Mr. Philip Snowden, former Labour Chancellor of "the Ex-Jckequer, moved a Labour amendment refusing to assent to the Bill, which, he said, by providing for return to the gold standard with undue precipitancy, might aggravate ithe existing grave conditions of unemployment and trade depression.
Mr. Snowden emphasized that he did not oppose the return to the gold standard but protested against the (Government's undue precipitancy. The Labour Party, by the ame ment, dissociated themselves from. the disastrous consequences that [might result (Ministerial laughter) He did not accept Mr. Churchill's statement of the existence of practical parity between prices in Britain and in the United States. Mr. Snowden thought that the ference amounted to five per! cent. The Government should have waited a little longer in the hope. that parity in gold level prices would the reached by the normal operation of trade.
Text read from the printed page and cleaned; old type leaves the occasional error.