THEODORE HARKS BACK

Evening Post, Volume CXI, Issue 39, 16 February 1931, Page 9

THEODORE HARKS BACK

OF SAME OPINION STILL

HIS POLICY THE ONLY WAY

CANBERRA, 14th February

After participating yesterday in a decision of the Premiers and Treasurers' conference, Mr. E. G. Theodore caused surprise to-day by resuming his advocacy of his own plan, and attacking the Australian banking policy. He declares that he is convinced that the policy he outlined to the conference covers the only practicable way of meeting equitably the economic problems now facing tho country. Ho considers it an attempt to correct the British-Austra-lian blunder of returning to the gold standard in 1925. Ho suggests the following steps:— (1) Business activity must be stimulated in every direction to provide employment for a maximum number of men. (2) Government costs must be cut to the bone. (3) There must be a full recognition of tho payment of external indebtedness within tho limits of the Commonwealth's capacity. (-1) There must be no overseas interference with the policy wo adopt to obtain internal adjustments. Mr. Theodore also urges an endeavour to balance the Budget within the next three years, and a universal sharing of the sacrifice necessary to secure an economic adjustment.