BRITISH CRISIS

Hokitika Guardian, 27 August 1931, Page 5

BRITISH CRISIS

MR MACDONALD'S BROADCAST. (United Prsee AeiociaUon— By Electric l'elegr*ph—OopyngriM. LONDON, August 25. Mr Ramsay MacDonald, m the broadcast speech, said: — There has been a good deal of damaging propaganda, and toreigneis, not knowing our financial strength, have listened to ghost stories, and they became nervous. It is quite untrue that foreigners have deliberately tried to harm us. They were ready to help us again, but they wanted assuring about our position. It is useless to say that they ought not to have been anxious. They were. It is essential that world confidence in our credit should be restored.

He, said the collapse of the pound would have been fatal, since Britain, above all others, depended on hex* credit to buy food. The pound sterling is also the greatest medium of commerce; and trade. A large part of the world rested its confidence in sterling. If this were destroyed everyone, particularly workers, would suffer.

Tilings were happening in international finance, said Mr MacDonald, which were speedily leading towards a crisis, and swift; decisive action was demanded, which the new Government proposed to give. He said that there was no disagree* Snent in the Labour Cabnet that fairly drastic economes were- necessary. What troubled his former associates most was the cutting down of the unemployment benefits. The Government 1 , he said, could not appeal to everyone to lielp land exclude those who were costing the State one hundred millions per year.

Mr MacDonald emphatically denied that there was any bankers ramp, or any conspiracy against the Labour Government. The Bank o, England throughout had not shown the least bias.

The crisis, he said, was purely a financial one. Only - things which would put British credit in. a position of security was a, scheme of economies.* The new Government was a Government of individuals formed to do a particular work. Those who liad taken risks would receive either punishment or reward at the election which would follow, • In the meantimehe appealed to everyone, rich and poor, employed and unemployed, to tface' the difficultes as the country had always done with heart and determination to overcome them. MR BALDWIN’S STATEMENT. In a statement issued to-night, Mr Baldwin says: The National Government has, been allotted a definite task, arid on its. completion it is understood that Parliament will be dissolved as soon as circumstances permit, and each of the parties wjll be left free to place its policy before the electors for up* proval. By this moans, 1 no party will bo called upon to sacrifice any of the principles in which it believes, but the gravity of the crisis is such that it is the bounden duty of everyone who studies the welfare of our country, to put aside party differences for the time being, and co-operate in national interests. In that, we , Conservatives will play our part boldly and courageously. TO FORESTALL EXPULSIONS. LONDON, August 26. Industrial writers forecast that Mr MacDonald and Mr Snowden will anticipate the events at the Trades Union Congress, and will send in their resignations. A BANKERS’ GOVERNMENT. LONDON,' August 26. The “Daily Herald” says: '“Trie new Government is not a people’s Government, but it is a bankers’ Government.” MR MACDONALD’S APPEAL. (Received 8.30 a.m.) ' LONDON,. August 26. Mr Ramsay MacDonald sent a letter to all Labour members of the Commons expressing bis deepest regret at th» division in the ranks asking them to consider the situation without prejudice before deciding the way they •will, take. He had watched lor weeks past the situation it increased in difficulty aUd had consulted every shade of opinion. '.He felt the financial stability was iri danger, and a run would have, made the financial consequences terrible. An envisage of this made temporary retrenchment inevitable. It was impossible to disregard the approaching calamity and escaping responsibility. Therefore when all is over the Party will be left untrammelled. We beg during the trying hours for dispassionate consideration of the hard issues. j: SEALS HANDED OVER. NEW MINISTRY SWORN IN. (Received this day at 9.25 a.m) LONDON, August 26. Large crowds at Buckingham Palace watched the arrival of the retiring Ministers who handed over the seals to the King. Immediately afterwards, the King held a Privy Council whereat the new Ministers were sworn in and given the seals.

MU THOMAS’ MESSAGE. (Received this day at 9.2 d n.nO v ' LONDON, August 26. Mr Thomas in a message to the Railway Review states.—‘"‘l considered it my

duty in the national interest to join the emergency Government. I realise my action will be ‘misrepresented or misunderstood, but I believe the step will not only react for the immediate and ultimate benefit of the workers, but was necessary in the interests of the nation.”

MR MACDONALD’S CAREER. Mr James Ramsay MacDonald was born in Lossiemouth sixty-three years ago. He represents the Seaham Division of Durham. His father was a farm labourer. As a student, young MacDonald paid diligent attention to his work and eventually became a pupil teacher. When twenty years of age, he went to London and obtained a humble clerkship for tiie meagre wage of 12s 6d a week, and, despite long hours of duty, he continued his studies. Subsequently,' he secured a post as • secretary to a politician, and he also began to contribute articles to various journals. Mr MacDonald was appointed secretary of the British Labour Party in 1900. He was chairman of the Independent Labour Party from 1906 to 1919, and leader of the Labour Party from 1911 to 1914. He has been editor of the- Socialist Library and has published various works on Socialism. He visited Australia in 1906, and has an extensive knowledge of the Empire, gained through touring various dominions. He is an effective speaker, and a deep reader. He is one of the intellectuals who have led the Labour Party. Under his guidance, the organisation has gained momentum, influence and status. Mr MacDonald is a tall, handsome man, with a sweeping moustache, a pleasant voice and a plausible manner. Although he advocates Socialism, he js by no means a revolutionary. He smokes a big cigar, and is one of the best- amateur gol'ers in Great Britain. He enjoys the close friendship oP several men highly placed in the Conservative and Liberal Parties. It was through him that a clos e working alliance was maintained with Liberalism from 1906 to 191 l! Mr MacDonald is a pacifist, and was a bitter opponent of British participation in the Groat War.