THE BRITISH MORATORIUM.

Rangitikei Advocate and Manawatu Argus, Volume XXXIX, Issue 11111, 28 November 1914, Page 5

THE BRITISH MORATORIUM.

MINISTERIAL EXPLANATIONS. A STATESMANLIKE ARRANGEMENT. Received Nov. 28, noon. Loudon, Nov.. 27. Mr Lloyd George, speaking in the House of Commons, said at the beginning of the war this country could neither buy nor sell, because exchange had broken down, though the whole world owed us money. America alone owed us one thousand million. He assured the Labour Party that the moratorium was not forced to save a few rich people, but to save British industry, commerce, labour and life. With eighteen thousand millions assets it would have been criminal negligence to allow the credit of the country to be in doubt lor 24 hours for the sake of 350 millions, of which most was owing to our own people. BRITISH STEAMERS SUNK. A German submarine sunk the British steamer Malachite near Havre. The crew landed at South-, ampton. It also sudk, tlfb steamer Prime off Cape Antifer and the crew landed at Fecamp,