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NOT SOCIALLY GOOD

SAVING IMPUGNED

ECONOMISTS' VlE\*/S

.- : . LONDON, ISth October.' ' It isTiot patnoticin times like the« to spend' less; than one would like, says a group of distinguished economists nor does the public interest enjoin privateeconomy. f The economists are. Mr. John Mavnard Weynes, editor of the "EconomicJournal," and chairman of the National Mutual Life Assurance Society; Sir J. A. Salter, previously director of the economic and finance section of the League of Nations; Sir W. T. Layton, editor of the "Economist," and financial adviser of the Simon Indian Commission; Sir Josiah; Stamp, director of the Bank ;of iEnglaiid,, and chairman of the- London, Midland, and Scottish Railway,- Professor D. 'H. Macgre<*or, Oxford University; and Professor.A. C. Pigou, Cambridge.University. ' t They claim to represent the views of most economists. - . When a man economises, they say, his savings accumulate in his "bank; they do not find a new home. Their entry into investment is blocked by; lack of confidence. The same argument applies to local authorities who increase unemployment by refraining from carrying out necessary public works. OTTAWA, AGREEIVENTS RESOLUTIONS CARRIED. BILL INTRODUCED ; LOXDOX, 25th Octobers The debate on the Ottawa tesoh tions in the House of Commons wa& concluded after all amendments had been defeated. .--.■■• A Labour amendment to omit the duties on fresh'fruit'-ftas negatived by 274 votes to;68:-_•;;;;:,. Mr. Ehys Dayi C g* (£ab our ) moved' to exclude unwrougKt copper from, the schedule on the ground, that it was taxing raw material, bat the Chancellor .of the Exchequer, Mr. Neville Chamberlain, resisted this. . Ha ex-! plained that the dnty on foreign copper was intended to be prohibitive, as Empire producers should be able to supply all Britain's needs at world prices. The amendment was defeated by 246 votes to 55, amid cheers. The .Chancellor then..introduced thS Ottawa Agreements .-Bill, which was. read the first time..', :"

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/EP19321026.2.71

Bibliographic details

Evening Post, Volume CXIV, Issue 101, 26 October 1932, Page 9

Word Count
306

NOT SOCIALLY GOOD Evening Post, Volume CXIV, Issue 101, 26 October 1932, Page 9

NOT SOCIALLY GOOD Evening Post, Volume CXIV, Issue 101, 26 October 1932, Page 9

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