PLEASANT SURPRISE

Evening Post, Issue 2, 2 July 1932, Page 11

PLEASANT SURPRISE

SPRUNG ON COMMONS

CONGRATULATIONS

. LONDON, Ist July. The House of Commons had no inkling of Mr. Chamberlain's statement on the big loan conversion scheme until it saw the front bench unexpectedly fill up. Amid cheers, tho Chancellor announced details of the scheme. He, explained that Major-General Seely had agreed to take charge of arrangements for familiarising the public with the scheme.

The Stationery Office has been working in hot haste under lock.and key since 5 o 'clock on Thursday printing 3,000,000 forms enabling holders in the loan to indicate their intentions regarding their holdings. These will bo completed in twenty-four hours. Tho secrecy with which the matter wag organised is regarded as a triumph for the Treasury.

The broadcasting in'Ogrammo was interrupted in order that a verbatim report of Mr. Chamberlain's speech might bo broadcast.

It is estimated that the conversion will save £32,000,000 a year, beginning on Ist June, 1933, allowing ■a. consequent reduction in the income-tax surtax. Tho net saving, will be £23,000,000. BEST FORM OF ECONOMY. In the House of Commons, the Leader of tho Opposition, Mr. G. Lansbiuy, said that the Opposition was delighted that at long last an effort was being made to put this enormous debt on a proper footing. "We agree that it is the very best form of economy,"

THREE MILLION ENVELOPES

(British Official Wireless.) (Received 2nd July, noon).)

■■ ■- RUGBY, Ist July. The huge task of printing the forms for the conversion scheme began immediately after the Chancellor had announced the project last night and has continued since at high pressure. Officials are printing fifteen million forms and dispatching them by post in nearly three million ' envelopes. Within twenty-four hours the task wil' be accomplished. .