GENERAL NEWS.

Taranaki Daily News, 9 July 1920, Page 3

GENERAL NEWS.

By Telegraph.—Press Assn.—Copyright. Li consequence of the Allied landings on various parts of the coast the forces of Mustapha Kemal after evacuating Brusa, are retiring towards the mountains of Olympus. The Greeks continue to advance along the whole north side of Lake Artynia with a view to functioning with the Britisn, ivho are landing at Mudania. ! Celebrations of Sleswig's re-union ; with Denmark will begin on the 9th. The King, riding a white, horse, will cross the border, and this will' be the signal for the opening of the festivities. Sir Joseph Cook has announced that subscribers to the new Australian loan will have the privilege of converting at face value an equal amount of stock held in tlio previous loan. Inquiries made in London as to whether a loan could be. floated showed that, owing to the very large amounts invested in industrial' and commercial ventures, lenders were asking rates of interest making it practically prohibitive for the Commonwealth to borrow there. At the farewell dinner given by the Tinperial Industries Club to Sir Thos. Mackenzie the latter urged the development of Imperial reciprocal trade. He described the New Zealand tariff in favor of Britain and against her late enemies. Kew Zealand recognised that spending money with people who might again be our enemies only assisted building them up for aggression. The Federation of British Industries, in a report on Government expenditure, said that the country was hopelessly, overtaxed. The Government should ascertain the real taxable capacity of the nation and frame its expenditure in ac ; cordance therewith. The growth ot. tho civil service expenditure was appalling and the Treasury was unable to exercise the necessary financial control. A sitting of the Lower House of the ( Japanese Diet broke up in uproar. The Opposition Leader accused the Ministers of Finance and Agriculture of speculating in stocks before the recent depression. The Premier, defending this colleagues, declared the charges were unfounded.