FINANCIAL PROBLEMS.
BRITISH GOVERNMENT. AVAILABLE FUNDS RAIDED. Australian and N /.. Press Association. (Received October 1, 11.35 p.m.) LONDON. Oct. 1. The First Lord of the Admiralty, Mr. A. V. Alexander, speaking at the Laboul Conference at Brighton, said that when the Government came into office it found every available fund had been raided and every kind of financial difficulty had been placed in I lie way of the beneficent intentions of tho Chancellor of tho Exchequer, Mr. Snowden. Also the Government had to face difficulties due to the crisis in ths city. Sir Oswald Moslcy, Chancellor of the Duchy of Lancaster, said the raising of the bank rate would inevitably increase the difficulties ot unemployment. Undoi the present conditions it was within the power of tho Bank of England to put two men out of employment for every man the Government put in. That was the situation the Government had to face. Otherwise it. would bo confronted by a dilemma which must destroy it.
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New Zealand Herald, Volume LXVI, Issue 20375, 2 October 1929, Page 11
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164FINANCIAL PROBLEMS. New Zealand Herald, Volume LXVI, Issue 20375, 2 October 1929, Page 11
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