BRITISH ECONOMIC SITUATION.

Colonist, Volume LXI, Issue 151034, 28 July 1919, Page 5

BRITISH ECONOMIC SITUATION.

NEVER MORE MENACING

SPEECH BY MR. ASQUITH,

PARLIAMENTARY AUTHORITY

NEEDED

(Australian and N.Z. Cable Association)

(Received July 27, 11.5 p.m.) London, July 26. Mr Asquith, speaking at Edgeware, expressed serious misgivings regarding our policy in Russia. The future Government of Russia should be made by the' Russians alone*.

He said the latest official pronouncement regarding Ireland was most disquieting and discouraging. The economic conditions of the world and of Britain had never been more menacing We had a faulty administration. There ■were excessive prices, an inflated currency, and extravagant profits in favoured trades, and transport facilities were deficient and dislocated. These legacies of war demanded prompt and drastic handling. There was no common policy for the co-ordination of powers under a central responsible Government. Public expenditure was rising, and there had never been so many placemen in the House of Commons since the days of Queen Anne. No* House of Commons had ever within sis months of an election possessed in a lesser degree the nation's confidence and respect. We needed a real reprer sentative Parliament. We would never make a real advance towards industrial .Peace until we were able, with full oabmet authority, to deal with the situation as a whole.

Referring to the reactionary spirit underlying the Triple Labour Alliance's ballot, Mr Asquith said it meant direct action. Ho earned his hearers that Parliamentary institutions here and elsewhere were undergoing a severe trial, and they would not emerge with success unless they wore developed -b meet present needs. Meanwhile there must be no delay in restoring to the House of Commons permanent independent authority over the whole machinery of government. Never before was the Liberal Party more needed with its principles of freedom, equality, and diffusion of justice for all men.'"