19 SEPTEMBER 1931, Page 1

News of the Week

Parliament ON Thursday, September 10th, the House of Commons received the official statement of the Treasury on the successful arrangement for British credits in the United States and France, for which we have to be humbly grateful. The portion, amounting to £20,000,000, which was open to the French public for subscription was fully taken up without delay. This is a sign of confidence in our fundamental stability and in our determination to support the Government in its stern purpose of restoring our national finances. The Opposition, believing itself safely irresponsible, condemns in speeches made in and out of Parliament both the purpose and the sternness. If it had had its way, as declared in those speeches, there would have been no such confidence abroad. We should have been friendless, and at best only able to count on such help as would prevent our bringing others down with us in ruin. On such unwilling help. Mr. Henderson seemed content to rely for justification in continuing a rake's progress.