COMMONWEALTH ELECTIONS.

Press, Volume LXVII, Issue 20411, 4 December 1931, Page 11

COMMONWEALTH ELECTIONS.

EFFECT OF DOMINION RESULTS. NATIONALISTS DELIGHTED. (UNITED PRESS ASSOCIATION —BT RL«CTBIO TBLXGRAFH —COPYRIGHT.) (Received December 4th, 12.28 a.m.) SYDNEY, December 3. The outcome of the New Zealand elections was received with considerable satisfaction in anti-Labour ciifcles throughout Australia. All the political Parties engaged at present in the Fedoral election campaign were looking forward to the Dominion figures, and the Coalition's heavy majority was featured in all the chief newspapers. Mr J. Beasley, leader of -what is known »as tho Lang plan faction, delivered a policy speech in the Sydney Town Hall to-night. His Party has candidates standing for all the metropolitan and some eountry seats, and also three nominees for' the Senate. Mr Beasley favours the nationalisation of banking and complete control of finance by the Commonwealth Bank, whose object should be "to see that the real wealth of the people as measured by goods is covered with sufficient cim rent credit to allow trade and commerce and employment to continue." This is the essence of the Lang financial plan. He contended that the Commonwealth Bank was now a terrible weapon of- oppression and destruction, He also advocated co-operative maT< keting controlled by producers, the fixation of prices and profits, a tariff for tho protection of secondary industries, and a defence policy for home defeneo only.

AN OPEN MANDATE.

VIEWS OF MR BRUCE. LONDON, December 2. "The real question for Australians is; Are they prepared to place tlieir confidence in a Government led by Mr J. A. Lyons, or are they still willing to entrust their destinies to Mr J. H. SculUn and Mr E. G. Theodore, after their record in the past two years 1" said Mr Stanley Bruce, commenting on the leaders' policy speeches. Mr Bruce added that Mr Lyons had asked the people to give the Government power to take whatever steps 1 might be necessary to solve the great problems that would inevitably confront Australia and the rest of the world in 1932. Great Britain had returned a Government with an overwhelming majority, with such a mandate, and Australia would do well to follow suit. VICTORIAN POLITICS. GOVERNMENT ESCAPES DEFEAT. (Received December 4th, 12.28 a.m.) MELBOURNE, December 3. The l£ogan Labour Ministry survived a no-confidence motion to-day on the casting vote of the Speaker, Sir Alexin* der Peacock, by. 27 votes to 26. Sir Stanley Arrjylo launched the motion whicji was based upon the Govern ment's tactics in connexion with unemployment relief.

LANG POLICY OPPOSED,

DEFEATS IN UPPER HOUSE. SYDNEY, Pocmbor S. The Government, which w»j) flve times defeated on Tuesday, again twice defeated jn the Upper House. J. M. Concannon, Leader of the Government forces, repeated his previous threats that the Government would find means to put its measures into effect, in spite of the Opposition. The "Daily Telegraph" interprets this as meaning that pew Council appointments will be sought.

LOCAL ELECTIONS POSTPONED. SYDNEY, December 3. The Government, by proclamation> has postponed tho municipal elections for the county of Cumberland from nest Saturday till January 2n,d. The Local Government Association obtained the opinion of leading counsel, •who advised that the proclamation wbs valid and could not be upset.

EXCHANGE RATES. CONTROL BY COMMONWEALTH BANK. MELBOUENE, December 3. Arising out of a three-day meeting of the Commonwealth Bank Board, the Commonwealth £ank has now taken control of the exchange position. This bank will announce every Friday evening its official rate for the time being. Leading trading bank officials in Sydney stated that though they had taken no action they, would have to adopt the rates quoted by the Commonwealth Bank. The reduction would mean a saving of approximately £18,000,000 to tho Governments in meeting overseas commitments.