ON FIVE FRONTS

Gisborne Herald, Volume LXVII, Issue 20185, 1 March 1940, Page 5

ON FIVE FRONTS

SUCCESS OF ALLIES “MARCHING TO VICTORY” MORE SAVINGS NEEDED SURVEY BY ECONOMIST (Elec. Tel. Copyright—United press Assn.) (British Official Wireless.) Reed. 9 a.m. RUGBY, Feb. 28. In a speech at Dover, the economist Sir George Paish spoke of the “five fronts” on which the nation is fighting—naval, military, diplomatic, economic, and financial. On the naval front, he said, the Allies were completely victorious, on the military, the German Army was in a state of stagnation, while on the diplomatic front world opinion was steadily swinging in favour of France and Britain. According ’to his information, said Sir Geo. Paish, German distress on the economic front was increasing, was likely to increase, and might become desperate before the next harvest. The financial front must be giving grave concern to the German financial authorities, for a very large part of Germany’s expenditure was being provided by note expansion, which was giving rise to fears of runaway inflation. On all fronts, therefore, he said, the Allied Powers were marching to victory. Sir George said that nearly £100,000,000 had been provided by the sale of national savings certificates and defence bonds in under three months, but this was a relatively small sum compared with the amount needed, and he asked that the sum reached in the next three months be a much greater total.