FINANCE BILL

New Zealand Times, Volume XXXVI, Issue 8179, 22 July 1912, Page 7

FINANCE BILL

WHY CONSOLS FALL

MR LLOYD GEORGE’S EXPLANA

TION CRITICISED

By Telegraph—Press Association—Copy rich I LONDON, July 19. In the House of Commons tho Finance Bill was road a second time by 209 votes to 221. Air Lloyd George, Chancellor of the Exchequer, defended his policy speech. Ho refuted tho suggestion that Consols and other gilt-edged securities had depreciated owing to Radical finance. Tho leader ol Uio Opposition attributed tho disqujet iu the city to the Chancellor’s speeches advising taking from tho rich in order to give to the poor. ... r Several newspapers criticise Mr Lloyd George’s expression yesterday, that one reason for the depreciation in British securities was a conspiracy to run thorn down ; this had been operating for years on platforms and in tho p*ress. and that when there existed an organised attempt to decry and disparage securities tlio result must affect the market. “The Times’’ ridicules the notion, and adds; “Air Lloyd George is the first Chancellor who has never shown a disposition to consult financial men in tho city or elsewhere who understand tho broad aspect of finance. He has adopted an attitude of antagonism, and has disdained their co-opera-tion, trusting in his headstrong ignorance.”