1948-02-14 — Page 7

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THE CHINA MAIL, SATURDAY, FEBRUARY 14, 1948.

CRIPPS WAR ON INFLATION Employers Asked To Produce A Plan To Reduce Both Prices What

And Profits

London, Feb. 12.

Employers have been asked to work out a plan to decrease prices and profits, Sir Stafford Cripps, the Chancellor of the Exchequer, told the House of Commons. tonight.

Sir Stafford, who was speaking in a one-day debate on wage policy, said he had asked employers to let him have their proposals within a month.

The employers main organisation-the Federation of British Industries—had already given its answer and "will do their utmost to assist in that way."

** W

to see n voluntary it with the "nearing gap" in Dei- iling n all prices of goods rain's balance of payments referred which do not come within price to on Tuesday by Sir Stafford Cripps. "E do not understand how it i control." Sir Stafford declared.

possible for members of the **Excess

the cabinet profits upset

to make such completely whole erancic system and routrasdictory statements," he conr

mented.

reate false values."

Rate

Leading for the Government The Opposition, be declared, whole- in the debute, Sir Stafford went heartedly subscribed to the principle C: "We cannot disregard the the there must be an equal distribu- accumulation and distribution ion of the burden to check of large profits at a time when tion.

all sortions

to

of thos community are being asked

exercise restraint to their personal

AM inemes.

creats false

The Last Resort

itilla

way

Lifeboat's

Great Effort

Selsey, Sussex, Feb. 12. A lifeboat spent nearly seven hours in high winds and heavy rain early today searching for a motor-boat which had broken down off Bognor.

After using a powerful searchlight the Ilfeboat picked up the bont. con- inining three men. The men in the motor-boat had Burned their clothes trying to attract attention.

The lifeboat towed, them to Littlehampton Harbour. ~~Reuter.

Premier

Restates

Position

London. Feb. 12.

But whatever steps might be neces sary in respect of distributed pro- fits, he hoped nothing would be done. "Reasonable profits are 1 discourage the ploughing bark of fair reward, but excess pro- fits upset the whole economie profits inte imtuary. That was in- dispensable to Britain's long-term system and

survival as an industrial nation. vaturs.

"If this measure of restraint In the last resort, the only or sacrifier can be

shown byger am of the present position was hy increased autpat. It was therefore those who draw thele income essential that the Government's "very from profits, then there is n

proper desire to combat ination The Prime Minister, Mr. Cle- good chance of persuning wage did not revit in any action which

mezit Attlee, in the House of and salary earners also to exer- might kill initiative. eise restraint in the use of pres- For that reason, le serged that sure which the scarcity of la-workers should have further income four enables them to apply." refiel, paid far by decreased govern-

This Chancellor of the Exehemental expenditur,

Taking a long-term view, there por atimouneed that the Gov-was no rause whatever for despair, ernment proposes an immediate Mr. Eden declared, reiling at the level ruling last. December and last month on manufacturers' prices uf greds which come within the jurkce control system but have not already got a close prive control.

"Grave Congern"

After referring to the great arces in the British Commonwealth and Rampire and the key position sufliciently grography, had given Britsio

Western Europe, Mr. Eden declar Ted: "Cap anyone say, with all those

opportunities, that there is no

na hupe Tot

the future? handle our business in the right way. "Of course there is, but only if we

is lo

redtter

The Objective "Our objective prices wherever possible and so to reduce proßts," Sir Stafford declared.

em

|

The Plan Means

London, Feb. 12. Sir Stafford. Cripps's jannouncement on. pro- fits means that a rigor- ous price control will be enforced on everything that the British people buy in shops, except newspapers, books and jewellery,

It is Indicated authoritatively that the Government has no in- tention of "freezing“ priees au present levels. A more rigor. ous control system will prob. ably bring some prices down

atistantially.

The Government is determin- el that the permitted maximum price should not be regarded as the minimum, us haa so often proved to be the case.

No steps are nabounced ta | prevent possible increases in the

price of staple fools, most of{ which are heavily subsidised by the Government,

Such increases could Ise averted only by incrensing the anone of the subsidies---which now total $400,000,000—or by buying cheaper.

A falling international price market in food encourages the hope that food price rises may

Commons Wakes debate tu- be Bearing an end and that a night, reaffirmed the Govern-drop may shortly folarw. ment's bellef in collective bar- One eriticism in the past was gaining In answer to critics that the control of essentials. who had asked why the Cabl-encouraged tho, production of act had not worked out a wages less essential articles because structure.

they could yield the manufac "But that docs mean turer a bigger profit. there should be nu attempt to in.| The new proposals will dis- fluence the people of this courage this practice. country in their attitude to thei wage questions, That is exactly what we have denean appeal has been made to both sides of industry".

The main purpose of the new measures is to ensure that the publie is not provoked by exces- sive profils into wholesale de mails for wage increRBES.-*** Reuter.

Prices

Slip Back

"We should get people work. inir together both sides on

hold industryanst

fast in "If the Government feel themselves

these particularly difficult equal to the task of Governmem, Sir Stafford said that in their is my duty to tell them there are times", the Prime Minister muld, face of overriding national diffi- others who feel they can discharge collies, the Government

"Britain has great assets and thac task with better heart and the musi

great future. I do not think ask that negotiations for wage sincere conviction at unfer their increases shall either be put eadership, the notion could ride the

gathering storm." r else endurted in the Hght m of the principle it had Mr. Eden then moved as Opposi

laldton amendment expressing "grave down.

estivern over the present, state of the "We

dealing with

thenation"'

and wefrorning uny next year And

are

off

迎你

any barly does any good by ing around in this country-und

Washington, Feb. 12.

