BRITAIN’S STATUS CHANGE

Taranaki Daily News, 31 July 1931, Page 9

BRITAIN’S STATUS CHANGE

“PROFOUNDLY DISQUIETING”

NEWSPAPER’S GRAVE SUMMARY.

CRITICISM OF THE GOVERNMENT.

By Telegraph—Press Assn. —Copyright. Rcc. 7 p.m.. London, July 30. The Times in a leader emphasises that “a profoundly disquieting change has occurred in Britain’s standing in the eyes of the world owing to British credit being no longer an impregnable fortress bastioned on the solvency of industry and the honesty of national finance.”

The paper gravely summarises the decline in overseas investments in the basic trades and shipping employment and declares that foreigners know Britain is’ living beyond her means and doubt her power to co-operate effectually in facing the world-wide crisis. The Government is blamed for ignoring the unemployment report. The paper points out that the economy committee offers a second chance but that the acceptance thereof will involve a complete reversal of policy. “Britain’s difficulties are due,’’ the Times says, “solely to the Government’s reckless financial policy, and it remains for Parliament to prove itself worthy of the country in the national emergency.”