UNKNOWN

Press, Volume LXVII, Issue 20199, 30 March 1931, Page 11

UNKNOWN

POLITICS IN AUSTRALIA.

OF NATIONAL ||f; HONOUR. 6|jjy POLICY ADVOCATED* STX33 ASSOCIATION—B* Br.Wmt'w ||lK|ij; -TtBUS<JEAPH—COPYEIOHT.) HH||#rod March 29th, 5.5 p.m.) fely " MELBOURNE, March 29. mm/tcS' a. Lyons, -Who recently re■Hßpi from the Ministry, has in||§&ft the leaders of all political mmm *nd ordinary citizens to ■SHI (Uffecences and unite to form mjßm Commonwealth Party to reand Internal credit integrity of repudiation of national HHilMtB by debasing the currency. HHwfittion of the currency from HBntits of a balanced Budget on jljlpgia of equality of sacrifice, to be HBpngly eifected as the financial the comnyinity permits, of Government expenditure nHpfoaable level corresponding with ■■MI is national income. BBt preference to Great Britain reciprocity. Hlttpisgement of productive enterHBseettring re-employment of the HHgwßate assistance to the man on ■b« with real money. Wgt Hoyalty to the People. HpfOlU said: "My mates and I have HKtfmys Labour men. We have no HUpo-day. Conscience has impelled Hnpasfer allegiance from the Party HHKaerved to the. people of AußtraHHttiW so many of Ihem are in dire,. and others approve of the HflpStealey Broee, a former Prime ■Kmr, welcomes the proposals and ■Hp* assistance. He adds: "The HHpjsust concentrate on returning Bwdttntiter to Parliament to give HWb'sneh a policy.' 4 Bb-FOR-AUSTRALIA ■ LEAGUE. BEr HUNDRED DELEGATES. ■HHrihrad Starch 29th, £.5 p.m.) HP SYDNEY, March 29. HHb hundred delegates attended Hffljjjiil-for-Australia" League CohSETCAt the Town Hall, SUB;'classes of city and colliitry precautions were taken to entry of any persona bent the proceedings, .which oy iree-spoken oritimms HKliailure of past and present to jgive the beirt »etHEMmtion was asked to deterthe League should aocept by supporting cmdidafcee arguing it* aims, |HHnH)fiQg iis own political movedivergence of views on was apparent. HHmttloit that.the League meet nnd the Nationalist Party leaders, to discuss to retrieve Australia's not received itfth any passed a 40 to create its own Watchdog. pre*id«nt, Mr At 3. SMB£|ferasirting the possible future «aici that steps should IHHpfajwvise State ana Ifcdor&l 'and bring thetthinto ■■Hsr with' pre&ent-day requiremust consider how i the |HHKshe'State could ho ctsrbed to of national finance. Arbitration Court. HHfigipr were of- outstanding ima division among the must he-remedied. The was not Fascist,, but of the nation's inLABOUR. ' K £ABTY planned. HBK March P-m.) ' H' WDNEY, 29. i ,Labour Conference,- m Labour Party tot Now ■K wiS sot recognise - any to fall in behind Mr, that Mr J. H., suggesting to tho a referen* of State Parlia-_ being kept secret, but that Mr Bcnllm and Mr are anxious to hnd jHraPthat is likely to appeal to if should bo KHEST DEFAULT. | scbprise IN H' ' BRITAIN. ' ' LONDON, March 37. of Commons Mr L. Mr J. H. Thomas 4he Dominions) whether to take «ny action in South Wales GipiT^ sentiments 'of all see* Hppaw whin I say the attiHHpew; South Wales has eaueed a He had asked the % ;Ap«tralia (Sir to communicate with in idew of the disAustralian predit NUed that the_ B4ttsh no flaaneial liability was iwlely a matand State

we canno^b^indiffe 11 th + 9 other - "But serious repercusS a breach of said. Mr Thomas ? "V-State," statement on Mondiv °?\\ ed a fnrth * r infonnAtioQ bm

NEW YORK OPINION.

