COMMENT BY SIR HILTON YOUNG.
Smnall wonder that la:tir in the debate Sir E. 'Hilton Young should have declared that Mr. Shaw's argument that £100,000,000 could be saved by -taking into con- sideration some alleged value which the holders of the Government. War Loan enjoyed as a result of deflation would cause anxiety in commercial, industrial and financial circles. As a matter of fact, British Government Loans, which had been steadily rising previous . to Mr. Shaw's statement,. received a nasty jar. LaSt, week I had to refer to the ill-effects produced by the Unemployment Insurance Bill, with its - extension of the dole to youths, and British Government stocks had barely recovered' from the ill:effects produced by that measure when they were again affected by Mr. Shaw's ill-timed and ill-judged remarks, coming, it must be observed, direct from the mouth of a Cabinet Minister. Moreover, on the same evening and in another place, the Chancellor of the Exchequer, Mr. Snowden, gave a very clear hint of increased taxation in the forthcoming Budget.
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