CRITICAL DEVELOPMENT

Evening Post, Volume CXIII, Issue 91, 18 April 1932, Page 7

CRITICAL DEVELOPMENT

United Press Association—By Electric Telegraph—Copyright. *~" ■ "•** (Received 18th April, 10 a.m.) SYDNEY, This Day. Owing to the terrible muddle into which New South Wales finances have drifted in consequence of the Commonwealth's blockade and lack of banking facilities, Mr. Lang as Treasurer will have his hands pretty full in the coming week in finding a new way out of the impasse. The Government's cheques are being rejected in all parts of the State, and bitter complaints are being made by those who have any business with the Government. Further Federal action is now temporarily held up by to-day's High Court application by Mr. Lang for an injunction restraining the banks from fulfilling the Commonwealth attachment of State deposits. There are also critical developments which may force drastic action outside the ambit of Federal activity. It is authoritatively stated that the Premier will default in the matter of internal as well as external interest. The climax is expected this week when the Privy Council's decision regarding the abolition of the Legislative Council is anticipated. It is expected that this will completely transform die present outlook.