INTER-GOVERNMENT DEBT

Taranaki Daily News, 16 January 1933, Page 7

INTER-GOVERNMENT DEBT

REMOVAL OF THE TROUBLE

BRITAIN IN LEADING POSITION

NATION HOLDING HER OWN

PRIME MINISTER’S MESSAGE

British Wireless. Rugby, Jan. 13. “The economic state of the world is still disquieting, but in such fundamental matters as inter-Governmental debts Britain is recognised as being in the leading position in the work being done to remove that serious cause of trouble,” says the Prime Minister (Mr. Ramsay .MacDonald) in a message sent to the Conservative, candidate for the Liverpool by-election. “The Government is now engaged in an endeavour to reach a settlement of the debt to the United States, a matter which, in view of the urgency of world conditions and. the carrying out of the Lausanne Conference decisions, admits of no delay. “Despite the world’s economic difficulties Britain has held her own compared with other great industrial nations and is now in a position to take advantage of the improvement in world conditions which the Government is striving to effect. At the moment the Government is striving to remove the obstacles which are delaying the International Economic Conference. “Until that work is done there will be no prospect of any serious permanent reduction of unemployment, though we are checking the increase.” Mr. Stanley Baldwin also sent a message, in which he claims that the Government has succeeded in stemming the rise of unemployment, in balancing the Budget and effecting a great national saving for war loan interest under the conversion schemes. The adoption of the tariff policy had already caused various countries to approach Britain to modify their high protective duties.