BRITISH FINANCES

Poverty Bay Herald, Volume LV, Issue 17143, 27 December 1929, Page 5

BRITISH FINANCES

SOME BITTER SPEAKING CHURCHILL AND SNOWDEN (JJlec. Tel. Copyright—United Press Asbb.) (Received Dec. 27, 10 a.m.) LONDON, Dec. 25. Mr. Churchill, discussing finance in the House of Commons, commented on the honors bestowed on Mr. Philip. Snowden since The Hague Reparations Conference, but the more the indulgence and honor shown, Mr. Snowden became the more crapulous and dictatorial. The Chancellor had been anxious to cast the blame for his selfmade difficulties upon his predecessor's shoulders. Examining Mr. Snowden's record for the past .six months, Mri Churchill pointed out that at-The Hague Mr. Snowden only carried out the policy ho (Mr. Churchill); had laid down, when Chancellor. Certainly Mr. Snowden had made a good fight at The Hague, but in such a rasping and provocative manner that possibly he had lost a good deal of his small gain; indeed, he gave away more than would have happened under the preceding Government's arrangements. It was a matter for serious criticism that Mr. Snowden had failed to take advantage of the great opportunity to obtain the liberation, of the declarations in the Belfour Note and the selfdenying clauses that we should 'not, have taken from us for the payment of our debt to the United States. It would have been.his (Mr. Churchill's) policy, if there had been the slightest infringement, immediately to claim release. Mr. Snowden still had that opportunity at The Hague on January 6. ADDITIONAL BURDENS

Alluding to the late Government's difficulties arising from the general strike, Mr. Churchill asked where was Mr. Snowden during the strike...He went into hiding. Mr. Churchill invited Mr. Snowden to say what ■ was the actual amount of the country's additional burdens which he had countenanced in the last six months. The Chancellor was using the silk and McKenna duties as a wedge between the opposition parties in the hope of gaining a bridge of support for his future budget. Mr. Snowden did not care a snap of the finger that 20,000 additional unemployment might be created. Mr. Snowden said Mr. Churchill need not apologise for .the length of his speech, which was appropriate to * the Occasion, because this was only a season of pantomime. (Laughter.) Mr. Churchill said that only eight months ago he had proclaimed the saneity of f the Balfour Note, from which, he said, the country would never be asked to bo relieved. If Mr. Churchill had adopted some of his rasping manner in his negotiations with France and Italy he might' have obtained a settle* ment more favorable to Britain. All Mr. Churchill's difficulties arose before the strike in remitting taxation for the benefit of his political friends, and aiding every reserve fund. It was his (Mr. Snowden's) lot to make up* Mr. Churchill's deficiencies and £00,000.000 liabilities, which Mr. Churchill could not meet from revenue, also £50,000,000 due to his raids. Had Mr. Churchill's Budget been a company's balanee she*'? he would have found himself in the dock. (Labor cheers.) There was also the task of making up i. 19,000,000 which Mr. Churchill short paid into the sinking fund, which must be restored -if Britain's credit were to be maintained. Virtually the whole of the present Government's increased expenditure was due to its predecessor's .commitments.