MR RAMSAY MACDONALD

Otago Daily Times, Issue 21694, 12 July 1932, Page 7

MR RAMSAY MACDONALD

A GREAT WELCOME HOME (British Official Wireless.) RUGBY, July 10. Mr MacDonald was accorded a most enthusiastic welcome when he returned to England. He was accompanied by the British Ambassador (Sir William Tyrrell) on the journey from Paris to Boulogne, and the Mayor of Folkestone welcomed him in the presence of a large crowd as he came ashore. It is estimated that 5000 people thronged the approaches to Victoria station, where Mr MacDonald was welcomed on behalf of the King by Sir Clive Wigram. Mr Baldwin and other members of the Cabinet then extended greetings, and warmly congratulated him on the success of the conference. The Prime Minister said: “I am very glad to get back after a strenuous time on behalf of a most admirable cause. I hope that it will be the beginning of confidence, hope, and good honest work.” The cheering continued as the Prime Minister drove away, and another large crowd in Downing street gave him a great welcome when he entered the official residence. Soon afterwards the Prime Minister drove to Buckingham Palace, where he was received in audience by the King, who was accompanied by the Prince of Wales and Prince George, who is leaving to-morrow for Weymouth for a visit to the Home ■fleet. ‘ ■ ” / _ Sir Thomas Border, the Prime Minister’s medical adviser, was at Folkestone to meet him, and travelled with him to London, and Mr Duke Elder, his oculist, awaited him at D -ning street. They pointed out that in view of the intense and constant strain during the last four weeks, a complete rest was essential .until Tuesday, when the Prime Minister will make his promised statement on Lausanne in the House of Commons.

It is stated that his eyes have stood the strain of the work admirably. A large number ,of of congratulations were .received at Downing street from statesmen iff all .parts of the . world. ' ’■ . It is expected that the Prime Minister will leave London for Lossiemouth at the end of the week. BEGINNING OF NEW ERA (British. Official Wireless.) RUGBY, July 9. Mr Neville Chamberlain,,, in an interview, said: We have had a gteat, success, ■ and I think we may fairly , say we have got • what we wanted to get. Reparations have been r-ept away, and we have begun a new era. I hope that the old doubts, and suspicions will begin to disappear. We have our feet now on firm ground, and we go forward with confidence to attack 1 the problems whichstill lie in front of us.” NO ENTHUSIASM IN GERMANY

BERLIN, July 11.- , (Received July 11, at 8.30 p.m.) There ,is no. enthusiasm in Germany over the Lausanne settlement and very little expression of satisfaction. Herr Von Papcn officially informed the nation that the result means relief from the fetters of reparations’arid the beginning sof a new era, but-the. supporters of the Papen Government announce their intention of sending him to the wilderness for his pains. The Hitlerites declare that they do not feel bound in any sense to accept a treaty concluded by a Cabinet of. weaklings. The Hitlerite newspapers announce that no Reichstag in which the Hitlerites have power will ratify the treaty.: : ' , The Communists repudiate the Lausanne agreement altogether. ' Dr Hughenberg, a Nationalist, in a speech at Berlin, said: “We are pot stubborn .when we say we cannot pay £160,000,000. We recognise our private debts, but we are only able to. pay a proportion. There are only two possibilities—either our creditors, through trade agreements, must buy our goods, or. our colonial possessions ffiust be restored.”

Herr Hitler, addressing 15,000 Nazis at Bavaria, said: “Six months hence this marks treaty will not bewdrththree marks.” ! SECRET PACTS FOUR SIGNED BY BRITAIN LONDON, July 11. (Received July 11, at 9 p.m.) The Daily Herald’s Lausanne correspondent says: “French circles state that apart from the agreement to end reparations, Britain has bound herself by four secret pacts, whereby Britain, Franc and Italy undertake not to ratify the Lausanne agreement unless a satisfactory arrangement is made with their own creditors.- Moreover, none of the three Powers will, make a settlement with the United States contrary to the interests of the others.” EFFECT IN DOMINION MR FORBES INTERVIEWED (Peb United Pbess Association.) WELLINGTON, July 11. “The announcement regarding the settlement at Lausanne ; is particularly gratifying,” stated the Prime Minister (Mr G. W. Forbes) in an interview. “ It marks a definite step forward in the recovery of world economic conditions. It is considered that among the most pressing' problems facing' the world today are reparations, inter-Governmental war debts, and price stabilisation, and the settlement of the reparations question, which is generally regarded as the most difficult one, augurs well for a successful solution of the other problems. The : direct result to this Dominion will be a loss of reparation payments from Germany amounting to £350,000 per annum, but the effect of the settlement, it is anticipated, will be a marked restoration of confidence generally, which is a sine qua non to increased commercial activity. Any factor, which improves the purchasing power of the Dominion’s overseas customers will be reflected in improved conditions locally. In view of the fact that our prosperity is so intimately bound up with economic conditions in Great Britain this agreement is the first step to economic recovery and the next step is the cancellation or a drastic scaling down of inter-Governmental war debts, which for the past 12 months have been suspemjgd by what is known as the

‘ Hoover ’ moratorium. Our war debt to Great Britain was not directly covered by this moratorium, but Great Britain, with characteristic generosity, gave a similar concession at her own expense to those dominions which were indebted to her for war loans. Our funded debt on this account to Great Britain, which origfhally amounted to approximately £27,530,000, was at the time of the moratorium being paid off by annual instalments of £1,050,000, representing principal and interest. If the success of Lausanne can be repeated in respect to inter-Governmental war debts then economic agreements to raise the world price level and restore international trade should become possible. There are still some formidable obstacles to be overcome. A successful outcome of the disarmament conference would, of course, greatly facilitate the process of world recovery, but it can be said with confidence that one of the biggest hurdles has been surmounted and that more rapid progress may now be expected.”