SALVATION OF CREDIT

Dominion, Volume 24, Issue 290, 3 September 1931, Page 9

SALVATION OF CREDIT

Britain’s Supreme Issue REPLY TO T.U.C. PLEA Tariff Instead of Cutting “ALMOST EQUAL DISASTER” By Telegraph—Press Assn. —Copyright. (Rec. September 2, 8 p.m.). London, September 2. Tba National Liberal Federation, in reply to a proposal by the Trade Union Connell to consider a revenue tariff as an alternative to economies and Increased taxation, has issued a manifesto stating that the salvation of National credit at present is the supreme issue. Though the federation believes that the abandonment of free trade would be a disaster almost equal to the crash of sterling, the opinion is expressed in the manifesto that attention should be concentrated on the Immediate issue. EFFORTS OF CABINET Plan for Drastic Economy SOON TO BE ANNOUNCED Official wireless. Rugby, September 1. A meeting of Cabinet this afternoon lasted three hours. It is understood that one whole section of the Governmeat’s scheme is completed and that the progress made is regarded by Ministers as most satisfactory. The examination of the proposals for drastic economies necessary to meet the financial emergency has concluded, and these have now been passed to the Parliamentary draftsmen in preparation for the special session of Parliament which will meet as early as the further progress of the business permits. Daily Sessions to be Held. There win be daily sessions of Cabinet until the scheme for balancing the Budget is ready for presentation to Parliament as a comprehensive whole, and at to-morrow’s meeting the report of the Finance Sub-committee, which has been studying the taxation proposals, will come before the' Ministers. The first public statement of the Government’s plans In detail will be made In the House of Commons, and it is possible that at an early stage of the proceedings there will be a division which will give the House of Commons an opportunity to express its confidence in the Government. This morning the Prime Minister discussed with Mr. Stanley Baldwin and Sir Herbert Samuel the remaining Government appointments. The list Is nearly complete, and will probably De published to-morrow. MacDonald Encouraged. It is understood that the Prime Minister is greatly encouraged by the expressions of support which he continues to receive by post from all sections of the community, and particularly by messages of sympathy and confidence from former fellow workers in the early days of the British Labour movement. Two more Labour members of Parliament have Indicated their support of Mr. MacDonald in forming a National Government to deal with the financial crisis. One is Mr. Cralgle Aitchison, Lord Advocate for Scotland In the Labour Ministry and member'for Kilmarnock, who Is to resume office, and the other is Sir Ernest Bennett, member for Cardiff Central.