BRITAIN'S FOOD SUPPLIES

Dominion, Volume 7, Issue 2222, 7 August 1914, Page 5

BRITAIN'S FOOD SUPPLIES

THE WAR AND TRADE SHIPPING RISKS GUARANTEED London, August 5. k i. Speaking 'in the House of Commons, Mr. Lloyd-George, Chancellor of the Exchequer, stated that ho was considering tho matter of food' supply. He would submit'a'scheme.in a, few days. . ,';' .■'.■'. ,A proclamation prohibits the exportation of articles useful- for naval and military purposes. '.'■' -. The Government announces that it will guarantee war risks on wheat and flour shipped at Atlantic Canadian ports under existing" contracts. A list of such shipments must be supplied within forty-.-■ oight hours. The-premiums paid by tho importer will bo charged against' 'the' eventual receiverIt is understood that' this step is taken to secure sixty-four million bushels of Canadian wheat. In response to a request from the London Corn Trade Association the Government guarantees war risk on wheat and flour shipped and to be shipped from Ar--laiitio and Canadian ports to Great Britain under existing contraots.—"Times" and Sydney "Sun" Services. A,White, Paper has been issued containing tho report of a sub-committee on Imperial Defence. Dealing with the insurance of shipping during war time, the coriimittee' recommends' that v the Stato ; should reinsure 80 per oent. 'of all risks. GOLD FOR BRITAIN. AMERICAN BANKERS' SUGGESTION. New York, August 5. Bankers suggest that twenty millions' worth of gold should be deposited in London to facilitate trade between .Great Britain and-America. . The . Savings Banks announco that sixty days' notice is required before withdrawals, can be made.—'{Times" and Sydney "Sun" Services. DAIRY PRODUCE PRICES. :/ CONTINENTAL SUPPLIES CEASING. (Rec'. August G,'10.25 p.m.). "..'■' • '..-.... London,' August 6. The Home and Foreign Produce Exchange is fixing prices every two days. All butter rules at 1365. to 1405., except Danish, which is 1445. All Continental supplies are expected to cease at tho cud of the week. Mr. Rnnciinan, President of tlie'r Board of Agriculture,' assured'farmers there was no reason to slaughter young stock. There is an improved feeling' in the city in view, of the prospective issue of small notes. NEW ZEALANDTRADE,' * ■.. HIGH COMMISSIONER ACTIVE. J ;, "",(Rec. August fi/lOUo] p.m.) "' ..■■•.■••''.. r London, August 5. The Hon, T.' Mackenzie,'.' High' Com* misisoner for New Zealand,, is ing the . British Government to include in the war-•■; risks 'vessels already oh the way to '.the- United • Kingdom, as there are many ships with New Zealand frozen meat, sheltering in ' various ports. ■ The measure only applies •, fco vessels sailing after'the outbreak of War. . SITUATION IMPROVING.,: ' BANKING RETURNING TO NORMAL. ■ (Rec. August 6, 10.55 p.m.) .;'■■ London, August 5. ~ Mr. Lloyd George, Chancellor of the Exchequer) speaking in the House of Com-' mons, 'said tho issue of small notes was purely temporary. There was no' failure of credit, but it was desirable to economise tho gold supply. All notes woiird bo convertible into gold Kt the Bank cf England. The general moratorium-for a- ' month was authorised in order'to .leave an ample margin to enablo trade to adopt itself to-the present conditions. •. .Bankers consider, themselves in a'posi-. tion to resume normal business,"and are arranging to furnish money for salaries, 'cargoes, and necessaries. ' The Government is coining additional silver, and it ivas hoped to Teduce the bank rate to six per cent. ' ARGENTINE BANKS CLOSE. ", London,: August 5. A report from Ar'geiitine states that the banks and the Bourse have been , closed. BANKING NORMAL IN SYDNEY. . Sydney, August 6.. Pressure on the Government Savings Bank has practically disappeared; Banking business/generally is about normal; ' \ ' -.., ■■.'." .• ISSUE 'OF NOTES IN ENGLAND; : London, August's. The Government will be issuing thre» millions sterling in/JBl and 10s. notes on. Friday, arid afterwards fire millions daily. : 'SYDNEY-STOCK EXCHANGE. : ' August 6. The Sydney Stock Exchange is closed • till Monday next. . -.',••' WHEAT MARKET STAGNANT. '' (Rec. August 7, 0.20 aim.) Sydney, August 6. Tho wheat market is stagnant, and buyers are holding off anticipating a fur< thcr docline.' UNEMPLOYED IN THE PORTS. ! ; (Rec. August G, 10.40 p.m.) " , i . London, August 5.A ■ ..It is .estimated that a quarter of a i milliou'of'port workers are already'idle. DARDANELLES CLOSED TURKEY AND HER NEUTRALITY. ' By Telenraph-Presa Association-Copyright '- ' ■'_. (Rec. August G, 8.45 p.m.) : Constantinople, August 5. Turkey has closed the Bosphorus and i Dardanelles to preserve her. neutrality. Till 1774, when Russia compelled Turkey i to open the Black Sea, and the Straits leading to it from the Mediterranean to mer-' : chant vessels, it had been the practice of-the Porte, which did not consider it- . self bound by the. public law of Europe, to forbid the passage of thb Dardanelles and the Bosphorus to ships of other Powers. After 1774 ships of war' were still excluded; and in ISO 1) Great Britain recognised this practico ns "the ancient rule of tho Ottoman Empire. She was followed in 1840 by Austria, Russia, and Prussia, who were parties with, her to the Quadruple Treat}' of London. The first 'subsidiary convention attached to the Treaty of • Paris,' 185G, revised the rule so as to allow the-passage of lightcruisers employed in the.servioo of the foreign Embassies at Constantinople and of a few small vessels of war t'o guard the international works at tho mouth Of. the Danube. A further modification-was introduced by; tho'..Treaty of: London of. 1871, which retained-tho previous rules; but resorved power to the Sultan to open • the Straits'in time of peace-to, the war vessels of friendly Powers, if ■ he should deem it necessary in order to secure the observance of the Treaty of Paris. These last two treaties have been signed by all tho Great Powers, and are universally accepted as part of. tho public order of Europe. Towards the close of the Russo-Turkish'' War in 1878, when General gkobeloft threatened to march on Constantinople,", tho British Government sent a fleet.to the Bosphorus lo ; prevent the Russian advance. Ohthat Occasion. Admiral Hornby, who was in command'of the squadron, technically forced the passage of the Dardanelles.' The vessels took the Straits cleared for action, tho flagship leading. The Turks fired a shot or two, by way ' of ft technical protest. General Skobeloff did not march on, Constantinople. OUTBURST OP PATRIOTISM. SOUTH AFRICA UNITED. -A". By Telegraph—Preus SBBooiation-Copyright (Kec. August G, 11,25 p.m.); ■"'■ ' . . Cape Town, August 5. There is a great outburst of patriotism and a general determination to Bink party differenoss and oc-inerate for. idJLienoD, ..■■■,«•■