NEW SOCIALISTIC PARTY

Nelson Evening Mail, Volume LXIV, 24 February 1931, Page 5

NEW SOCIALISTIC PARTY

FORMED BY SIR OSWALD MOSLEY EMPIRE DEVELOPMENT MAIN OBJECT CAMPAIGN LAUNCHED IN BRITAIN INDUSTRIALISTS’ SUPPORT (United Pres 3 Association—By Electric Telegraph—-Copyright.) LONDON, 23rd February. As a preliminary to forming a new Nationalist Socialist Party a campaign is being held throughout the country. Sir Oswald Mosley is expected lo resign from the Labour Party on 25th February. The “Daily Mail” states that six letters of resignation have already been written.

The “Daily Sketch” understands that tiie resignations include Lady Mosley, Mr Stracliey and Mr Brown. The group is likely to be supported by several leading industrialists, including Sir William Morris.

“It is frankly socialising Britain, but is not a dictatorship,” Sir Oswald Mosley told the “Sun-Herald,” referring to the manifesto “A National Policy,” which is being issued to-day. The manifesto states that the creation of a 20 years’ plan for the orderly balanced "development of the resources of the Empire will be one of the greatest steps towards the conquest of economic security and well-being. With power of centralised buying in our hands we could give the dominions an advantage, compelling the rapid development- of Empire economic unity, while maintaining relations with countries offering us substantial markets, and diverting purchases from countries taking little or nothing in return. Imperial planning of the world would provide steady industrialisation of parts of the Empire which are not selfgoverning. Sir Oswald Mosley says he discussed the manifesto with various industrialists, financiers, and trade unionists during its preparation, and also representatives of the dominions. The latter gave a large measure of approval to his Empire proposals. He urges insulation instead of protection. The organisation for goods and raw materials would range from bulk purchases to licensed quotas issued by an imports control board. Other imports would have a commodity board for each commodity or group of them. The manifesto urges the granting of export- credits making possible really large scale exports of goods to Russia from the heavy industries. Britain should agree to cancel all foreign war debts if the United States does the same. The stabilisation of world price levels was indispensable. This could best be effected by co operative management of the world’s stock of gold by great central banks. As there seems to be no substantial expectation of this the next best tiling would be the achievement of a stable imperial price level by the central banks of the Empire by means of interimperial regulations freeing currencies from the world monetary chaos.

The manifesto proposes a smaller inner Cabinet Committee of five or six Ministers without portfolios, and the simplification of parliamentary procedure, enabling an executive to act with swiftness and precision. It urges the creation of a Ministry of Defence controlling the army, navy and air force, and suggests that it will be found that the British are spending vast sums on obsolete armaments which are capable of sharp diminution. A drastic reduction of sinking funds is proposed, also duties on luxury imports. Sir Oswald Mosley is opening his campaign throughout the country in March with half-a-dozen followers.