BUSINESS, NOT CHARITY.

Taranaki Daily News, 24 May 1932, Page 4

BUSINESS, NOT CHARITY.

An indication of Great Britain’s determination to treat Continental matters on a business footing was given to the House of Commons last week. Referring to the financial crises in Austria, Greece and the Danubian States, the Undersecretary lot Foreign Affairs. Captain

R. A. Eden, told the House that Great Britain had declined to guarantee loans for the temporary accommodation or those States. He added that Great Britain considered the countries concemei should not expect to be maintained in their present conditions by external n ancial help. In other words, ,the on y wav in which the States could mam ■ their credit was by paying their debts. It is a remarkable coincidence that w announeeineiV. of this decision s 10U have synchronised with changes ot ernnient in Austria and Greece, of these countries have made many I peals to Great Britain for financial assistance in the post-war years, and - appeals have n-ivcr been in Y a , in ' ist . fortunately the ease with which . a js ance was obtained has led to a rel upon borrowing and extravagance > n ‘ ministration and armaments. • n „ i f: K i l sequence is J hat interest duo to investors has not been paid, rc< l u , psts n . further loans being based upon the c tries’ inability to pay the interest wU out further assistance. 1!1 ® gl j Powers—-Britain, France, Geiniany < Italy—have agreed that it is no use _p polling the evil day any longer and that the position must be faced by th ® - faulting States. England s rolc .™ " L versal protector” has been definitely dropped.