LORD WENLOCK THE LATE MR. TIM HEALY

Evening Post, Volume CXI, Issue 139, 15 June 1931, Page 9

LORD WENLOCK

THE LATE MR. TIM HEALY

(Received 15th Juno, 11 a.m.) LONDON, 14th. June. Tho Rev. Sir Algernon George Lawley, fifth Baron Wenlock, is dead at the age of 74. He was prebendary in St. Paul's Cathedral from 1907-23.

LONDON, 13th June,

The late Mr. Tim Healy, first Gov-ernor-General of the Irish Free State, who died on 26th March, left an estate valued at SIS,SB7. He bequeathed his all to his daughter and his two sons, who are his executors.

halniico ami to increase her exports, jn. spito of Customs barriers, anil even,.'it prices which give practically no profit. At the same time, she is nhliged to limit her imports, a fact which naturally upsots still more the normal exchange of goods. .1 SOURCES ALMOST DRY. The fact that foreign, capita], without which Germany's reparations could never havo been paid, has almost ceased to flow into the country lias served' to disclose the true nature of Germany's economic position. At. the same time, it has considerably increased the difficulties of the present situation. It is becoming alarmingly apparent that the continuous pressure of the demands of creditor nations is causing constant political and economic disturbances within Germany, that her economic system cannot produce a sufficient rate- of interest, and, in particular, that the course which Germany has hitherto taken —that of covering her financial needs for reparations and for capital by foreign borrowings—is loading to extremely dangerous and insupportable burdons of interest. The Iriith of the statement in the Young Plan that the solution of the_ reparations question lies not only with Germany but is a matter of common interest for all the interested nations and demands the cp-operation of all of them is becoming more and more apparent. TRANSFER OF GOLD. At the annual meeting of |the shareholders Dr. Luther, president o£ the Kciehsbank, welcomed recent discussions on the gold standard, aa having led to the recognition of ono of the main hindrances for the overcoming of the world crisis. The distribution of gold in the world, ho said, was clearly wrong. If the amount of gold per head of the population at tho end of .1913 was compared with the amount per head at the end of 1030, Germany had Rrn.ob" per head in ]9oO; against Rm.CA per head in 1913; England Em. 06, against Rm.93; France, Rm.214, against Rni.lso; and tho U.S.A. Km. 161, against Rm.SG. Thus, France now possessed by far the largest amount of gold per head of population of any nation in the world. Whereas at tho end of 1913 Franco's quota per head was two and a quarter times that of the German .quota, it-now represents six times tho German quota. Tho main causes for this redistribution of gold were the reparations payments made by Germany and the settlement of international war debts. Tho countries which were receiving the gold should create a proper balance by taking up foreign securities or by investing capital abroad. This was not happening, particularly in the case of Franc/; as a result, the world's gold holdings were becoming sterile. Dr. Luther pointed out that the withdrawals of foreign credits from the Keichsbank after the last General Election had resulted in a loss of over Rm. 1,000.000,000 (£50,000,000), which has Jiot jret been made good.