“Jitter Bugs” and Gamblers Under Fire

Northern Advocate, 28 January 1939, Page 9

“Jitter Bugs” and Gamblers Under Fire

(Received 10 a.m.) LONDON, January 26. “Let those t also ponder, who go about with white faces and trembling lips asking each other when the world war is going to begin,” said Sir Samuel Hoare in a speech at Swansea referring to Britain’s armament. . “These timid panic-mongers are doing the greatest harm because they are undermining public confidence and creating a fatal feeling of the inevitability of war when there is no such inevitability at all. “Worst of all, they are showing cowardice in the face of a potential enemy. These men, whether they are stock exchange gamblers or simply foolish, nerveless, backboneless people, are a public nuisance.” Exchange Manipulators. Describing them as “jitter bugs,” Sir Samuel Hoare vehemently denounced gamblers on the stock exchanges of the world and manipulators of foreign exchange, i , ... , ~. . “The Times,” in a leader commending Sir Samuel Boare’s speech, says: “The tone of the speech might be adopted more often in these days by British Ministers. Admittedly, Europe is passing through a time of stress, but prophets of disasters, who see the nations arraying themselves in rival camps as in 1914, have ignored at least one new and potent factor —the passionate desire of the peoples of Europe for peace, which Sir. Samuel Hoare is entitled to claim as one of the two incontrovertible facts standing out from an obscure background of fears and guesses.

No Conqueror Exists.

“The other factor is the invincibility of the British Empire-—which is not the same thing as invulnerability. War might bring Imparalleled havoc and loss before final victory could be achieved, but it is certain there exists no potentially hostile power capable of conquering the British Empire.” The speech will be welcomed at a time when the London Stock Exchange i§ repeatedly experiencing falls, largely owing to rumours which the city editor of “The Times” characterises as ludicrous enough to suggest that they are mostly originated with an ulterior motive by interested sources. Unwarranted Rumours.* The “Financial , Times” instances among the dangerous and unwarranted rumours throughout Europe, the report that Herr Hitler on Saturday will not only demand colonies but the return of the whole amount that Germany paid in reparations, amounting to £2,000,000,000. “The Times” city editor .attributes much of the stock selling in London to necessity, owing to Continental operators financing speculation in American stocks on too thin a margin. He adds that an appreciable bear possession recently developed, and slightly favourable news may produce a moderate rally.