LABOUR CONFERENCE

Stratford Evening Post, Issue 15, 5 October 1929, Page 7

LABOUR CONFERENCE

ADDRESS BY SNOWDEN. THE RISE IN THE BANK RATE. LONDON, Oct. 3. An outstanding feature of the Labour conference at Brighton was the speech of Mr Snowden in detailing the effects of the bank rate upon the labour market. He boldly proclaimed that it was no use railing at the Bank of England. The rise in the bank rate was the only means, in the existing conditions, to restore the unfavourable exchanges and correct the drain on British gold. It had been delayed as long as possible. The time of greatest strain on our exchanges was approaching, when it would be necessary to pay for food, cotton and other raw materials. If the payments were met in sterling at a discount, the cost of raw materials would be considerably increased. The rise in the bank rate had turned the American exchange in our favour with the same result in every country in Europe, except France, and even there a movement in Britain’s favour had begun. The effect of the rise on British funds was negligible. It was folly to attribute the growth of unemployment and the decline of exports to a single cause.

Referring to the Ilatry case, the Chancellor said he must await the facts before deciding on the necessity for amendments in the company law. He said. ,l l hope the committee will be able to throw light on our darkness.'' I. he effect of Air Lnowdeu s speech

was a Scottish motion in favour of bring!ng currency and bunking finance under national control, which was withdrawn. Chained to the Hails.

The other sensation, at the Labour conference was the revival of suffragette methods in the interests of Communists. Directly Mr Clyues entered, two >ouug women, dressed in black, rose in trie gallery and screamed, ‘•Down with Clyues the persecutor. Release Indian prisoners.” The stewards were surprised to find that both were securely padlocked to the railings and it took a quarter of an hour to sever the chains. The women, all the time, continued shrieking. Finally they were carried out struggling wildly, ono of them bleeding.

A number of extremist delegates angrily made a scene, protesting against the harshness and cruelty of the stewards. So another quarter of an hour was lost before business could be resumed.

The chairman, Mr Morrison, condemned male Communists for sending women to do the rough and tumble work and putting women into the firing lino instead of coming themselves.

At the election of officers Mr Oswald Moseley and Miss Ellen Wilkinson lost their seats on the national executive