INTEREST ON BRITISH WAR LOANS

Dominion, Volume 23, Issue 55, 28 November 1929, Page 11

INTEREST ON BRITISH WAR LOANS

MR. SHAW EXPLAINS HIS REFERENCE NOT POSSIBLE TO UNDO EVIL NOW (United Press Association. —By Electric Telegraph.—Copyright.) (Rec. November 27, 10.30 p.m.) London, November 27.’ The War Minister, Mr. T. Shaw, explaining his reference to the war loan, told the “Daily Herald”: “Everyone knows that we borrowed in time of inflation and are now repaying in money greatly higher in value. I am simply stating the fact. It may not be possible to undo the evil now. Maybe an attempt would do more harm than good, but I am tired of people who protest every time a million or two is spent on vital social services and yet ignore the fact that hundreds of millions are distributed through a policy which pays for inflated money at deflated rates.’ ’ STOCK EXCHANGE NOT ALARMED London, November 26. The Stock Exchange is not alarmed at Mr. Shaw’s statement in the House of Commons. It considers that the Government would only attempt to reduce the interest rate by legitimate means, such as voluntary conversions. The prices of practically all Government stocks opened lower, being as a precaution marked down to prevent sales by nervous holders. The 5 per cent. War Loan, to which it is obvious Mr. Shaw referred, fell 3-16 ro 99J.