MOTHER COUNTRY.

Taranaki Daily News, 29 January 1917, Page 5

MOTHER COUNTRY.

THE EAST COAST RAID. A THItEE MINUTES' BOMBARDMENT. London, January 20. Official.—A small, unidentified German vessel approached the Suffolk coast last night and fired shells. No casualties resulted anil insignificant damage was done. Cable Association. Received Jan 28, 5.3 p.m. London, Jan. 211. The raider appeared off the East Coiiht at U o'clock at night and commenced firing star-shells. A sharp bombardment for three minutes followed. No one was injured. There was no panic, and the damage was slight. THE GERMAN VERSION. 'WE COULD NOT FIND THE ENEMY." A. & N.Z. Cabla Association and Reuter. Received Ja.n 28, 5.5 p.m. Berlin, Jan. 27. The official report announcing the Suffolk raid states: Our light forces penetrated the English coast and waters south of Lowestoft, in'order to attack ti;e hostile gu.irdsliips, but despite oik search we could not find the enemy. Our torpedo-boats fired on the fortified pbice of South Wold. Full hits were observed. 'Hit boats returned to safety without observing the enemy.

INCREASING FOOD PRODUCTION.

ASSISTANCE TO FARMER,I Received Jnn. 28, 5.5 p.m. London, .Inn, 2K. Official: A committee, representative (J agriculturists. lias been appointed io f.iivise the Board of, Agriculture in connection witli Hie increased production of food. A special department of tin latter question is to co-ordinate the work of country committees, and servo f.s a eounting-liouse for meeting tlie requests for labo.v fertilisers, etc. Pawners are making increased efforts in r»» lation to the harvest of 1017, and plans are in preparation for securing increased production in 1918. COUNTRY OVERFLOWING WITH MONEY. STAT KM,NT BY A BANKER. COMPARISON"wfTH GERMANS'.' Australian Cable Association. Received Jan. 28, 5..') p.m. London, -Tan. 2(1. Sir E. H. Holden, M.P., c-haii ■man of the London City and Midland Bank, slated at r me'ting that the country Is o'erflowing with money. The credit at the Bank of England before the war was 40 millions, and that credit had increased to 145 millions sit the end of I'Uii. It was i-ssential that all holders of Treasury Bills should convert at half of their holdings into War Loan jinck. This means that £500,000,000 would now become payable, being equivalent to £50Q,000,00<) of new money. Large profits were being made in consequence of the high price of commodities, and much of those profits were used to purchase Treasury Bills. These lan;,; sums would not be requires after th.\»?i, and it would be impossible to find a remunerative employment for them, as the banks had large holdings of deposits Then the money would flow out of the banks and g,, to securities, which would rise in price. German notes totalled £801.000,00"', while the British issue amounted to £105,000,000. In Germany the percentrge of gold was 15.7, while ours was 7.2. During t.li> war *ve sent to America £215,000,000 in gold. The American banking system required a fixed reserve of 15 per cent, so that to cover loans on that basis we were entit.lwl to a lofin of £1,400,010,:)00, whereof the Al!'cs had received £430,000,000.

DARDANELLES COMMISSION. INTERIM REPORT DRAFTED. Received Jan. 2.5, 5.5 p.m. I London, Jan. .20. It is understood the opinions of the members of the Dardanelles Commission arc pretty evenly divided on the question of issuing any report before the conclusion of the war, although a draft interim report has already been prepared. This cover-' the investigation into the responsibility of the High Command for the initiation of the campaign. '.lhe Commission is now inquiring into the later phase of the military openlions on the. Peninsula. I THE VICTORY WAR LOAN. • AMAZING TOTAL PREDICTED. London January :!tl. Bankers predict an amazing war loai) total. The Carnegie Trust has invested (Sy 3 millions. LABOR REPRESENTATION AT PEACE CONFERENCE. London, January 2f>. The Labor Conference passed resolutions that the British plenipotentiaries ,at the Peace Conference should include an adequate number of Laibor M.l'.'s; and that all the British representatives should work for the formation of an international League of Peace as advocated by President Wilson, and the adoption by all States of legislation insuring proper Jabor conditions on dards approved by accredited trades .unions is the respective countries.

SPEECH BY SIR JOSEPH WARD

CEMENTINC! THE EMPIRE,

CAPTURED OOLOXrES MUST BE RETAINED.

