IMPERIAL POLITICS.

Taranaki Daily News, Volume LV, Issue 54, 22 July 1912, Page 5

IMPERIAL POLITICS.

THE NAVAL ESTIMATES. FINANCIAL DEBATE. By Cable—Press Association—Copyright. London, July 19. The supplementary estimates accelerate the construction of eight light armored cruisers of the 1012 programme, and also tho building of submarines, but no additional vessels will be laid down. The Finance Bill was read a second tune by 26D votes to 221. Mr. Lloyd George defended his policy in a speech devoted to the refutation of the suggestion that consols and other gilt-edged securities had depreciated owing to Radical finance. Mr. Bonar Law attributed the disquiet in the city to speeches advising the people to take from the rich in order to give to the poor. BRITISH SECURITIES. London, July ID. Several newspapers fasten on Mr. Lloyd George's expression yesterday that one reason for the depreciation of British securities was the. conspiracy to run them down. This had been operating for years on platforms and in the press. When there existed an organised attempt to decry and disparage securities the result must affect the market. Lite limes ridicules the notion, and adds: "Mr. Lloyd George is the first Chancellor uf the Exchequer who has neu r .ihown a disposition to consult the finance men in tho citv and elsewhere who understand the" broad aspects of finance. He has adopted an attitude of antagonism to them and disdained their co-operation, trusting to his own headstrong ignorance."