“UNWORTHY” REMARKS

Hawera Star, Volume L, 11 September 1930, Page 5

“UNWORTHY” REMARKS

MR HUGHES TAKEN TO TASK

EFFECT OF RECENT UTTERANCE,

IMPAIRING OF AUSTRALIAN CREDIT.

(United Piws Association— By Electric Telegraph

Copyright) Received 10.30 a.m. to-day. SYDNEY, Sept. 11. “His remarks are utterly unworthy of a man who has been Prime Minister of the Commonwealth and are likely to have a serious effect upon Australian credit in London,” commented the Premier (Mr T. R. Bavin) upon the statement of Mr W. M. Hughes regarding Australia’s debts.

Mr Savin emphasised that there was no truth in Mr Hughes’ suggestion that Sir Otto Niemever had attempted to dictate Australia’s financial policy. On the contrary, he had come to Australia by invitation to tender expert advice as an impartial outsider. Unfortunately much more significance would be attached to Mr Hughes’ remarks. in. England, than they deserved. Most people were not aware that he was a spent force in the Commonwealth.

Mr Hughes gave it. as his opinion that. Sir Otto Niemeyer’s talk about Australia’s debts was only a smokescreen designed to induce a radical change in national policy and stampede people into a compound in which the interest represent by Sir Otto desired to intern them. Acceptance of the policy suggested by Sir Otto Niemeycr would only result in stagnation and despair.

CONDEMNED BY “THE TIMES.”

MR HUGHES “EXTINCT VOL

CANO.”

LONDON, Sept. 10. ,

"The Times” in an editorial hotly attacks Mr W. M. Hughes’ speech in reply to Sir Otto Niemeyer’s report. The paper says the speech might be taken more seriously if Mr Hughes were not an extinct volcano. The paper describes the speech as sponsoring the most pernicious features of Australian life.

The editorial proceeds to regret that the Federal Government has momentarily adopted what seems to be a hesitating attitude on the reduction of the standard of living. Any postponement of the necessary measures cannot fail to exercise an unfavourable influence on Australian credit.

EXCESS OF EXPENDITURE.

FIGURES FOR. PAST TWO I MONTHS.

Received) 10.30 a.m. to-day. SYDNEY, Sept. 10. The first of the financial reports' of the Federal Government as agreed upon at the recent Premiers’ conference wa.s issued to-day. It discloses that for the two months ended August 31 there was an excess of expenditure over revenue of £2,259,000, but as many i,terns of revenue are seasonable, notably land income tax, and necessarily small, the figure* do not give an actual idea of what/the returns will be at the end .Out bry'year.

EFFECT ON BRITISH TR ADE

MA NUFAOTURERS’ CONCERN

LONDON, Sept. 10.. Jti view of the Imperial Economic Conference the British. Council of the Australian Association of British Manufacturers has thorough its chairman, Sir Arthur Balfour, sent a memorandum to Lord Passfiekl emphasising the grave effect the present economic situation in, Australia is having] upon British trade and submitting suggestions.

ECONOIN TIES IN NEW SOUTH

WALES.

COUNTERING REVENUE DROP

Received 10.30 a.m. to-day. SYDNEY, Sept. 11. The financial report of the New South Wales Government for the first two months of the financial year shows a decrease in revenue of £1.196,195 compared with the similar period of last year. The railways and tramways were responsible for a large proportion of this amount. The decrease in the expenditure was £560,426. The Treasurer (Mr Stevens) stated that, notwithstanding the decline in the revenue, which had been expected, the position was well in hand, and provided they continued to exercise the same degree of economy as already practised, there was no reason why the ledger should not be balanced by tbe end of the year.

POSITION IN OTHER STATES

ALL REPORT DEFICITS

Received 10.40 a.m. to-day. y. BRISBANE Sept. 11. ’The revenue for the first two months of the financial year was £1,920,456, the deficit being £218,606. ADELAIDE!, Sept. 11.

The revenue and expenditure return for the two months allows a deficit of £656,359.

PERTH, Sept. 11. The Western Australian shortage for the two mouths totalled £565,896 HOBART, Sept. 11. The Tasmanian deficit at the end of .August was £29.882. The total debit balance is now £259,470.