SOUND FINANCE.

Auckland Star, Volume LXII, Issue 286, 3 December 1931, Page 7

SOUND FINANCE.

LYONS PARTY'S AIM.

Mandate Sought on Lines of

British Example.

INFLATION CONDEMNED

(United P.A.—Electric Telegraph-Copyright)

SYDNEY, December 2

A speech in which was expounded the policy of the official Opposition (the United Australia party); was delivered by Mr; J. A. Lyons in the Sydney Town Hall this evening.' He said the first duty of the Federal Government. should be to adhere unfalteringly to the principles ot sound finance and avoid crazy schemes for creating unreal money. The Scullin. .government, until its hands were forced, had failed to uphold the honour of the country, and had enormously aggravated depression and unemployment. Moreover, Mr. Theodore was still bent on demented schemes of inflation, and the overthrow of the present methods ot banking, said Mr. Lyons. The-- Treasurer wanted to replace the present trusted banking system with a monopoly of banking under political control, whiCJi would prove calamitous

The speaker appealed to the electors for a mandate such as had been given to the new British Government, aiming at the restoration of confidence in Auetralia, meeting her difficulties with such action as. the party considered to be necessary, . and administering her finances in such a manner as would stimulate faith and stability. Further Economy Promised. An endeavour would be made to make Australia an attractive field for investment. Encouragement would be given for the development of private enterprise and production. Further Government economies would be effected in order to balance the Budget, and ae soon as practicable the heavy load of taxation would be lightened, as it was realised that the whole question of providing employment depended upon the measure of relief afforded to the taxpayers. Relief also would be provided through the tariff to such industries as were affected by the excessive duties imposed by the Scullin Government, but no sudden drastic changes would be made.

Reciprocal trade agreements would be made with other countries, and the fullest measure of preference would be given to Britain, The United Australia party favoured an amendment of the Constitution in order to give expression to the demand for new States and a fuller recognition of the principle of local government. Mr. Lyons outlined the party's aims for arbitration reform. He concluded by declaring that the party was strongly of the opinion that Australia should accept her fair share of the cost of the* defence of the British Empire, and, above all, provide adequate local forces to deal witb any emergency.