SECOND THOUGHTS

Hawera Star, Volume L, 7 April 1931, Page 5

SECOND THOUGHTS

SOCIALIST STATE PLAN LABOUR REVOKES DECISION SCHEME WATERED MOWN MERELY IDEAL PROPAGATION. (United Press Association —By Electric Telegraph Copyright.) SYDNEY, April 6. The Labour conference of'State delegates to-day by 65 votes to 35 revoked its decision of last night adopting the three-year plan for/ the socialisation of industry. The conference watered down the plan of socialisation to provide merely for propagation of the aims and ideals cabled yesterday. Labour members of Parliament will be invited “to exert their, energies towards the accomplishment of socialisation. ’ ’ One delegate declared that the plan adopted yesterdays was impracticable and would plunge the country into civil war. Another delegate in a fiery speech said he was prepared to give his blood for the cause. Their slogan should be Sinn Fein. .Still another claimed that the socialisation committee had neither the brains, the understanding nor the inclination to plan a practicable scheme of social revolution. 'CRITIC’S DRASTIC SUMMARY. The Federal. Treasurer, Mr. E. G. Theodore, summarises the effects of Mr. Lang’s policy” as follows: — (1) The destruction of confidence in the Government’s contract. (’2) The encouragement of breaches of contract by private individuals. (3) Refusal by the taxpayers to pay taxation, especially those affected byinterest bank depositors. (5) The transfer of money from New South Wales to other States. (6) The curtailment of credit, adversely affecting all branches of business. j (7) Inability” to raise loans for pub- I lie works. i (S) Possibilties of internal strife. The Premier, Mr. J. T. Lang, announces that the Government of New South Wales is increasing food relief grants by 25 per cent. He declares that New South Wales State is stronger financially” that at any time during the past two years. “This State is miles ahead of any” other," ho added.

FIDUCIARY BILL. POSSIBLE PLEBISCITE-. MELBOURNE, April 6. The Prime Minister, Mr. J. 11. Sculiin, in a speech at the Victorian Labour Conference, declared that the Ministry would appeal to the people, if the Fidiciary Bill was rejected by the Senate. The announcement was received with applause. “New uprisings are occurring in all parts of Australia with the idea of stirring the imagination of the people, but Labour is in the happy” position of not having to search for a name and, to defeat it, all sorts of combinations some not yet named, are necessary," added Mr. Scullin. “It is remarkable that so many financial geniuses can be found since the country turned out the Bruce Government and Labour assumed office. The country” has become full of financial saviours. ’ ’

R EJECT lON PREDICTED CONFIDENCE LOST. Received 11.30 a.m. to-day. MELBOURNE, Ajwil 7. Commenting on Mr Scullin’s remarks cabled yesterday, Mr Latham said: “I do not doubt the Senate will reject the Fiduciary Bill.’.’ At Hobart Mr Lyons stated: “The sooner we get to the country the better from our standpoint. We have felt for a long time that the Government has absolutely lost the confidence of the people of the Commonwealth.” LANG REPUDIATION. SHOOK TO TRUSTEES. LONDON, April 5. The ‘‘Morning Post’s” financial editor says a great shock has been given the holders of trustee securities by Mr. Lang’s repudiation, and it is scracely surprising thar. the general question of the responsibility incurred by overseas Governments under the Colonial Stock Act should be' raised. The paper quotes a correspondent who asks apropos of Mr. Lang wliat guarantee there is that a crisis will not arise in the future. The “Post” points out, that it is manifestly impossible for the British Government to permit a person with such financial influence as Mr. Lang by virtue of his office to cause wide-spread ruin to the beneficiaries in - what are often small estates.