STEMMING FLOOD

Gisborne Herald, Volume LXVII, Issue 20270, 11 June 1940, Page 5

STEMMING FLOOD

ALLIED DYKES HIGHER AND HIGHER ALL EFFORTS NEEDED CALL TO INVESTORS ADVICE OF CHANCELLOR (Elec. Tel. Copyright—United Press Assn.) (British Official AVireless.) Reed. noon. RUGBY, June 10. Speaking at the Guildhall at the opening of the national savings week, the Chancellor of the Exchequer, Sir Kingsley Wood, enumerating the assets which the Allies possess, spoke of their sea power and the individual superiority of members of the air forces.

“There is our ally France,” he continued. “We at this hour salute the great French Army. Their courage, determination, wonderful resistance and fortitude fill us all with the highest admiration.”

Saying he would not dwell long on the flood which was threatening the Allies to-day the Chancellor likened the present efforts to those of “men building a dyke against the sea.” It must be higher and higher if the floods were not to break through and submerge all landmarks, making previous efforts vain. He had no doubt that the dyke would be built high enough and strong enough to stem and defeat the elements, however fierce and strong they might be. Vast Quantities Necessary

In building that dyke vast qha'ntities of materials were necessary. After referring to the in taxation, of which he warned the Hou.se of Commons recently and which, he said, would be borne willingly and cheerfully, the Chancellor spoke of the savings campaign'. ‘‘lt is now 200 days since the war savings campaign started with the introduction of the new issue of national savings certificates and the new 3 per cent defence bonds,” he said. ‘‘During that period the sum invested in these two securities and in the increase in balance due to depositors in the Post Office Savings Bank and the Trustee Savings Bank has amounted to over £200,000,000.” Find as that response was, he continued. the efforts must be intensified and made greater still. The conflict must be financed by all members of the community, companies as well as individuals. The Chancellor said he had under constant consideration the time when and the form in which the next appeal to the large investor would be made.