rhe White Paper begins by veferring to the polley agreed upon be-{teen the, "Brit Commonvrealth foveraments concerned and the com fenies "in the "Cable & Wireless Inertes' in 1928-29 for the, mainten-nee and development, under British Sontrols of the overseas cable. and Sireless system of the Empire.
'Ti potiey, the document s0y3, has veen dndnnored in recent eats partly because the operating company Ras been unable to earn the expected avenue' and. thus has been unable {o'reduce the tari to the full extent hoped, and parily owing t0 the threat. of" foreign completion on Empire routes, For some time the governments eonecrned have Ween engaged in ¥e~ Slowing, the position and. negotiating With Cable, & Wireless, asa result which" certain proposals "have emerged, The British Government, with the general assent of the Dominions Gow Eenments and. the. Government "of Tnalar'ie prepared' to approve these proposals, subject. to Parliamentary Finanelat Sacrifices tovolved financial sucriteas by. the United The proposed settlement calls for
'Kingdom and. most overseas Covernneniscand by the Company. and its Repelatons but itis. boltoved that sihese ne' offgt bythe benellts acall. parties, in partiewlar the public users of the Company's} system.
The main purpose of the proposed settlement is threefold, 'The first provides for an immediate substantial Feduetion of Empire telegraph rates, and makes it more easily' possible for further reductions to be effected in future if the expected stimulus to gramme makes this praetleabie, Secondly, it relieves the present strain onthe finances of Cable Wireless Ltd. by providing for, exchange the prior charge on the Company's revenues, which the British Government now hold (in the form of rental for beam wireless stations) for interest in equity undertaking.
Thirdly, the Governments concern-ave asked, in confirmation of the potiey agreed in 1928, to accord the Fullest support "and ce-operation to the Company's system.
Text read from the printed page and cleaned; old type leaves the occasional error.