TENSION RELIEVED

Stratford Evening Post, Volume I, Issue 258, 9 October 1931, Page 6

TENSION RELIEVED

ELECTION 0 DECISION BUSINESS STIMULATED LONDON, Wednesday. The election decision has relieved business circles, stimulated the giltedged market and caused a recovery ol the sterling. Orders received by the Yorkshire textile industry since the lapse ot the gold standard total millions of pounds, ensuring work for thousands of operators well into 1932. The outlook is the brightest for years. j There is talk of a similar revival in the South Wales coalfields. An outstanding feature at the close of the stock markets to-day was the substantial improvement recorded in leading British funds following on the renewal of investment buying, toge- , ther with a sharp recovery of the sterling rate. War loan 5 per cent, bonds were finally quoted 1| points up to 98. International descriptions closed firmer. Despite appearances, Mr. MacDonald’s programme is not really nebulous. He himself is a symbol that the Nationalist forces will not be dissipated in internecine quarrels. The decision to hold an election means that all parties supporting the Government realised the overwhelming importance of crushingly defeating the Socialists, and that nothing less Can reassure the world that Britain means to face its difficulties; It is for the constituencies to complete the work the Cabinet has begun and choose candidates who are not fiscal fanatics on either side. The Manchester Guardian (Liberal) declares the election decision is merely a device to enable the Tories to intro- ■ duce a permanent system of high tari ill’s.