DEEENCE POLICY

Waikato Times, Volume 121, Issue 20118, 13 February 1937, Page 7

DEEENCE POLICY

GIVING IT EFFECT i . l DEBATE NEXT WEDNESDAY l LEGISLATION WITHOUT DELAY. ‘ (Official Wireless.) (Received Feb. 13, 1.30 p.rn.) 3 RUGBY, Feb. 12. I A Bill seeking authorisation for the treasury to raise capital or use realised budget surpluses for defence expenditure will be presented to Parliament without delay. 1 The neeeeeary money resolution ‘ will come before the House of Commons on Wednesday, when there will be a full opportunity for debate. The newspaper; point out that the figure 8 per cent., while It may in part be a guide to probabilities, does not refer to the rate to be payable to Investors but to Internal treasury arrangements. SCORES 0F MILLIONS NEEDED. MONEY \VILL BE FOUND. INDUSTRY NOT TO BUFFER. i (Omclsl wireless.) . (Received Feb. 13. 1.40 pm.) I _ RUGBY, Feb. 12. : Sir Samuel Hosrc, First Lord of the Admiralty, In a speech at Birmingham on rearmament said:— i “The defence programme must in—evitably cost scores of millions. ‘ “We shall find the money as we have found It In past emeri nenoles, and we shall find It . wlaely, fairly holding the balance between all classes of the com- ‘ munity and between sums that can rightly be regarded as capital expenditure and sums that must ‘ be found by annual taxation. ‘ “While it is an essential that a great part of the expenditure should be paid for In the annual budget, it is not reasonable that the deficiencies of many "years should be entirely met by ‘t'he taxpayer oi' the present year or ithe years immediately before us, On ‘this account there is every justification for finding a substantial part of the expenditure from loans to be repaid over a term of years. We do not ‘like loans of this kind. but in the present circumstances loans are inevitable. ”Wisely and carefully administered, Ido not believe it will shake our credit or endanger the supply of cheap money so essential to British industry. ‘ ‘A strong defence, sound finance, and contented and united people and Empire are the aims to which 'the Government's mind Is constantly fixed." ADVANTAGE 0F SINGAPORE. SAFETY OF LONDON. BALLOON BARRAGE SCHEME. United Press Assn.——Erec. Tel. Copyright LONDON. Feb. 12. The aviation correspondent of the Daily Mail at Singapore reports that the recent manoeuvres there save overwhelming evidence of the advan—tage of oversea air patrols. This lesson, he says, is supremely important to the strategic del'ence of slugs—pore, Australia and New Zeal-and. which, equipped with aircraft. will be less vulnerable than in the past. It is announced that plans have been made by the Air Ministry for. the manufacture at. the HOW! AWN“? Works. Cnrdington, near ‘Bedford, of a certain number of balloons for use in balloon barrages, which will form part of the air defence of London. Since the construction of ail-ships was discontinued at tint-dingtun. “‘6 establishment ’here has been maln—taiucd on a skeleton basis. ._...___———— . OPINION m BRITAIN. PRESS COMMENT. LEGISLA’FORS‘ VIEWS. AN ITALIAN DEDUCTION. United Press Assn—Else. Tel. Copyright LONDON, Feb. 1!. Mr Chamberlain‘s announrcment about the proposed dol‘cncc loan was made am“- the rinse of business on tho London Slack Exchange and consc~ qucully (lid uni nl‘i'ccl prices. The mar~ kot already is dull and is not lilirly, in tho opinion 01' the Uiii' ““1"" of ”11‘ Thurs. to derive much L‘HCUUI'RIKUIIIIHIL from the slutcnient. Conditions for the raising of the loan are hardly favournble at present. The Times in an editorial article says: "The scale of British reurmm munt is wholly conditioned by the renrnuunont or oihrr l’uwrrs and tinl‘niluro of the uuiions ti) tlg‘rrc upon stabilisation which is still earnestly sought by liritnlu. Effect on Income Tax. The political rorrrspomicni of the liaily .\i:\il says It is ussumrd Ilmi llir risr in the iurmureiux “ill now In) sumllrr Hum was unliripntrii. Numbers of Ilir llullso nl' (luminous who urr in Plum! Inurli \\'|lll ilir iim‘ornnlrut 9M prrss Ihr (lpiiliilil [lint it will not ex—reed llu'm-pvnre. ' ’l‘lu» polltlrul rorrrspondrui of tho linily 'l‘rlrurnph snys Iluoillrinl rsli—unites plnru lhn rxponditurc on (11~ i'rnrr in tho urxt Ilw yours nl “3100,, IiUtLUUU. "Lrt the rountrirs throughout thr' “oi-11l lil.ll'l( iIIr dotrriuiurd rl't'url “r nrr innkiilx.” said ihr I“li'\‘| LUI'I] at tho .\Illllil'.lil,\“ Sir fizuuurl Hump, 5” ‘l ‘.i..-rrh :zt Itii'uiingluun. "1401 llirlu . j

#fifl remember that when we put our hands to a great task we are willing to make great sacriiires. Though we might be slow in starting we have a remarkaihte way of eventually reaching the winning,r post. A great Empire that, is also weak is a menace to stability and a temptation to an aggressor." Liberal members of the iiouse of Commons are to meet. shortly to de—aide upon their altitude toward the defence programme. They express as—tonishment at the magnitude of the sum it is ropesed to expend. The Proposal Opposed. The, executive of the Parliamentary Labour Party met immediately after the Ghancel‘or‘s announcement. The unanimous opinion was expressed that. the plan should be opposed. Mr F. \V'. l’ethirk, of Lawrence, a member of the executive. who was Financial Sevretary to the Treasury in the last Lalmur Government. said after the meeting: “The plan will lead to boom conditions in which there will he a vast rake—off in the shape of windt‘ail profits. followed almost Certainly by depression, 01‘ which the workers will hear the, brunt in the shape of a re—duced standard at life.“ Reception on Continent. A message from Berlin says nfllcial circles therr ilnd nothing,' to aritiriso in the news of the liritisli det'rure loan. The nllleial spokesman said: “ “’1: take note that tiritain makes use of her rights as a matter at" course. \Ve shalt remember this when we are criticised." A telegram from Rome says the “astronomical" figure of the loan when comer-ted Into lira Is ukon In the Italian capital as final proof that Britain now Is at. the head of the armaments race. In Paris the news is welcomed but it is regretted that such expenditure I: noeessary. Britain and France would have preferred strung League ilisarnith nient. ARMAMENT SHARES. Itlfili ltl‘JtTOlililil). i‘nilea Pm“: Aun—Etm‘ Tel Fonyrlxn' (tierriw-d Fell. tit, 12,5“) p.m.i l,|tt\'litl.\‘ [:l'h, I‘3‘ 'l‘lu'~;;ilt~i-d:ul market upmied lower tilil Liit'l' rm‘mvrml. _ ,\i‘t||.tt||t‘li| shares are strnn: as the result oi the chancellor‘s statement