Received 2", 0.0 p.m

London 27. A striking feature of the Australian "corroboree" at tbc (Jomwuight rooms wan Sir Joseph Ward's declaration of I the Dominion's views on after-the-war conditions. It was tiio lir.-.t public lit- i tc-raneo regarding' the fate of the German colonies, and it was loudly cheered Sir Joseph Ward described -himself as a Irorn Australian and a young New Zca - I lander, lie said that not only were the Australians and the Xew Zeaiamlers engaged in a titanic strugslc with the troops of Britain, but those of India, Canada, South Africa and the islands of Uie Paeilie. What, lie asked, could be finer than tJic feeling existing to-day between Australia and New Zealand and the other dominions' Jt would certainly cement the Empire together stronger than ever, ami would result in ,1 more united Empire. "We have the greatest confidence that the commonsense of the people of the Empire will he superior to rtny differences. Australians and New Zealandcrs are kith and kin, and they would fiever be content with a reversion to pre-war conditions. There could not be a greater mistake. I saw with regret that in the magnificent Entente }vote to President Wilson no reference was made to the territories captured by Australia and New Zealand whose blood had. won the colonic? of the Pacific. We are determined they shall never go back to the enemy. The dominions are proudly and determinedly co-operating with the Motherland, to wliom thoy are indebted for the unequalled effort of wising five million soldiers. Wo will not allow anybody, not oven President Wilson, to suggest our peace terms. The men who fought, and' the women behind them, arc a.lone entitled to arrange the peace when the right moment arrives. The dominions are confident that those responsible for the government of Britain will see that victory firings a sure peace, and will consider with the dominions a scheme of Empire management. Although the present free system was beneficial., its t development would tend to the greater solidarity of the Empire, re-stimulating world-wide affection for our flag and our power of justice.'-'

CONSCRIPTION OF WEALTH. iiLTEHNATIVi' TO CONTRIBUTION* TO LOANS. Received Jan. 27, 5.5 p.m. London, Jan. 27. Lord Rhondda, President of the Losal Government Board, in a speech lit Newport, said he considered the Government wi,s justified In' conscripting the entire veil lib and piopcrty, as well as the manhood of the country. It was uni.iccssary to Jo this at presfnt, but it could only be averted by voluntary wntributions to the war loan. NATIONAL SERVICE SCHEME. TO BE PUT JN OPERATION. Received Jan. 27, 5.5 p.m. London, Jan. 27 Mr. Austen Chamberlain's national so vice sch"me will come into operation iirmcdiatf'ly. .Semi-official details follow closely upon the lines cabled. Men volunteers only will be taken at present. Ti.ey are wanted principally in munition factories, coal mines, shipbuilding, transport, -and agriculture. Standard rates will be paid. The age limits are jS and CO, and the volunteers are to go wherever they are required.

THE LABOR CONFERENCE.

PROTESTS AND DEMANDS. Reutet Service, Received Jan. 28, 5.5 p.m. London, Jan. 20. - The Labor Conference passed ,j resolution protesting against the abuse of the powers of authorities under the De-; fence of the Realm Act, and complaining 'that military compulsion was applied inequitably, also expressing ab'vm. at the proposals for'.industrial consciiption. The Conference unanimously protc.-t----'(I against the deportations and for.-ed labor in .France and Belgium. It also pivlusted against the attempts to in-, troduce cheap colored labor into BriUin, and urged that tiie Government aliouM* purchase all imported foodstuffs in the country wliero they were produced, and! arrange for th"ir transport and distribution at inscribed minimum prices; also l tliut the Government should simila■ !y, control homo-grown food-stuffs. A further resolution was passed declaring that the workers should oppose the Paris Economic Conference's po! : cy, and demand free trade in every country, n.'lh safeguards for the maintenance of labor conditions, to be fixed by the introduction of a trades union agreement. Add Labor Congress y E /.. X INCREASE OF SCHOOL AGE, .Received 27, 5.3 p.m. London, January 27. ".Plin, Labor Conference passed a resoi.il !.i:i in favor of raising school-leaving ago (>i Hi, and making compulsory parttime attendance until the child reached is years!. The .conference also favored boiler salaries for teachers.

REQUISITIONING OF FOREIGN SECURITIES. London, January 20. Tilio requisitioning of foreign securities may bo entirely at the market price, or temporary. The Treasury, in the latter case, pays interest plus onehalf per cent.- It is understood that the voluntary response to .previous Treasury requests was inadequate, and further measures aro necessary in the. interests of foreign exchanges. An Order-in-Couneil makes compulsory the hitherto voluntary sale or loan pf foreign securities, which aire immediately required. t .