BRITISH NEWS

Otago Daily Times, Issue 17942, 22 May 1920, Page 9

BRITISH NEWS

LUXURY BUYING.

THE END IN SIGHT.

Press Association—By Telegraph—Copyright. LONDON, May 20. (Received May 21, at 7.35 p.m.) London's post-war period of extravagant luxury-buying and enormous profits shows signs of ending. The verge of the busiest season finds West End businessmen anxiotis to unload heavy stocks, fearing the possibilities of the economy craze and the consequent slump in buying. The increasing d earn ess of money contributes to the downward pressure. "Managers of hotels, restaurants, and shops indicate that the high spending will soon b» confined to the new rich. _ Modistes declare that women in the highest social positions are cutting down dress expenditure two-thirds—A. and N.Z. Cable.

BRITAIN'S BULWARK.

RELIANCE ON THE NAVY.

LONDON, May 20. (Received May 21, at 7.35 p.m.) Mr Winston Churchill, speaking at the opening of the military tournament, said that now we had again the broad sunlight of victorious peace we had to maintain, on the soile of the army before the war, a small defensive army for Imperial police duty to keep alive those traditions which generations hence might be the means of enabling our various communities, which were usually unprepared, to escape disaster. The navv must always remain on a mobilised scale. The navy always had been, and always must be, strong enough, whatever happened, to enable all other deficiencies to be repaired. —A. and N.Z. Cable and Renter.