GENERAL CABLES

Hokitika Guardian, 28 May 1931, Page 5

GENERAL CABLES

LOAN CONVERSION PLAN.

AX ENGLISH PRESS VIEW

(United Pr©Bß Association—By Electrio Telegraph.—Copyright.)

LONDON, May 27

The “Morning Post's ’ iinanc al editor says: “At long last the Government of Australia has been In ought up against the main issues arising out ot the prolonged exchange crisis by the apparently drastic mu. n.in !.- tions of the economic committee, but it is still not clear whether the conversion of the loans will be a voluntary conversion or a compulsory one. It may be hoped that the tie i convcrs on scheme is voluntary, 'if the city regards the plan in its entirety as promising to rehabilitate Australian credit the effect will lie reflected .in the prices of securities, and will favourably affect the funding proposals.' 1 SOVIET PROPOSALS. (Received this dnv nf 1.5 n.m.l LONDON, May 27. The “Times” Riga correspondent says the Soviet State planning commission has decided on immediate preparations for tt new five year plan, KUlbysheyff, who is the Commission’s chairman., said the previous method of entrusting plans to a few hundred specialists must bo abandoned, The working masses must henceforth plnv a dominant part in the Soviet. Planning by non-speciaiists wag impracticable, but such scepticism must be resolutely discarded. Every factory worker would be given an opportunity to demonstrate his planning ability.

BID TIoIl IMA 11GR .AT IO X

LONDON, May 27

Britain’s population problems are aggravated by the fact that she has become the Empire's immigration headquarters. Returns for the first quarter of 1931 show 2671 British migrants came to England from Australia and 2301 British passengers went to Australia, while 3800 came to England. A total of 3263 British migrants went to Canada and 2660 returned to Britain; went to New Zealand and 534 returned to Britain.