The Liberals and Development In the House of Commons on
Thursday, February 12th Sir Herbert Samuel moved a Liberal resolution on unemployment. The tone of the debate was determined by the financial alarm which Mr. Snowden had sounded the day before and by the acceptance, also on that day, of the Liberal amendment for the appointment of a committee to advise on national economy. Sir Herbert Samuel argued that the development which the Liberals wanted was really an aid to economy and had nothing to do with unproductive relief works. The work of im- proving the equipment of the nation was visibly waiting to be done, and, as for labour, it was obviously super_ abundant. The only remaining question was whether the capital was forthcoming. Mr. McKenna had declared that capital was lying idle on deposit in the banks. Over £100,000,000 had been invested abroad. The £12,000,000 loan to India had been subscribed in two hours. Even the Unionist Government had borrowed £73,000,000 for the Electricity Board, the railways and the Post Office. The present Government were borrowing £1,000,000 a week to keep men in unemployment instead of using money to put them in work.
Previous page
