COMMONWEALTH ELECTIONS.

Press, Volume LXVII, Issue 20412, 5 December 1931, Page 15

COMMONWEALTH ELECTIONS.

POLICY OF LABOUR. COMMENT BY MR BRUCE. (Received December 4th, 5.5 p.m.) LONDON, December 3. "Mr Theodore's speech (as Federal Treasurer),_ opening the campaign, is the best Evidence of the necessity for a change of Government," declared Mr Stanley Bruce. "Fortunately, the Senate has prevented. Mr Theodore giving effect to his dangerous and wild schemes relating to currency and banking ' , "Australia has weathered the greatest storm in her history, despite, and not because- of, Mr Theodore: but all ho has accomplished will be dissipated if Mr Theodore is returned to the Treasury. lender a Government led by Mr Lyons tho progressive improvement would continue, but if Mr Scullin is reinstated, with Mr Theodore's financial policy, the growing confidence would l>o destroyed, currency depreciated, the purchasing power of wages reduced, and disaster would overwhelm the people, notably the working class." SAVINGS BANKS. COMMONWEALTH AND STATE MERGER. SYDNEY, December 4. The Commonwealth and New South Wales State Savings Bank merger agreement has been passed by 6 both Houses of Parliament,, and money will be available to depositors by December 14tb. • The State Government is to repay to tho Commonwealth Bank the Treasury deposit of £7,112,564 by 40 equal liallyearlv payments, the first of which falls due on November 30th. 1936, i with interest at 4 per cent.

UPPER HOUSE. ' . • MORE LABOUR NOMINEES PREDICTED. SYDNEY. December 4. The "Sydney, Moruing Herald" reiterates that Mr J. T. Lang (Premier) iatends to approach the-.Governor (Sir Philip Game 1 ) before the resumption ot Parliament, and z-equest 25 additional Labour appointments to the Legislative Council. MELBOURNE FIRE. ESTIMATED DAMAGE, £25,000. MELBOURNE, December 4. Damage estimated at £25,000 was caused by a fire which destroyed the factory of the Commercial Boxmakmg Company, and large stacks of timber in South Melbourne, owned by several firms. 1