SOUTH AFRICA’S ECONOMY

Press, Volume LXXXV, Issue 25970, 25 November 1949, Page 7

SOUTH AFRICA’S ECONOMY

“FACES FOUR YEARS OF AUSTERITY” (Rec. 11 p.m.) CAPE TOWN, Nov. 24. The Cape Town’ correspondent of the Associated Press reports that the Governor of the South African Re serve Bank (Dr. M. H. De Kock) told bankers last night that the Union faced four years of austerity until her new Orange Free State goldfields began to yield a return.

Dr. de Kock said that until then he saw no alternative but a reduced standard of living because of a lack of foreign exchange.

Three Killed in Air Collision.—A Royal Air Force Meteor jet fighter and a single-engine Proctor trainer collided in the air near Kimberley, Norfolk, to-day. Both- aeroplanes were on training flights. The two occupants of the Proctor and the pilot of the fighter were killed.—London, November 23.

British Trades Union Membership.— Trade union membership at the ehd of 1948, totalling 9,301.000 in 706 unions, was the highest ever recorded. It was the third successive year in which union membership exceeded all previous figures. During th£ year the number rose by 159.000, including 9000 women trade unions. Funds at the end of the year amounted, to £54,000,000, compared with £50,000,000 in 1947 and £20,000,000 in 1938—London, November 23. Birthday Present for Mr Stalin.— Reuter’s Prague correspondent says that a carpet containing 1,568.000 knots and measuring more than 20 square yards has been completed in Prague as a birlhday present for Mr Stalin, who will be 70 next month. Twentyeight women, working three shifts a day, made the carpet in 11 days.— London. November 24. Czech Village Penalised.—The Associated Press correspondent in Prague says that penalties for sabotage have been placed on the entire village of Nevolne, in Slovakia, because its farmers delivered watered milk. As part of the punishment the villagers ar® now obliged to deliver butter inettad of November 24.