LABOUR’S AUNT SALLY

Dominion, Volume 24, Issue 291, 4 September 1931, Page 9

LABOUR’S AUNT SALLY

Blame Laid on Bankers CAUSE OF THE CRISIS “In For a Hard Struggle” MACDONALD’S SUPPORTERS By Telegraph— Press Assn.— Copyright (Bee. September 3, 8.15 p.m.) London, September 3. ' Commander J. M. Kenworthy (Labour) in s letter to the Hull Labour Party, says the crisis is not of the Government’s malting. The difficulty has been caused by the financial houses. French and American bankers have dictated <no way In which the Budget should bo balanced, which is intolerable. “We are in for the hardest struggle,” he adds. ’The general election may be soon, but the issue is simple, namely, whether Parliament is supreme or the City of London, Wall Street, and the Banque de France. “The Labour Party is fighting a small oligarchy of financiers.” Mr. James Maxton, as the leader of the Labour extremists, writing in "The New Leader," says the National Government will fall to do more than find temporary solutions for Immediate troubles. The people had better prepare their minds for a semi-Fascist regime. It is obvious, he adds, that new and revolutionary tactics must be adopted by the Labour Opposition. *The following Labour members are supporting Mr. Ramsay MacDonald; Mr. Philip Snowden, Mr. J. H. Thomas, Sir William Jowltt, Mr. 0. M. Aitchison, Mr. Holford, Mr. G. W. Knight, Mr. Malcolm MacDonald, Mr. J. A. Lovat-Fraser, and Mr. G. M. Gillett Mr. Gillett has declared: “The defeat of the Government would cause a financial panic. Accordingly I felt that I must follow Mr. MacDonald’s wise example." PROPOSALS EXAMINED Results of Cabinet’s Work ‘ X ■ DISCLOSURE NEXT WEEK Official Wireless Kugby, September 2. . At a Cabinet meeting this morning, which lasted two hours and a half, the report of the. Finance Sub-commit-tee was considered, and an examination of the taxation proposals, which will be disclosed in the House of Commons next week, was begun. Cabinet will meet again this evening, and frequent meetings will be held until the finishing touches have been put to the Government’s plans. Commenting on the improved tendency on the Stock Exchange to-day, the evening papers refer to the growth of confidence due to the obvious determination of the Government to press on without delay with a- scheme for balancing the Budget. Speculation Continues. While speculation as to the main features of the proposals continues, there Is a general recognition that no definite , statement regarding any part of the Cabinet’s plan can be made until it has been completed and placed before Parliament. It is officially announced that a special session of Parliament! has been summoned to meet on Tuesday next, September 8. The Prime Minister. Mr. Ramsay MacDonald, has sent a reply to the resolution of the Seaham Labour Party calling on him to resign his seat, in which he will not consider resigning before he has completed the imperative duty which he has undertaken of restoring confidence in national credit, and protecting the mass of the wage-earners from the serious disaster in which they would have been involved by the depreciation of the pound. Referring tn the sacrifices which ' the will be called nnnn to iw>ke. Mr. Ma-Donnld savs that they will be "spread as equitably as human ingenuity can do if.” DECISION WITHHELD Attitude of Labour Member Official Wireless. Rugby, September 2. Mr. Holford Knight, Labour member for South Nottingham, has informed the local party that he reserves decision on his attitude to the new Government until the proposals come before Parliament. The only test he will apply, he says, is how far they satisfy the national necessities, and he repudiates dictation by party caucus. OPERATION OF DOLE Anomalies to be Removed Official Wireless. Rugby, September 2. The Minister of Labour, Sir Henry Betterton, after consultation with the Trades Union Congress, employers’ organisations, and the Treasury, has appointed an Advisory Committee to con skier and report on the. method of dealing with the anomalies which are found in the operation ol the Unemployment Insurance Acts. Lord Burnham will preside over the committee, which consists of members of trades unions, employers, and the Treasury. CONVERSION OF LOAN Will Be Purely Voluntary London, September 2. The Stock Exchange evinces a more confident tone following the official announcement that the forthcoming war loan conversion will be purely voluntary, and also that fixed interest-bear-ing securities will not be singled out. for taxation. z ‘ACTED IN IGNORANCE’ MacDonald’s Hostile Committee London, September 2. Mr. Ramsay MacDonald, in a letter to the Senliam Labour Party, expresses regret that its resolution of August 29 was passed in ignorance of the facts. “The position of my colleagues and myself is dictated by a determination to maintain the maximum standards of living and pay,” he says. “Any action 1 take in response to any resolution will be only after I have finished xny present duty.” *