BRITISH NEWS.

Clutha Leader, Volume XLIII, Issue 33, 24 October 1916, Page 6

BRITISH NEWS.

TREASURY BONDS. £2,000,000 DIAXLY TO U.S.A. LQNiDON, Oct. 19. In the House of Commons, replying to criticisms, regarding the .high interest paid on the new Treasury bonds, Rt. Hon. !R. McKenna (Chancellor of the Exchequer) declared that pre-war standards were inapplicable to the present situation owing to the immense sums required. He instanced! tihat we were paying £2,000,000 to the United States every working day. That looked an impossible task, but we accomplished it, and there was no reason to suppose we would »not continue to d'tt so. Hence the necessity for raising money in the United States. He mentioned that £36,000,000 of 6 per cent. Exchequer bonds had been sold in a fortnight. The present moment was unfavorable for a long-term loan. RHODES SCHOLARSHIPS. THE EXCLUSION OF GERMANS. LONDON, Oct. 20. In the House of Commons, on the second reading of the Rhodes Estate Bill, providing for the disestablishment of the German scholarships, Mi- J. King (Liberal member for Somerset North) moved its rejection and criticised the trustees' methods of carrying out the object in view. He admitted that a reversion to pre-war conditions was impossible. Colonel C. Yate (Unionist member for Leicester, Melton) suggested that the trustees should be invited to consider the allocation of one of the (proposed forfeited scholarships to India. Mr H. J. Maokinder (Unionist member for Glasgow, Camlachie), on behalf of the promoters of the measure, said the House would agree that a long time must elapse before Germans would - again be acceptable at Oxford. Mi 1 King withdrew his opposition and the Bill was read a second time. THE METAL TRADES. POST-WAR POSITION. LONDON, Oct, 20. Official: Rt. Hon. Walter Runciman (President of the Board of Trade) hats appointed Sir Gerard Muntz (President of the Institute of Metals, 1910-1911) chairman of a committee to consider the post-war position, especially in relation to international competition, of lead, copper, tin and other non-ferrous metal traders and report as to what measures', if any, are necessary or desirable to safeguard the position.