NO NATIONAL LOAN
STATEMENT BY SNOWDEN
FINANCE IN ORDINARY WAY
(Received 7th February, S a~m.) LONDON, sth February. In the House of Commons Mr. W. Churchill asked the Chancellor of the Exchequer, Mr. P. Snowden, whether there was any justification for the rumours that the Chancellor was contemplating a very considerable development loan, as the rumours had "resulted, in a considerable depreciation of giltedged securities. Ho' personally believed that Mr. Snowdcn had repulsed all inroads on his financial impeccability. Mr. Snowden thanked Mr.- Churchill for giving him an opportunity to deny a rumour which had resulted in a fairly considerable fall in most Government securities. "My financial orthodoxy," he said, "is still in a stato of virginity. The Government is prepared to foster every sound economic scheme for national development, but it would be financed in the ordinary way: There is no idea of a spectacular national, loan."
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Bibliographic details
Evening Post, Volume CXI, Issue 32, 7 February 1931, Page 13
Word Count
148NO NATIONAL LOAN Evening Post, Volume CXI, Issue 32, 7 February 1931, Page 13
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