5 SEPTEMBER 1931, Page 2

In The Times of Saturday last Mr. Appleton, the highly

respected Secretary of the General Federation of Trade Unions, denounced the Labour policy as " spelling ultimate disaster to all workers," and was answered acidly but ineffectively by Mr. Citrine on behalf of the T.U.C., whose advocacy of mobilizing foreign securities Mr. Appleton countered later with a suggestion that we should begin by mobilizing our old Russian investments. He wrote of what is near his heart when he deprecated further taxation of invest- ments that include £123 millions of the savings of the poor in Registered Societies alone. He is economically sound when he sees in the dissipation of investments in unremunerative expenditure the impoverishment of future generations.