2 OCTOBER 1925
Mr Stanley Baldwin, the Prime Minister, was presented with the freedom of Glasgow, and was afterwards entertained at a civic luncheon. Later in the day the Premier opened two of the Corporation Housing Schemes and a Child Welfare Centre. After his outdoor engagements, Mr Baldwin, at a gathering in the City Chambers, made an important statement on the housing conditions in Scotland.
After rejecting an amendment in favour of nationalisation of land without compensation, the Socialist Party Conference at Liverpool carried on a show of hands a resolution submitted by the Executive outlining policy on the land problem and declaring that, pending the accomplishment of public ownership, land values should be subject to taxation. Mr Ramsay MacDonald defended his conduct of foreign policy during his late Premiership.
An official resolution, moved by Mr Sidney Webb at the Socialist Party Conference, pressing for public ownership and control of the banks and credit system, and the development of co-operative and municipal banks, was adopted.
Mr Ramsay MacDonald, in an address on “What is Socialism?” said capitalism organised human beings for economic and material ends, whereas Socialism organised economic and material resources for human ends. He did not believe in revolution, because we had now got democracy.
What is described as a temporary settlement of the question of the French debt to the United States has been reached, and M. Caillaux has sailed from New York for France. No agreement has been signed, however.