXVII, Issue 20314, 13 August 1931, Page 9

ECONOMY IN BRITAIN.

> — A DVICE OF BANKERS. eM EBGENCV conference. conversion OF loans |.-.VV(ll" 14 Hl>. . „ , - •; • r. Y I. 1. 1 TKJC i VcLEUiU-wrviii-.ai i j .Received Aug.ut 12th. • !>■<"•' LONDON August V2. ( Th , writer uf "The Times" . tl at prominent bankers a!tended cf a live-hour,' ivntercm-u ; £.« a \hc l'rimo Mini.«r, Mr Ram- ; ; Mac-Donald.. and the Chancellor o, .Mr Philip N.cmlon. ; ,u j-bs'ilutoly detcrmin-d i.> ■" I™-- ""V';:' 5 ; to s-'« in,,lou t ' lc Lnorov Committee to-morrow in-lcad 'at the* end of tlio month. he meel- , "probably will bo lollowt-d by eonbetween members at the Lul» ,t and representatives ot the t onand Liberal Parties, though ! ";4 is no question of inviting the parties lu join a National GovLoan Conversion Discussed. Tie "Daily Telegraph'' gathers thai. .... Government hopes possibly ne\t „--ek to arrant » joint conference with leaders of tho Conservative and F'beral Parties regarding the measures "ssary to reduce abnormal expend ij a which event Mr Seville Oamberlaia will represent the Con«>r«tius and Sir Herbert Samuel the J liberals. . ' The Ministry argues that the carrying j ..st of the recommendations of tho j Committee's report involves I "'■Eteßtiou! legislation for which the ; whole House of Commons must boar ; Ttpowibility. I The "Daily Herald'' says that tho j .-jjters favour the Australian scheme ■.( cvsvcrsioa, arguing that while normal ijEveriion has bo chance ft present un inpMl might he made on the ground of -itioaal emergency, which would carry weight, if largo holders such as the hlks would agree to tho proposal. COll- - is estimated to save between 000,000 and £30,000,000 a year, 'lie City Editor of tho "Daily Mai!" ap that one of the chief reasons why Mr laasay Mac Donald hurried back to koto was a serious letter addressed to the Government by tho City of Loudon bankers, couched in the plainest law, and urging drastic retrenchment is order to re-establish Great Britain s credit. PROPOSALS IN BRITAIN. kitkh omcuL toilxss.) , RUGBY, August 11. Tiio Prime Minister, Mr Ramsay Mac Donald, on his return to London, met tho Chancellor of tho Exchequer, Mr Philip Snoivden. In an interview, Mr Mac Donald said that he had comI pletcd Jiis studr of the report of trio t'xwany Committee, but emphasised 'A* i»d Aafc the Government's attitude tol4 w&k decided until the meeting of the (pedal Cabinet sub-commu-te;, at the end of the month.