YEAR OF OPPORTUNITY

Taranaki Daily News, 10 March 1932, Page 7

YEAR OF OPPORTUNITY

GREAT CHANGE IN BRITAIN

PERIOD OF DANGER PASSED

“NOT YET OUT OF. WOOD -

CHANCELLOR’S OPTIMISM

(■British Wireless.) Rec. 5.5 p.m. Rugby, March 8. The Chancellor of the Exchequer, Mr. Neville Chamberlain, addressing a Unionists’ meeting to-day, said he looked upon 1931 as England’s year of danger and 1932 as England’s year of opportunity. Few eould fail to be amazed at the change in affairs that had taken place in the national outlook in the past six months. They were not yet out of the wood, however, and they must carry on a little longer and go forward with confidence in the hope of a great expansion of trade and prosperity, added Mr. Chamberlain. CAN CARRY ON WITHOUT GOLD. BRITAIN “LEADING THE WORLD.” Rec. 8.30 p.m. London, March 9. Mr. Walter Runciman, President of the Board of Trade, addressing retail distributors, said Britain had surmounted great financial and commercial difficulties. Those countries which succeeded in getting immense stores of gold were now paying the penalty. “We are able to show them,” said Mr. Runciman, “that we. can carry on without the gold basis. We have put the sterling on such a sound basis that it has become the envy of the world. We are gradually getting the trade balance on a sound footing, leading the world in currency sanity, and abandoning the idea of a monopoly of gold, which means a monopoly of the world’s prosperity. BUDGET BALANCE EXPECTED. < STEADY REVENUE PAYMENTS. British Wireless. Rugby, March 8. The revenue returns for the week ending March 5 indicate that revenue continues to come in satisfactorily and that the economies forecast in the revised Budget of last September will be realised. The total revenue received during the week amounted, to £26,600,000 and the expenditure to £17,200,000, leaving a surplus for the week of £9,400,000 and reducing the deficit from £46,40,000 to £37,000,000. This is £21,000,000 less than the deficit at the same day last year. There now remains three and a half weeks in which to secure the balanced Budget which the late Chancellor of the Exchequer planned, and there seems every reason to expect that this will be accomplished. )