CONFLICTING POLICIES

Hawera Star, Volume L, 12 February 1931, Page 5

CONFLICTING POLICIES

FINANCES OF COMMONWEALTH THREAT BY WEST AUSTRALIA • OUR BOND NOT INSOLUBLE.” v liultcd crest. Aasociauuij —By klocinu ielegiayu SYDNEY, Feb. 11. 'lihe scene of the financial wrangle has simled from Canberra to Melbourne. The Federal executive of the labour Party assembled there to : day to deal with The ditlerenccs of policies a uicli have arisen between the Labour leaders. The Prime Minister and the Premiers of Victoria and South Australia attended, but Mr J. 1. Lang (N.S.W.), although invited, was not present. The vital financial policies of the Federal Treasurer (Mi- E. G. Theodore) and Mr Lang are now under consideration. Interviewed at Canberra to-clay Sn James Mitchell, Premier of Western Australia, said his State would have to reconsider its position in the Commonwealth ir a policy of wholesale inflation were resorted to by the Federal Government either \vith_or without the co-operation of the other States. “Our bond with the Commonwealth is not insoluble,” said Sir James. “Our destiny is not to be decided by Mr Theodore or Mr Lang and we cannot recognise the right of any other Government to impugn the honour of Western Australia.”

AUSTRALIA’S INDEBTEDNESS. AB ATEMENT NEGOTIATIONS. LONDON, Feb. 11. The Australian Press Association’s inquiries tend to confirm the Press cables from Australia that Mr Seullin is negotiating to obtain an abatement of the war indebtedness to Britain. Both the Dominions Office and Australia House refuse to deny or confirm, from which it is inferred that the negotiations are at a delicate stage.

The Australian Press Association learns that the naval, military and air force liaison officers at Australia House are being retired. Mr T. Trumble. secretary to the High. Commissioner, will act in their stead. The Agents-General are at present disinclined to comment on their proposed abolition.

Australian stocks were mostly further marked down yesterday with wide margins. The range was: Commonwealth. 5 per cent £65 to £7l, 6 per cent £BO to £B4: Victoria, 3 per otnt £47. 5 per cent £6l to £62; New South Wales, 4 ner cent £77, 3 per cent £6O to £64/ 34 per cent slightly better at £44 to £SO. 5J per cent £76 to £79, 64 per cent £73 to £7B, 6 per cent £73 "to £7B. 6 per cent £75; South Australia, 34 per cent £63; Tasmania, 61 per cent £7B; West Australia. 6 per cent £76 to £7B. “The Times” city editor to-day states that while there is little change in Australian securities the market remained anprehensive in regard to events of the next few weeks. Arrangments have not yet been made to renew the heavy Australian liabilities shortly maturing in London.

The “Dailv Telegraph’s” city editor said there was little doubt that a Government which had had the courage to imnlmnent Sir Otto Niemeyer’s recommendations in Australia would meet adequate financial heln in London.