OUR LONDON LETTER

Timaru Herald, Volume CXXXVII, Issue 19805, 22 May 1934, Page 5

OUR LONDON LETTER

BANK VAULTS FULL OF GOLD

A LAW TO END THE TITHE WAR (From Our Own Correspondent.) LONDON. April 5. If gold alone mean prosperity, Britain's outlook would certainly be happy. For in the past few weeks gold has been pouring into London at a rate unequalled since before the country “went off gold.” During a single week ships and aeroplanes brought nearly six million pounds worth of bullion to Britain. The Bank of England's strong rooms now hold about 190 millions, and it is estimated that more than 200 millions lie in the vaults of the private banks. By-far the biggest consignments during the past few weeks have come from Germany and France. But shipments of gold have been sent from a score of other countries, including India, Australia, South Africa, Kenya and Uganda, Canada, Iraq. Japan and even such places as Trinidad and the Bahamas. The Safest Country. But unfortunately the mere possession of gold does not in itself mean prosperity. France, which holds the largest gold stocks in the world, -.s suffering from an acute financial crisis; and the great slump from which America is now trying to extricate herself began at a time when the banks were bulging with gold. On the other hand, there is one ground for satisfaction in the present rush to send gold to Britain; it means that bankers all over the world regard London as the safest place in which to deposit their money. For the rest, the causes of the present movement of gold lie largely in the realm of “high finance.” and have little to do with the nation’s prosperity. Some of the millions are being sent here by financiers who think President Roosevelt will shortly devalue the dollar still further. London being the nearest capital to New York, they will then be able to rush their gold across the Atlantic and sell it at a high price to America. Other foreign bankers are accumulating stocks in London in case Britain should return to the gold standard—a prospect which is still remote. Higher Civil Service Salaries. Civil servants, who had to suffer pay cuts in the cause of national economy, are gratified to see that in the estimates issued this week provision is made for higher expenditure on salaries. This does not mean an all-round increase in pay, but the figures show that there will be some welcome “rises.” The Post Office, for example, js spending nearly a quarter of a million pounds more on salaries, although the staff has actually been reduced. In the Customs and Excise department salaries are more than £IOO,OOO up, yet the established staff has been increased by only 300 men. Meanwhile, the Civil Servants are still hoping that the 10 per cent, “economy cut” will shortly be restored. Farmers Who Resist Tithes. At long last a Bill is to be brought before Parliament to deal with the chaos of tithe collection in England. Many farmers resent having to pay this due on their land, and actively resist it. The British Blackshirts have lately been helping some of them to barricade their farms against the tithe collectors. When a farmer refuses to pay, the bailiffs are entitled to seize his farm machinery, cattle or produce and auction it to defray the tithe. This move is usually defeated by neighbouring farmers, who refuse to bid more than a few pence at the auction—and afterwards return the property to the defaulting farmer. This kind of thing has been occurring all over the country. Often, of course, the farmer is really unable to pay the tithe demanded and would oe ruined if deprived of his implements or stock. But in other cases he is resisting from a feeling of injustice, and actually has plenty of money with which to meet the tithe. The new law will treat him like any ether debtor. If he does not pay he can be taken io court, and the judge may make an order to pay in accordance with the man's means. There will be no more farcical “auctions” and a defaulter who disobeys the court may be sent to prison. On the other hand, there will be provision for greater relief in cases where the tithe is really excessive. Thus it is hoped to appease both sides, and put an end to the "tithe war” m rural England. A Brilliant Detective. One of France’s most brilliant detectives, M. Peudepiece, has been over in London this week investigating the Stavisky affair. He was known during the war for his remarkable work in tracing down spies. Among his captures was Condoyanis, a Greek actor, who was one of Germany’s most valued secret agents. The capture meant much more than the silencing of a single spy, for before his execution Condoyanis revealed the German secret code. The Greek met his death with marvellous coolness. Standing before the firing squad, he recited an Ode to Nature and then himself gave the order to fire. Speaking of the Stavisky affair, it is rumoured that startling developments '‘will follow the shooting of certain films that were taken just after his shooting at Chamonix. The official version, as everyone knows, is that Stavisky committed suicide as the police approached his villa. But now it transpires that three film companies were there to take pictures. How did they know there was going to be anything to film? The suggestion is that the “suicide" was arranged in advance by the police, who notified the film companies. Photographs of the body, it is alleged, show t’ at Stavisky could not have shot himself, but must have been killed by police bullets. Motorists Angry. Motorists are already protesting loudly against the proposed reintroduction of a speed-limit by the Government’s Road Traffic Bill. A great sigh of relief when up from drivers when, a few years ago, the speed-limit was abolished. But since then the number of accidents has continued to increase. Last year more than 7,000 people were killed and 216,000 injured on the roads of Britain. So now the speed-limit is coming back in a modified form. If the Bill passes, it will be an offence to drive at more than 30 miles an hour in towns and villages. On the open road you may go as fast as you like. But the novel feature of the Bill is that pedestrians are for the first time to be "regulated” by law. Special "safety zones” will be provided for crossing busy streets; and if the experiment proves a success people may be fined if they neglect the “safety zone” and try to cross somewhere else. Motorists ought to be pleased with this, for they always claim that most accidents are caused by the carelessness of the pedestrian rather than by the speed of the motordriver.