CHEAP MONEY.

Press, Volume LXVIII, Issue 20543, 11 May 1932, Page 11

CHEAP MONEY.

SUPPLY IN BRITAIN. 0 CHAMBBR LAIN,S VIEW. OF RETURN TO PROSPERITY. Reived May 10th, 8 p.m.) LONDON, May 10. «.*. House of Commons, Mr Neville -*£j2 (Chancellor of the Ex- *\ rtplyinff t0 thc MacmUlan *? «M tbey could not expect by ■•iEutton of. sterling to be cer- * rfrtiiing the prices of commodi- *** J»d been wished. He had alZm l dstafl the general objective of JL, monetary policy. The Govern""TLored to see a rise in wholesale 2» fa order that industries once *ju -jffbt make profits. [factors would affect wholeZ*tet*-. first, the tariff itself, which lL toiobjtrt to what happened to second, the exchange %L tt the pound, which the Governdesire'to see rise above the Tj- uvel; and third, cheap money. Hinted whether a lower bank-rate ZjdMa the present would result in Sjjgthe rates for bills and ovor'Sffct absence of serious disturbances ££ countries, the Chancellor said S»w ww° n wh y there Bhoqld aot JjaMliaaation of the present cheap I? Afftifal supply of money. For tofMSOM he would not take a pessiSertsw of the future. He believed the aid of the tariff there 5| to » return of confidence and *Sp'Oovernment had been criticised j&jjat moving fast enough, but no jgMpgßt of modern times had ySTftbont such a rapid change as Mppest Government had achieved. llfpp House wait till the conferences Lw and Ministers had an opporhfcinr bard thinking on the subject gstt&c economies. Then the Houju Mjliot be disappointed. Jli jfhtte on the amendment moved JlrfLW. E. Brown (Lab., Mansfield) tflw House refuse the second reacljjrf tleKnancc Bill was adjourned, si fte Boose then rose. —.' ■ ■ -