1935-02-23 — Page 29

THE

HONGKONG

TELEGRAPH.

SATURDAY, FEBRÚARY 23, 1935.

OIL FIRED

CENTRAL HEATING DOMESTIC HOT

WATER & COOKING INSTALLATIONS

BY

DODWELL & CO., LTD.

HONG KONG CLUB

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REPULSE BAY HOTEL

MR. BALDWIN DEFENDS GOVERNMENT

BANKS MUST NOT BE NATIONALISED

London, Feb. 22:

A cold 'douche was poured on political acaremongers to-day by the Lord President of the Council, Mr. Stanley Baldwin, when he ad- dressed a mass meeting at Cholson.

Mr. Baldwin declared: "The Government is not breaking up. There is not going to be a general Ielection for a long time yet."

ho

to inst week's rumours, "Those statements were all begotten by Imagination out of hysteria a most dangerous pro- duct. We have get a great deal of work to do yet, so we will get on with the business."

Turning to the Labour Party's programme to nationalise the bank- Manual Controlled ing system, Mr. Baldwin said: "If there was ona element in the country which helped us through the crisis of 1931, It was the Manual Controlled stability of the banking system

which

was built on sound founda- tions, and because every banker in the country regarded himself is trustee for the depositors."

Manual Controlled

It was quite impossibic, under the present system, for that money to be used for political ends, he said, but he had read that the Manual Controlled Labourlies advocated placing thor

ough Socialists in control of the banking system.

These were theories which had Manual Controlled never worked anywhere, put over on the working man by so-called intellectuals who had never managed even a whelkstall, and who would never enter Parlament except on the backs of the trades unions.

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Manager: A. W. Salter, M.R. San, I., M.I.H.V.E,

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If that kind of polley was carri ed on by a sufflelent majority, the whole banking system would be paralysed within six months, he said. The Government must close Its ranks and fight that policy.

Referring to the continuance of the national government, as against return to party politics, Mr. Baldwin said there were pecullari- ties about London politically. Lon- don knew very little about England outside London. London, political- ly. was unfortunately too big. It had a population that changed from election to election, n position almost unparalleled elsewhere.

The kind of Toryiam that might win Chelsen might easily lose every seat north of Trent. The old party lines between the Liberals and Con- srvatives were gone.

"We have now got to fight be tween the maintenance of our in- stitutions and the kind of thing I have spoken of, I believe a na- tlonal government in essential," he

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SHAMECN

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