Will Ultimately /be the Determining Factor Grat Britain has reached the parting of the political ways, and recently, on the resumption of Parliament, the Prime Minister proceeded to erect the signposts. The Government is unwilling to create a Ministry of Supply or greatly to increase the pace of rearmament; partly because its foreign policy remains one of appeasement with the Dictator Powers, and partly because its domestic policy still envisages the minimum amount of interference with normal trade activity. There is to be no financial and commercial evacuation of South-Eastern Europe or even of China. The Anglo-Italian Pact is to be given effective force. Our £10,000,000 loan to Czechoslovakia stands, but the question of further financial assistance appears to hinge on France's willingness to ce-operate, states "The Financial News."
A.RP, and civilian service are to be placed in the strong hands of Sir John Anderson, but their basis will remain voluntary, Altogether, Mr. Chamberlain's statement goes an appreciable way towards giving an answer to a question which has perplexed the Stock Exchange since Munich. If the Government's policy prevails, then normal cyclical infivences will count for more, and special factors for less, than some quarters in the market have tended recently to assume. It is necessary, therefore, for investors to re-examine the "normal" industrial influences before re-orientating their own policy,
Text read from the printed page and cleaned; old type leaves the occasional error.