BRITISH & FOREIGN NEWS

Hokitika Guardian, 1 August 1925, Page 3

BRITISH & FOREIGN NEWS

[“Tn*! Times” Service.] DAMAGE TO BRITISH TRADE. LONDON, July 31. Tho opening dispute has induced an influential section of tlie press to attack increasingly the decision to restore the gold standard as being an important contributory cause of the depression in the coal and other exporting trades. The Federation of British industries to-night issued a forecast for the third quarter of tho year, slating that no alleviation of the present depression could lie expected till a fresh upward movement in prices begins in the autumn. ft adds:—The cost of exports are now ten per cent dearer to foreigners than before. The last appreciation of tiie British exchange did not precipitate the return to the gold standard. Euless the. Bank of '.England abrogates its policy of credit rest: t.iun things must become worse in the coming quarter. Professor Keynes lm.s issued a pamplet which is attracting widespread attention. He contends that the genera) wage reduction movement which is aiming at a lessening of the production costs, is the inevitable consequence of the gold standard. FRENCH RAIL SMASH. PARIS. July 30. Eighteen were killed and twenty injured in the terrible railway accident near Tours. The express, coming from Rouen, was travelling at sixty miles an hour, instead of the scheduled thirty. 'When derailed it ploughed along the line for one hundred yards, then plunged into a deep ravine twenty feet deep. The dead and injured were buried under the debris, and it took many hours to extricate them. AMOV GENERAL STRIKE. HONG KONG. July 31. The Chinese Secretary of the .Municipal Council at Amoy has been shot with a revolver four times in the body, being seriously wounded. A general strike is believed to be inevitable. There the boycott is most stringent. One of His .Majesty’s gunboats is proceeding to Amoy. SWIMMING RECOIID. NEW YORK, -Inly 30. Waller Lanier, of (. iiieinatti. set a world’s record for tho two hundred yards hack-stroke swimming in the National Championships. Lanier's mark is two minutes fifty seconds. There was no rerul'd listed previously. JAPANESE CABINET RESIGN. TOKIO. July .31. Following on a difference ’ la-tween the K'-nseikai and Soiyukai factions, owing to tax proposals, the Cabinet has resigned.