EUROPE’S UNREST

Gisborne Times, Volume LXXXVI, Issue 13093, 15 February 1937, Page 5

EUROPE’S UNREST

WITHIN FIVE YEARS! BRITAIN WILL COMPLETE 150 WAR VESSELS. 3000 SECRET PLANES AFTER NEXT YEAR. (U.P.A. by Elec. Tel. Copyright). (Received Feb. 14, 5 p.m.) LONDON, Fel. 14. The --Sunday Graphic forecasts that tho Defence White Paper which is expected on February 10 will discloso that Britain will complete 150 warships of various types, including eleven super-dreadnoughts, in the next live years. ’ There will bo deliveries totalling 3000 aircraft and containing secret improvements from 1938 onwards and reserves of ammunition and equipment for an army costing £2‘, 500,000 in the event of an emergency.

CZECHS TO ENLARGE ARMY. “EXTRAORDINARY EUROPEAN TENSION.” U.P.A. by Elec. Tel. Copyright). PRAGUE, Feb. 13. Cabinet has authorised an increase in tlio strength of the standing army from 150,000 to an unlimited number in view of the “extraordinary European tension.*' HOLLAND DOES NOT WANT TREATY WITH GERMANY. THE HAGUE, Fel*. 13. Tho Government has informed Germany that it appreciates her good int' litions but does not desire to conclude a treaty with another country regarding Holland’s integrity.

UNITED STATES SHORT OF STEEL. WORK ON WARSHIPS HALTED. (U.P.A. by Elec. TeL Copyright). (Received Feb. 14, 5 p.m.) WASHINGTON, Feb. 13. The M ar Department lias announced that thi? construction of six new destroyers and three submarines has been halted owing to a steel i-hort-agc. Fears are expressed that tun two new battleships will also be delayed. Steel manufacturers are opposing the Walsh-Healoy law, specifying wage hour standards and have refused to bid. The Navy needs at least 25,000,000 lbs. of stool. Not oven the keels of the destroy ers and submarines have been laid although some of the contracts were let in December last.

BRITAIN’S DEFENCE LOAN “STABLE SECRETS” (U.P.A. by EJec. To!. Copyright), deceived Feb. 14, 6.30 p.m.) LONDON. F’eb. 13. The .City, which, for weeks, had gloomily expected a blow on the chin, found that rearmament rather resembles the! kick of a mule, but it is still in the dark a.s to how! Mr Chamberlain proposes to set the financial machinery in motion. “Stable secrets” whispered a few weeks ago to the effect that there would lsc no new borrowing before the autumn, are regarded as still sub istantially correct. The Investors’ Chronicle expects the first instalment of the Defence loan will total around sixty millions with an income tax of five shillings and increases in indirect taxes. It considers the Bank of England must increase its supply of bank cash to enable the hanks to support giltedged securities. There is no reason why the Defence loan should precipitate' inflation, if recovery continues. The immediate view of the markets is that there is nothing, at present to fear and consequently quotations, for most securities, excepting armaments, are marked down. “Gilt-edg-ed industrials” have suffered a severe setback.