ONLY CHANCE OF SALVATION.

Timaru Herald, Volume CXXIII, 13 October 1926, Page 9

ONLY CHANCE OF SALVATION.

EUROPE’S ECONOMIC LIFE. LOCARNO PACT FOR INDUSTRY. By . Cable—Preaa Association —Copyright. - Australian and N.Z. Cable-" "Association. (Received October 12, 10.35 p.m.) LONDON, October 12. A Berlin evening paper publishes an article by Sir Robert Horne, stating that the only chance of salvation for tho economic lifo of Europe lies in a Locarno for industry. The stoppage of tho coal industry in Britain is threatening wide circles of trade with collapse. Depression is rampant in shipbuilding, shipping, woollen and cotton trades. The year 1926 is one of the most difficult years Britain has ever known 1 . It is urgently necessary to stabilise British industry by co-opera-tion with European competitors, instead of cut-throat competition.

CANADA FEELS EFFECT OF COAL STRKE.

GRAVE CONSEQUENCES FEARED

By Cabin—Preia Australian &Dd N.Z Cable Association. (Received October 12, 10.35 p.m.) VANCOUVER, October 11. Messages from Regina (Saskatchewan) report flint tho prolonged stoppage of tho British mining industry is having a serious effect upon the export trade of Canadian grain and butter.

Officials of tho Saskatchewan wheat pool and co-operative creameries declaro that unless some relief to the present situation comes befqre the freeze up, there may be a serious congestion in the movement of tho wheat crop. "

An. official of tho pool added that ocean freight rates had jumped a.-out 50 per cent., and a similar increase was expected on tho rates prevailing on tl e Groat Lakes. A shortage of tonnage available for shipping grain had caused the increase. This shortage was

no to the transfer of vessels normally used for carrying grain from Canada to Britain, to the. work of carrying coal from tho United States to supply the needs of British industries.

ANGLO-GERMAN DISCUSSIONS.

UNITY VISUALISED BY DELEGATES. By Cnfcl<y—Press Association—Copyrleht, Australian ,m-t N.Z. CnM* Assoclatlen. (Received October 12, 9.35 p.m.) LONDON, October 12. ■Speculations arising out of the Anglo-German industrialists discussions at Broadlands, continue, Jbe “Daily Chronicle” asserts that it was generally agreed that the continued building tip of tariff walls was harmful. The delegates visualised the United Free States of Europe, with an international circulation of products, unhampered b.v any protective conditions, and it was resolved to endeavour io educate the European nations from this viewpoint, a task which, it was recognised, would take years. The delegates also discussed plans to avoid dumping.