GRAVE OUTLOOK

Hokitika Guardian, 17 February 1933, Page 6

GRAVE OUTLOOK

WARNING BY,MR LLOYD GEORGE

ATTACK ON GOVERNMENT.

LONDON,; Feb. 15. jiy rl.n the House of Commons, an unqinpioyiHciii debate that was notable lo,r the intervention of Air Lloyd Goprgjc, was initiated by a hack-bcucu ConjsifrVative motion demanding tlie 'encouragement of tjhe municipalities to undertake essential revenue pro-

ducing works. Mr Hilton Y oung, in accepting the

motion, said the Government was eager to assist municipalities to obtain loans for remunerative works, but the system of subsidies for relief works had already proved, futile in reducing the unemployment The Labour Government spent two hundred millions on this form of remedy, hut unemployment had increased by a million and a half.

ALr Lloyd George’s attack covered almost the whole field of the Government’s policy. He said the Government threw away fifty millions in trying to keep the sovereign at an artificial value. In seeking to reduce the adverse trade balance they found that tile reduction of imports meant the reduction of exports. The search for a debt settlement had only produced a tentative agreement at Lausanne, that was made without the consent of tlie creditor nation, the United States. The importance of the international debts, lie said, was being exaggerated. It was the tariff barriers that were squeezing the life out of international trade. What was the Government going to propose to the International Conference; It, could not demand a reduction in the foreign countries’ tariffs unless it was willing to.reduce its own tariffs. Everybody was going tojllat conference seeking for concessions.

Air Lloyd George said that there might be a catastrophe in America in Germany, or * elsewhere before . tlio Conference ended, which would produce a. panic. .Had the Government fjny dear idea of, what they were gding to propose at the World Confeience, or what they were going to do for the unemployed, if .it produced no agreement?