BANKERS’ VIEWS

Dominion, Volume 33, Issue 106, 29 January 1940, Page 8

BANKERS’ VIEWS

Mobilizing National Income (British Official Wireless.! (Received January 28. 7.-5 p.m.) RUGBY. January 27. Commenting on Hie speeches ot the chairmen of British books del’ncred at annual meetings tin l "Dail,' I ehtgraph” today stresses the uimnimity witli which, the importance of building up Hie British economic strength was emphasized and says: "Our British economic strength will only tell decisively in our favour when it has been fully mobilized for war purposes. “This means two things: hirst, a scaling-up of our national income .o the absolute maximum by utilizing every available unit of capital and labour, and, secondly, allocution of the maximum practicable proportion of that enhanced income to the requirements of the war.” It continues: "While not overlooking the part to be played by taxation and rationing, they all emphasized the vital importance of saving on Hie pact of the public if inflation and its attendant disturbance is to lie avoided. "Two of them. .Mr. Reginald McKenna, of Hie Midland Bank, and Sir N. Barclay, of Hie District Bank, even went so far as to countenance compulsory saving as an ultimate expedient, bill the former rightly admit ted that public opinion is not ripe for so drastic a departure, while Hie latter left no doubt as to his preference for tlie voluntary principle."