ILLS OF INDUSTRY

Sun (Auckland), Volume III, Issue 867, 10 January 1930, Page 9

ILLS OF INDUSTRY

SIGNIFICANT RUMOURS OF STATE REMEDY BACKING OF BANKS SOUGHT British Official Wireless Reed. noon. RUGBY, Thursday. Mr. J. H. Thomas, Minister in Charge of Unemployment, will tomorrow deliver a speech at Manchester in which he is expected to make an inn portant pronouncement on problems which he is trying to solve. Some newspapers forecast that the proposals, which have been discussed within a rigidly limited circle, will be made public by Mr. Thomas, and that these proposals will constitute something quite new to this country. It is understood that Mr. Thomas will deal with the possibility of obtaining the assistance of the banks toward restoring the depressed basin industries, notably coal, steel and textiles. 1 The “Daily News” speaks of the likelihood of the formation of an industrial finance organisation backed by the strongest resources available, and says: “Mr. Thomas is credited with the intention of reading a statement by Mr. Montague Norman. Governor of the Bank of England.” Interest also attaches to two forthcoming pronouncements by the Liberal leaders, Mr. Lloyd George and Viscount Grey. Both are expected to deal with the relationship of the Liberals with other parties, especially as they are affected by the position in Home and foreign politics. Viscount Grey will speak next Tuesday as Leader of the Liberal Council, and Mr. Lloyd George on the day that Parliament reassembles.