1937-02-26 — Page 9

THE CHINA MAIL, FEBRUARY 26, 1937.

Page

CAUSTIC LABOUR CRITIC IN ARMAMENTS DEBATE

Mr. Chamberlain's Hope Of Plan Curtailment

LACK OF CLEAR

POLICY

ALLEGED

London, To-day.

interests of the taxpayers are ing adequately protected.”

tion of fresh and crushing taxation -was pushing financial orthodoxy to dangerous pedantry.

"

SOCIAL SERVICES. The Chancellor complained of ex

UNSOUND POLICY aggeration on the statement that

For Labour Party, Mr. Lees that the proposals would adversely Smith refused to be reassured by affect national credit and of a con- the Chancellor or Mr. Keynes. He fusion of mind regarding the effects contended the Government's bor on the one hand of vast arma-rowing powers should be reserved ments expenditure and on other of for time when armaments ex- borrowing to meet part of it. The penditure fell off and a slump built up during last six years. The oncoming depression. The contrary

“Even now, although prospects might seem dis-pational credit had been steadily threatened in order to arrest an couraging, I do not altogether despair of presently finding some new field in which we may avoid the necessity of pursuing rearmament fully to the bit ter end."

IT WAS WITH THESE WORDS THAT THE CHANCELLOR OF THE EXCHEQUER, MR. NEVILLE CHAMBERLAIN, OPEN- ED THE SECOND READING OF THE DEFENCE LOANS BILL IN THE HOUSE OF COMMONS YESTERDAY.

tional obligations.

FINANCIAL POSITION.

Unemployment insurance Fund had policy, by which armaments expen been put in solvent condition and diture and borrowing were to cease distribution took place, would phic slump

CANADIAN PACIFIC

reserves ace anlated which, if no simultaneously, invited a catastro

reach by end of present year a sum Mr. Lees Smith suggested the ap-

£52,000,000 of between

and pointment of Civil Planning Com- £60,000,000.

mittee to work along parallel lines In the last Budget of the Labour with the Committee of Imperial Government, when unemployment Defence, on aspects of the defence was high, the provision for the problem which, he asserted, were In the meantime, Mr. Chara-declared, if any apprehension of social service was 45,000,000. In cbviously being neglected. Sir Ro- berlain continued, the country imminent war were created at time the current year, when employment bert Horne, speaking: later in the could not afford to stay its hand when there was no reason or justi-had enormously improved, the pro-debate, expressed the opinion that

vision was £68,000,000

the country could take £400,000,000 until it was satisfied that we fication for any such fears.

Citing the motion's invitation to Finally, the Chancellor declared of borrowing in a stride. had provided for the safety of the country and put ourselves in the House to view with misgiving that the Labour Party's suggestion The House of Commous passed a position to fulfil our interna-the massing of huge competitive that the whole of defence expen-the second reading of the Defence

national armaments, the Chancellor diture should be met out of current Loans Bill by 307 vote

horror of Own

revenue necessitating the imposi- British Wireless. Nothing that human ingenuity reiterated his could devise to prevent excessive Europe's rearmament and unpro- prices in the cost of rearmament ductive expenditure in which it in-

volved nations. had been left undone.

Mr. Chamberlain twitted the La- Dealing with the financial posi-bour Party on its repeated affecta- tion the Chancellor said that while tion of the ignorance of the rela- the national debt in the United tion which the Government's re- States had increased in the last six armament programme bore to their years by over £2,000,000,000, an foreign policy.

The relation has been described nual debt charges in Britain had been reduced from £282,500,000 in 1931, and defined with the utmost clear- to $210,500,000 in the present year, ness by the Foreign Secretary but opposition members continue to while the country had provided a constantly increasing sum for social ignore his statements. I must, therefore, ask the House to bear services.

with me while I once more repeat the Foreign Secretary's words.”

LEAMINGTON DECLARATION The Chancellor then read Mr. Eden's well known declaration at The sum of $400,000,000 to be Leamington on November 20, com- raised by the Loan represented only mencing: "These arms will ne a fraction of the country's savings be used in war of aggression and Mr. H. B. Lees-Smith (Labour, will never be used for a purpose with the League Keighley); moving the Opposition inconsistent resolution expressing misgiving at Covenant or the Fact of Paris." He the huge competitive national ar- challenged Labour speakers to say mament without any constructive whether they considered that Bri- foreign policy, declared that the tish arms should not be used for Minister for Co-ordination of De any of the purposes described by fence, Sir Thomas Inskip, was not the Foreign Secretary or whether they considered they should be solving any problems.

used for any purpose in addition. A SHOCK-ABSORBER He

was merely a shock absorber Not until they ceased evading such keeping the ring between the defence straightforward questions and gave departments, which were getting all a plain answer was he called upon the prize money out of the unlitait seriously to deal with such obscure- ed resources of borrowing-

ly mammated criticisms,

NATIONAL CREDIT. Herr Hitler was always pushing

Mr. Chamberlain then turned to to see where he could obtain advant- ages and other nations were giving charges that the Bill's proposals would weaken the national credit

As long as borrowing did not ex- ceed general savings, there was no inflation.

ONLY A FRACTION

never

Hitherto we had always given depress the standard of living and

CRIMINAL DANGER He believed they were misleading everyone and unconsciously luri them on.

contained no effective provision prevent profiteering. He said tha no matter in the whole of the blems connected with the rearma

programme had

He did not believe tat ritain continuous or

would give way for ever out

it was almost a criminal da

to let Herr Hitler know

nation would not star

KIT CHAMBERLA ME Nevile:

tion than

ve prices.

of

"I have no hesitation in saying.

that nothing human in

devise or human effort can

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