LIMITATION OF EXPENDITURE

Dominion, Volume 13, Issue 114, 7 February 1920, Page 7

LIMITATION OF EXPENDITURE

RESTORATION OF INDUSTRIAL 1 LIFE. ' " " (Rec. February G, 7.15 p.m.) ' New York, february 5. Tl'.o London correspondent of the JNew York "Sun" interviewed Mr. Reginald il'Kenna, who said: "America is right in refusing to lend money to Governments which have not put their own house in order. England will prove sho is willing to do her share :n restoring industrial life where it has collapsed' in Europe." Continuing, Mr, M'lvcnna .said: lam strongly in accord with the statement of Mr.' Carter Glass, Secretary to the United States Treasury, tliat.it is the imperative duty .of the Governments of the world to limit their e.xjwndituro to their inpome. ..from . taxation, There would not he an adverse British balance of trade if Fjiigland were not eoUiiij "Oods on credit in order to help to restore Europe. Britain's output is very good. Tho Labour situation in Britain is less threatening than in any of tho leading countries of the world. There is no. ground for fear of any decline in Bribiin'i) mercantile marine power. Competition in trade boUoen England and (lie United States exists, bwt.it f only friendly competition. -Aus.-NA Cable Assn. canadaloTcerned (Rec. February (I, 11.43 p.m.) Ottawa, February 5. Tlie Minister of Finance conferred with leadimr bankers on the exchange situation. The oninion was expressed that. Government action-could-notJessen the unprece<lentedly heavy discount on_ Canadian money, since the causes were inter-iiational.-Aus.-N.Z..-Cablo Assn ;/ . INTERNATIONAL ACTION (Roc. February G, 11.45 p.m.) Washington, February 5. Senator Thomas, declaring that the exchange situation was seriously threatening America's export trade,, introdnoed a resolution in the Senate to-create a monetary- commission to confer with similar commissions from, other nations, in an attempt to stabilise the moneys of tho world.-Aus.-N:Z, .Cable Assn. : PRICE OF GOLD INCREASING , (Rec, February 0, 9.10 p.m.) Lo'idon February 5. The price of gold, which yesterday wag .£6 ss. 9d. per ounce, has risen to £H <s.id. South Africa,' Sotth Amjm, « India are buying gold.-Aus-N.Z. Cable iBS "- ______ ——