INDUSTRIAL CHAOS

Manawatu Standard, Volume LII, Issue 3, 3 December 1931, Page 7

INDUSTRIAL CHAOS

POLICY OF PROTECTION. BRITAIN’S DELAY. Sill HUGO HIRST’S ADVICE. (United Press ; Association.—By Electric Telegraph.—Copyright.) Received December 3, 9.30 a.m. LONDON, Dee. 2. “The Government is still fiddling while the pound is sinking and industrial chaos continues,” said Sir Hugo Hirst, formerly a member of the Board of Trade Advisory Council, at a luncheon arranged by electrical concerns. Sir Hugo, who is chairman and managing director of the General Electric Company, Ltd., added:— “If foreigners realised that we intended a proper policy of protection money would cease migrating and dollars and francs would come to Britain, because they would bo safe.” Sir Hugo Hirst emphasised that it must be the right kind of protection, enabling the undertaking of mass production and the reorganisation of the depressed industries, pending which he hoped that no agreements would be made with foreigners. Moreover, before ' the Government negotiated with foreigners they must be clear about tlie question of Imperial relations. The Dominions could only be linked up under the proper kind of protection. Other helpful schemes included the stabilisation of silver. “I am satisfied,” he said, “that when protection is introduced the pound will rise and will eventually be able to look the dollar and franc in the face. Whether we keep off the gold standard is immaterial.” GOVERNMENT’S TARIFF INTENTIONS. DECLARATION URGED. EFFECT OF DELAY. . Received December 3, 8.55 a.m. LONDON, Dec. 2.

The Banker, in urging the Government to make an early declaration of its tariff intentions, says that the delay is not only besetting the business and financial world with uncertainty, but is making a forecast of the stabilisation of the sterling impossible. “The longer the delay the greater will be the opportunity of forestalling the tariff. The Government ought not to await the Ottawa Conference,” The Banker declares.

QUESTIONS IN COMMONS,

MINISTER’S STATEMENT CAUSES

INTEREST.

(British Official'Wireless.) Received December 3, 1.0 p.m. RUGBY. Dec. 2

Great interest was evidenced in the House of Commons in an answer by Major J. D. Colville, Secretary to the Department of Overseas Trade, to two questions designed to elicit an assurance that pending discussions on inter-im-perial economic questions no new trade agreements or fiscal arrangements of a binding character would be entered into. , , Major Colville replied: I can assure the House that the Government will enter no engagements with foreign countries which will lie likely to prejudice either the objects of the Abnormal Importations Act or any future arrangement with the rest of the Empire.”

BRITAIN’S CHANCES.

MR CHURCHILL’S OUTLOOK

“Rest not, dread naught, dare all,” says Mr Winston Churchill, in an article in the Daily Mail, drawing attention to the unprecedented Imperial possibilities and also the world problems facing Parliament. “It is a time lor will power,” he adds. “In peace, weaker countries with lar less resources have learned to make their names respected. Britain does not seek territory and has no sting of defeat to soothe, but feels that she ought to be able, by taking thought, to add a cubit to the national stature. With the Empire’s vast resources and potentialities she ought to be able to gather her children into a stronger Commonwealth and make a better living for the King’s subjects of every race and hue. “It will be hard if she cannot, with her collective brain power, procure the desired solutions of her problems and frame consequential measures to impose upon the people the indispensable disciplines and privations necessary to drive with Britain’s might through the obstacles and clangers of this confused and distracted world.”