BRITISH & FOREIGN ITEMS.

Hokitika Guardian, 16 January 1924, Page 2

BRITISH & FOREIGN ITEMS.

tUSTRALIAN AND N.Z. CABLE ASSOCIATION. V * LONDON. Jan. 14. Obituary—Sir Richard Muir. FLAYING FOR TIME. LONDON, Jan. 14. The General Council of the Trades’ Unions Congress has intervened in the railway dispute, and lias appointed a Committee to meet the railway managers and loco men's executive, with the object of ending the deadlock, or at least postponing the operation of the award and the commencement of strikes, pending negotiations.

FATEFUL DECISION’ ON MONDAY LONDON. Jan. ML

In a ballot the Yorkshire and Northumberland miners overwhelmingly favours the termination of the national wages agreement. The result of the ballot throughout i lie country will Tie announced on Thursday, and it is expected "ill be similar. The threat of a milling trouble, and the possibility of a railway strike is disquieting to Laltour quarters, but it has not altered the decision of the Labour leaders to take office a« soon as possible. Nor has it caused the Liberal leaders to reconsider their determination to assist to defeat the. Government. It is now anticipated that the fateful decision will he made on Monday.

GERMANY’S CAPITAL. LONDON, Jan. 14. The “Daily News” published startling extrac ts from a hook dealing with the question of the flight of German capital abroad, written by two well known Swiss exports, M. Wulsfsnn and M. Wernio. They declare that in organising the* fraudulent flight of German capital. the businessmen and manufacturers, displayed the same practical methodical spirit which was applied before tile war to the development of German industry and commerce. A new construction of German capital has been proceeding for live years, not within Germany, but in. certain foreign countries. The actual smuggling of money and valuables out of Germany lias been relatively small, though large sums, including private fortunes have crossed the frontier. Tt was under the cover of foreign trade that the real flight of capital was organised. A Get matt firm would hand over its export sales to a firm in a neutral country, acting as a go-between. The goods were invoiced far Ivelow their real value. When sold at their full value, only fictitious fig-

ures were returned to Germany, which the German firm was compelled to hand over, ill foreign money, to the Reielisbank. in exchange for (paper marks. The difference between the real and fictitious value remained abroad Thousands of firms adopted this plan. Another method was to take advantage of tho Government s permission to send money abroad to pay just debts. 1* ictitious debts were created, and huge sums left in Germany for the settlement, of such alleged debts.

Th authors of this look declare that the German capital is an unstable tact,,r in the countries wherein it has taken refuge. It may become a considerable political danger. The German industrial magnates are seeking, * by the indirect channel of neutral in- 4termediaries to regain their power in Alsace, in Poland, and in Bohemia, which they lost under the Treaty of Versailles. MR MacDOXALD’S DIFFICULTIES* LONDON. Jan 14. ... Reports state that Mr Ramsay Donald is experiencing difficulty in satisfactorily forming a Cabinet owing to the lack of experienced administrators and the possibility of Hie appointments being made outside tho labourites. including that of Viscount Grey and Lord Parmoor, are causing discontent among the Extremists. .Mr Arthur Henderson, on behalf of the Trades Union Congress Labour Executive, has issued au appeal for assistance from the German 1 fades Unions. He pointed out tha fall m . the mark has rendered German contributions useless and asserts that tierman employers are attacking the forty-eight hours week. If successful this' will have n reactionary effect in Britain.