REQUESTED TO PAY

Hawera Star, Volume L, 5 March 1931, Page 5

REQUESTED TO PAY

LANG FUNDS FALLING SHORT STATE SAVINGS BANK INTEREST PROPOSED RATE- RED||C7iON. (Units*! Press Association —By Electric Telegraph Copyright.) SYDNEY, March 4. The “Sun” newspaper says that the Lang Government is most seriously einbarrassed financially. The paper disclose- that £63-2.000 i* due to the State ■S:'.\ ieg'K B nix as interest unpaid, and the commissioners of the bank have written to Mr J. T. Lang saying they would appreciate payment. In the Legislative Assembly the Premier, replying to a question, said that legislation would be introduced as sete. as possible to reduce thy interest rates. The necessary Bills wore now being drafted. Mr Lang adh.d- “Cheap lntci-f; -t )s desired by even-body. High ml me,A is regarded as the curse of the comimmitv- ”

Mr Theodore's condemnation of Mr Lang’s policy lias so annoyed State Labour —that the executive has even instructions to the Dailey Labour Council, w'ucf oa,luted Mr Theodore's candidature, to expel him from the movement.

FEDERAL FINANCE OPPOSITION FROM BANKS. FIDUCIARY NOTE ISSUE. MELBOURNE, March 4. The chairman of the Associated Banks, Mr O. H. Tranter, announced to-day that as the Federal Government’s financial plan to create a fiduciary- note issue of £18,000,0-00 was a definite form of inflation the Federal Treasurer could not look to the banks for support. HOUSE REASSEMBLES FORMAL BUSINESS TRANSACTED. CANBERRA, March 4. The Federal House of Representatives reassembled to-day. Messrs Anstey, Beasley, Fenton, Lyons and Guy were among the absentees. The proceedings were brief. 'Resolutions of sympathy- were carried in silence following the deaths of the Princess Royal, Dame Melba and •Mr John West, late member for East Sydney. Feeling reference was also made to the Now Zealand earthquake. The House adjourned till to-morrow.