MR. SNOWDEN HITS OUT.

New Zealand Herald, Volume LXVIII, Issue 21029, 13 November 1931, Page 9

MR. SNOWDEN HITS OUT.

MEMORABLE SPEECH. AATTACK UPON SOCIALISTS. REMARKABLE SCENE IN HOUSE. [FROM OT7R OWN* CORRESPONDENT.] LONDON. Oct. 8. Mr. Philip Snowden gave his famouswarning regarding the finances of the country in February last. When, he made what will probably be his last great speech in the House of Commons on Friday, he reminded his former colleagues that from them he never received one word of public support. The Chancellor was closing the debate on the Finance Bill. His theme for the occasion was a merciless and contemptuous exposure of his late Socialist colleagues with whom he had sat for aquarler of a century. Ho ridiculed the whole Socialist Party for stupidity and irresponsibility. At first the Socialists were stung to protest, but in a few minutes they were stunned to silence. On the Government side at first there was unconcealed glee at the drubbing he gave their opponents; but this mood presently changed to one of strained astonishment at the unlimited capacity of Mr. Snowden's anger. "I gave the House last February," Mr. Snowden proceeded, "a statement of the financial position of the country. I never received one word of public support for the position I put forward from any member of the Government now in Opposition. I also addressed a meeting of the.Labour Party, and in what I expected would bo the secrecy of the meeting—it was afterwards betrayed—l spoke more frankly than to the House of Commons. "What support did I get there? I got none. Tho only thiug they did was to talk their old claptrap about going to the super-tax payer." (Cheers and laughter.) A Socialist Member: You taught us that. Mr. Snowden: I tried to teach you. I am terribly disappointed. My teaching has neither been understood nor appreciated." (Cheers and laughter.) Reaching the Rapids. Turning to the Budget, which has now reached such figures -that even the Socialists are alarmed —such members as Mr. Strachey expressed the conviction that ! capitalism cannot continue if. as now, onethird of the country's income is taken in taxation—Mr. Snowden agreed that this was most important. He said: '"With declining national income and increasing taxation you are rapidly reaching the rapids, and you will pass over them unless you do something to arrest the course. "I ain sorry to say," Mr. Snowden went on. with a further attack on the Socialists, "that I" cannot introduce into a Finance Bill proposals for the abolition of capital. I shall have to leave that to someone else. But I say what I have often,said, that any catastrophic effort to abolish capital will bring far greater sufferings to the people than those under which we are suffering now. That is something at least that I have taught my colleagues in the Labour Party." A Revised Programme. The Labour Party had a .revised programme which was to be submitted to the annual conference. "I made a calculation that the programme would add £1,000.000,000 a year to the national expenditure if that programme was caniedi out. Let my friends on the other side remember that it my programme is carried out, they should not blame me for leaving some treasure in the locker. That, may be available for them. (Cheers.) '"'This Budget, with all -Is shortcomings, has met with an unparalleled acceptance bv the whole country. This Budget places the internal resources of the country cn a sound financial basis on whicll we can build, and as was sail by the President of the. League of Nations Assemblv. it sets an example of an excellent kind of the ability of the British people to face up courageously to adversity. (OH 6crs.) When lie sat down there was the extraordinary spectacle of Conservatives crowding around him to pay their compliments, while one by. one, with dark looks, the Socialists walked out of tilt, House glaring at their old leader.