1937-11-03 — Page 5

THE CHINA MAIL, NOVEMBER 3 1987.

1987.0

REARMAMENT NOT YET AT PEAK OF EXPENDITURE: BRITISH SLUMP "TALK"

London, To-day.

Slump talk was deprecated by Government spokesmen during the debate on the Liberal Amendment to the Address in the Commons last night.

Major Gwylyn Lloyd George stressed the im- portance of freeing international trade, securing an Anglo-American commercial agreement, and preparing in advance for a recession in trade acti- vity the three leading points of the Amendment.

Replying for the Government, the President of the Board of Trade said that not only did the general statistics of the country's economic position fail to indicate any immi- nence of a slump but a more detail- ed analysis of the prospects of îndï- vidual industries also gave no such sign.

In most industries there was no check or abatement in activity ap parent. Iron and steel and engin- eering remained active at a high level. In trades such as motor pro- ---duction and many other industries,

goods were still going into sumption as rapidly as ever.

SLIGHT SETBACK

con-i

-MAHATMA-

GANDHI BETTER

Calcutta, To-day.

The Mahatma Gandhi is consi- derably better but needs rest and constant attendance.

His proposed visit to the Gov- ernor of Bengal has been post poned indefinitely-Reuter.

their part in any effort to reduce economic barriers. In saying that, It was, of course, true that there the Government was not prepared it was only fair to make plain that

were a few industries in which conditions were not so favourable put itself in the dock on the ques- tion of tariff policy. That was very as they appeared in the Spring, but

far from the case.

the interesting fact to note was It was agreed in the Joint that if you analysed those indus- tries and the reason for the slight Currency Declaration of last year setback they were experiencing, it and at the League recently that would be found that no common the real, and by far the most seri underlying factor existed such asjons, obstacles to international would point to some general eco-trade were not tariffs, which how- nomic depression.

ever high, could be surmounted, but currency restrictions and quotas. Great Britain had no cur- rency controls and no quotas on

REARMAMENT

.

TARIFFS TO CONTINUE

In warning the House against an the import of industrial goods. exaggeration of the effect of rear- mament upon industry, Mr. Oliver Stanley observed that in so far as rearmament had had an effect upon

Therefore though anxious to co- production, it should be remember operate in lowering the barriers ed that they had not yet reached there could be no question of the the peak of expenditure nor there

Government's abandoning the tariff fore the climax of whatever in- fluence it might have on industry.which the circumstances made in- system adopted five years ago, Regarding international trade, the Minister said that provided evitable, and which had been there was no worsening of the in amply justified. ternational situation, he saw

Mr. Stanley went on to say that reason to anticipate any serious re-he believed great benefit would

from a duction in the existing level of come

trading agree- world trade and if there was, as ment between Britain and the they all hoped, a substantial relax-United States. The Government ation in international tension, they intended to see that that agree- might look for a further and sharp ment, if made, would be fair to expansion in British exports.

WALL ST. POLITICS.

no

He believed that "slump talk" at the present time was due to falls on Wall Street which were very dif- ferent from those of 1929. This time they were largely political due to some extent to differences be tween Wall Street and the Ameri- can Administration which were no

both sides and would really lead to an increase of trade between the two countries. British Wireless.

HIGHER PAY FOR SOVIET WORKERS

Moscow, To-day

An increase of wages and salar- concern of others, and to some ex-ies has been decided upon by the fent to the fear, perhaps exaggerat Union Council of People's Commis-

QUEENS

SHOWING TO-DAY

He Fakes Failure To Find Happiness

What A Situation He Creates

Arliss

GEORGE

"A Successful Calamity

NEXT CHANGE

A 20th C. Fox

Picture

& SHOWS DAILY 2.30-5:20 7.20 49.30

with

Mary Astor

Evalyn Knapp

A Warner Bros. Picture

SHIRLEY TEMPLE

in Her Latest & Greatest Success.. “WEE WILLIE WINKEE

MAJESTIC

THEATRE

KOWLOON

MATINEES 20¿÷30< • EVENINGS 206-30-50-70

TO-DAY ONE DAY ONLY! •

A FIESTA OF FUN AND GLORIOUS MELODY

MARY FICEPORD JESSE L'

Nino Martin

THE

TomaacE

music

packed with citement, thrills

breath-taki

climaxes!

GAY DESPERADO

IDA LUPINO A LEO CARRILLO

TO-MORROW, FRIDAY, SATURDAY -

ROBERT MONTGOMERY WITH ROSALIND RUSS IN HIS MOST UNUSUAL AND THRILLING DRA

TRIUMPH

"NIGHT MUST FALL

MC-MS SENSATIONAL NE

QUEMOY ISLAND OCCUPATION

Canton, To-day.

Reports from Amoy state

ed, of international complications.sars, to date from November 1, for that most of the Japanese war

FREEING FOREIGN TRADE. all workers in factories, railways

for and shipping concerns whose

- He agreed that eign trade tr

ance any othe

could be

of the B.

ships have now left the vicinity

ser

DEATH OF WAR CORRESPONDENT

ent.

Hands was war

Quemoy Island, there remain- has been hitherto below

mg outside Amoy only one cru-for the "Daily Mail” certain lev

that the in-

the United States Japanese bluejackets are still Africa during the 50,000, on the island Our Own Corres- and with the

Oceanpondent.

Manchuria.

000 roubles a month.

well-known