LYONS’ DECLARATION AGAINST LANGISM

Bay of Plenty Times, Volume LX, Issue 10831, 1 April 1932, Page 3

LYONS’ DECLARATION AGAINST LANGISM

Fight to a Finish.

STATE DEBTS BEING PAID.

Svdney. March 31

The Prime Minister, Mr J. A. Lyons, in addressing the first genera! convention of the United Australia Party in the King’s Hall. Sydney, said the Commonwealth Government was in conflict with the Government of New South Wales and would fight it nut to a finish. So long as Langism remained tlie position for Australia as a- whole was hopeless. The principal business of the convention is (he adoption of a constitution.

A message from Canberra slates that provision has been made by the Commonwealth Government to pay on behalf of New South Wales about £9ofl,<U>o for interest due in London to-morrow and about £200,000 due in New York. These amounts are inclusive of exchange.

London, March 31

The Financial News says it understands that negotiations for a renewal of Australia's £4,500,000 of Treasury Bills have been satisfactory concluded, it is believed at a lower rate of interest. A further sum of £250.000 of the original amount will be repaid at maturity to-day. London, March 30.

The Agent-General for»New South Wales, Mr A. C. Willis, has cabled to the Premier, Mr J. T. Lang as follows; —“I have interviewed a number of representatives of large holdings in New South Wales stocks. They will not negotiate for a moratorium owing to the acceptance of all liabilities by the Commonwealth. I am strongly of the opinion that if the Commonwealth, together with the States, made representations with a view to a suspension of interest payments or a. reduction of interest rates, an arrangement advantageous to Australia could be made.”