Breaka in the stocks and

still more abroad (a reference commetty market in the United

back

to certain Conservatives)—cry, where they were when the Mar

Sintes have put prices welling stinking fish', because I

not with chosen measures designed in deck am que certain that we shall shall Plan estimates were first eternity," he declared. "We are inflation and in restore the country's come through ol pur difficultade, the State Department said not suggesting that there shal prosperity."—Reuter;

never be wage and salary in- creases in the future. But un

til we are cut of our difficulty,

we should all hold.our hands in this matter of personal income and be prepared to await a time; when the urgent needs of our nation are not so overwhelmingly pressing as they undoubtedly are today."

ties."--Reuter

Labour Still To Boycott Churchill

Stressing the effect on ex- ports of rising wages and prices. Slr Stafford said: "IF our prices frighten off for- eign buyers, we shall be un- able to buy food and the raw Mr. materials necessary, and we shall suffer unemployment.”

Not Out Of Hand

More production and lower costs were the prime safeguards against these possibilities.

There were three ways in which the tendency to inflailun could be arrested, The first was by the volun.

London, Feb. 12.

The Executive of the Labour Party has reaffirmed its ban on attendance by party members at the "Congress of Europe" at The Hague in May. Winston Churchill, leader of the Conservative Opposition and head of the "United Europe" organisation in Britain (one of four bodies which called the Congress), today published a letter from the War Minister, Mr. Emmanuel Shinwell, Chairman of the Labour Executive, stating that "the proposed composition of the Congress seems to us open to objection. Labour had decided over a trusted to unrepresentative in-

lazy camin

caminonsense and self-restraint year ago hot to support the terests.

today.

With prices thus readjusted by depreciation, the proposed expenditure of $6,800 million will again buy as much 1 it was intended that they should when the plan was laid down last October, the State Depart ment added.

This claim was the signal for the anti-Marshall Plan forces in Congress to call anew for euta in the American contribu tion. The group of so-called legislators "revisionists" - 20

who have banded together to eut and amend the European recovery programme-insisted that "the commodity decline means that the State Depart- ment should now, of its own ae- curd, revine, ils figures down. ! wards."Reuter.

Russians Fortifying

the Con Port Arthur?

Emanufacturers, distributues and | "United Europe" movement--- The number of private in- workers. The second was by direct Mr. Churchill's prominence individuals selected by An In- Governmental action and the third at being an importnot factor. known procesa roba

It leaned a ban on attendance gress of any real representative The other points Sir Stafford made were that controls and subsidies had at The Hague at the beginning character.

combination of the other two,

Such 4 Congress

Shanghal, Feb, 13

The Chinese newspaper. aved Britain from an uncontrolled of February, after the Foreign can scarcely hope to make any "Shun Pro," in a Mukden dis- Inflation.

Secretary, Mr. Ernest Bevin, had practical contribution to Euro patch claimed today that it wor "The situation is not yet out of made his appeal for "Western pean unity, and may, on the con- reliably learned that the Soviet hand," he declared.

unity."

trary; discredit the Iden"Union is massing more than 100,- A clear danger was the continued] In a letter to the Prime Router. rise in personal incomes without Minister, Clement Atlee, Mr. any more goods being available on Churchill urged that the cause of European unity "should be kept above the level of our politica" and domestle party we must greatly, increase ex-

the markets.

"If we are to achieve even with Marshall aid the balance of

pay-

ments,

parts.

INFLATION STILL "considerably strengthened" with

"If we cannot increase thein asked that it be made clear that A THREAT

sufficiently, we shall then be driven members of the Labour Party

to reduce our imports still further." might attend.

Washington, Feb. 12.

Therefore no more goods could be Mr. Churchill pointed out President Truman insistev). to. made available for the home market, that prominent Socialist leaders day that inflation was still a

to in other countries had accepted major. economic threat the Tory Approach-

Invitations to go to The Hague. United States despite the lower-

000 troops in, the Dairen-Por! Arthur area where former Jap- finese fortifications have been

six-foot reinforced concrete walls while Jining lengthy trenches,

of B one-sixth pillbexts every mile have been built on tonst-United Press

Siamese Raid

Mr. Anthony Eden, deputy leader Mr. Attlee replied that it washing of prices in the last few Into Burma

Churchill Visit

tho

of the Opposition, who had opened in matter for the Labour Party days as a result of commodity the debate, said that If the Chancel Executive.

and stock market depreciaglons.|.

Harigoon, Feb. 12 lor of the Exchequer · intended... to-

The President told newsmen |

Siamese bandits, crossing the face the real fact, he had the Op

́that. It was still too early to tell frontler into Burma, looted the position's support.

Mr. Churchill then visited what the effects of the recent Government Treasury and Arms Mr. Eden then accused the Gor the Executive Chairman, Mr. price drops would be.

Dopot at a small town 120 miles ernment of making en "alternating Shinwell. This resulted In a He said the latest develop from the fishing port of Mergul succession of warninge and, optimistle reaffirmation of the bah after a monts did nhất; in any way, on tho South Eastern Burma forecasts.

affect the urgent need for Con-coust, the nowspaper “Progress". Recalling Christmas time speech discussion "at some length"

In his Ielter to. Mr Churchilf (gressional approval, of his, ahti- reported on: Thursday. by the Deputy Prime Minister, Mr. Herbert Morrison, in which he said Mr Shinwell, declared: "The inflation programme, which calls The paper, said the that Britain was "rounding the re-, subjeät!" of Edrópeátí ↑ úñfry is for price and wage controls and were armed with American-made

machine-guns Asselälud covery corner)" Mry files (comigured much too important, to be en rationing, powers-Reuter,

'Press

bandits