SCULLIN'S DEFENCE.

Auckland Star, Volume LXI, Issue 164, 14 July 1930, Page 7

SCULLIN'S DEFENCE.

Intends Fearlessly to Balance : Budget. FACING THE POSITION. CANBERRA, -July 13. | Tl><? -Prime Minister. ZNIr. J. H. Seullm. | viiroronsir defended his Budget against j tiiii critics. He said that apparently i some people wished to repudiate debts! and reduce the war and old-age pen-] £ |on>. He certainly would not do that. | "VCe intend to co along fearlessly. j he added, "iaeincr the position and bal-i ancinc: the Bucget." The Attorney-General. Mr. F. Brennan, said he did not expect that the Budget would be popular. On the contrary, the Government intended it to be drastic. STOCK RECOVERS, SALLY IN LONDON. LONDON, July 15The rally of Australian Government stocks has been well maintained, and the- are still meeting with a good, inquiry. In some quarters the improvement is attributed to the bankers' resolution in favour of Empire free trade, for the commencement of the rise followed immediately on the publication of that document. But there is no doubt that the "better feeling was largely induced by the news of Sir Otto Niemeyers visit, and the expectation that his discussions with the Prime Minister of Australia, Mr. J. H. Scuiiin. will lead to an improvement in the economic and financial situation. Commenting on what he calls "Mr. j Scuiiins ruthless Budget."'' Sir Otto says! other means mav be devised to circumvent the great difficulties that face the Commonwealth. AMERICAN OPINION. ESSENTIALLY SOUND. NEW YORK, July 13. The "New York Times,'' commenting on Australia's finances, says Australia is essentially sound ana her resources are unlimited. Apparently she is suffering most from the effects of the attempts to regulate economic processes by law. The newspaper says Australia's new troubles illustrate the importance of the Imperial Conference to be held m London in the autumn.