AUSTRALIA.

Press, Volume LXVI, Issue 20038, 20 September 1930, Page 15

AUSTRALIA.

THE FINANCIAL POSITION. A NEWSPAPER- OPINION. (TOITED PK ESS ASSOCIATION —ST ELECTRIC '•."ELEQRAPH—COPTRIGHT.) (Received September 19th, 8.45 p.m.) LONDON, September 19. The "Financial Times" says: "It would seem that the fall in Australian Government securities had , well .nigh reached bottom. Considerable parcels of stock have been sold during the past few days by., people who are uneasy about the political financial outlook in the Commonwealth. • . "Unless it be supposed that Australia is actually on the brink of » crash then it must be admitted that the quotations are extremely low. "Mr Scull in will doubtless make a statement on his arrival. There has been a lot of hot air talk lately, but it must be remembered that the extremists usually receive more their fair share of advertisement.

WILL TAKE STEPS.

BALANCING THE BUDGET. STATEMENT BY \IU SCULLIiN. (Received September 19th, 8.45 p.m.) " MARSEILLES, . September 19. The Orama arrived at Toulon" at midnight. Mr Scullin, who is on board, is "still far from' well. He stated that-owing to illness he had not received many communications from Mr Fenton, the Acting-Prinie Minister, but. he was Confident that. Mr Fenton: and' his colleagues would take the ' proper .steps to meet the critical situation. "We decided to balance the Budget. If it is necessary," he said, "additional action will be taken; and Parliament reassembled before the financial year is far. advanced." ■ ■ Asked whether he would. mate , any reply to the Australian Council of Trade Unions' demand for a reduction of interest and. war debt, etc., Mr Scullin answered that there were many questions to be discussed' with the British Government, and he could not anticipate- those discussions.