THE COMMONWEALTH Agreement, (Received March 29th, 9 p. m .) Th« YOR K. Mawh 28. edfte Z, 6 " IrK Tim «" financial genial S Alth ® ugll there « in P I nn ° ? e su^ect what SatS nrilli"i° £ rrein ? n M issue noted in - Sin ble. default, it' has been issua ff/iao v. ? n 8 when an for granted ? e ? ault is taken willC' + A ¥ lef , current in providing f j-i. agreement wealth furida + r use . of CommonWales deSiH 0 - 1316^^ 116 New South FWt StioS" ! * es| ' coveK the

DAMAGE TO CREDIT.

COMMONWEALTH AND STATE OBLIGATIONS. (Received March 29th, 7 p.m.) ' _ LONDON. March 28. "The Times's" City Editor, citing the growing steadiness of Australian' securities after the slump, expresses regret that the Commonwealth Govern ment did not avoid the damage to Australian credit, due to .Mr Lang's recisieas decision, by announcing immediately after his intimation that it Would ensure the payments being made.— The Times" cable.

EFFECT ON ENTERPRISE.

LONDON,-March 27. Mr H. T. Price, a resident of Sydney, informs the Australian Press Agency that one effect of Mr Lang's decision is the collapse in the negotiations of a £600,000 company which was on the point of completion. The company intended to develop valuable textiles, combining wool and cotton from cellulose and also paper from straw in the Biverina. district.

OPPOSITION LEADER'S CRITICISM.

SYDNEY, March 27. Mr Bavin, commenting on Mr Lang's proposed default, said all Party considerations should, be suiik in a joint endeavour to save the State. "The announcement that the Government does not intend to pay the interest due in London on March 31st brings us," he said, "on the verge of the crisis that most of us have been anticipating as a result of the Government's policy. The consequences fiannot be fully fore-; seen, but undoubtedly will be serious^ "The Premier pleads consideration for the unemployed, but one of the first results v of his deplorable action will be that soon all chance of finding money for relief work, even to sa^e' people from starvation, will be destroyed. "One,.of the worst features is the proposal to' meet the indebtedness to America, while repudiating the obligations to the British, bondholders. It is hardly eoneeivable that supporters of the - Government would agree to such discrimination/'

COMMENT m LONDON. LONDON, •The "Financial News" says:' If a sense of honour, no longer weighs With Mr Lang, there is n& reason to suppose that it, is lost to the majority of the Australian citiaens. Stockholders may ; rest assured, on the' security of Australia's honour, that , they \ will receive .ftimes" saysi There is no development in the , Australian situation . that has done so much damag# as Mr Lang's decision. The record of price movements tells a story of «rtdit reaching a point at which it would he foolish toi this or any other country to lend money without a real &BBUX6UC6 that the debtor would follow sound courses. These events have 'occurred At 'a. profoundly 1 unfortunate time, when' the Commonwealth's export trade is increasing and .the commodity outlook seems better. There is no doubt that London will lend aid, Dtit it is' boixpd' to insist that the borrower give safeguards against bankruptcy. The "Daily Herald" regards Me Lang's remitting to New York and not meeting, the London obligations >as 'the JFOR AND AGAINST LANG , PI/AN.

SYDNEY. March 28. - The Press- was excluded frim the Federal. Labour Conference. An official statement indicated that the presid^t,. Mr Kenneally, in opening the proceedings, declared that the New South Wales State Party's revolt threatened the existence of the Labour Party throughout Australia. forecasted that a new Party would be ..the outcome in this State. Mr £ H. Scullin attacked the State A.TQP- for .its attitude towards Mr Theodore, whom' he warmly, defended. All the delegates condemned the Graves, State president, 'subsequently stated he was Mtperturbed at the " Conference s expulsion motion. "We take bur instructions from the' rank and flle of the Labour movement," he said, "Everr A.L.P. branch and union endqrsed the Lang Other members of the State Executive ridiculed the Federal Conference delegates' pretensions. > They declared they were actually political defendants.