REDUCE EXPENDITURE.

Horowhenua Chronicle, 27 August 1930, Page 2

REDUCE EXPENDITURE.

SIR OTTO NIEMEYEB'S ADVICE Received Tuesday, 11 p.m. ADELAIDE, Aug. 26. , Sir Otto Niemeyer, director of th 6 Bank of England who has been advising Australia on finance, in a speech here said the resolutions at the Melbourne Premier’s conference which had been received satisfactorily i n London were merely the scaffolding upon which to build in future. The Governments of Australia must balance their Budgets and keep them balanced. It was essential that all maturing debts be met regularly. He emphasised that if the rates of interest to Australia were to be decreased gradually it could only be done by limiting other demands for money and ai ranging their Budgets so that they did not unduly encroach on private industry. The basis had to be on the side of reduction of expenditure rather than by increased taxation. Care would have to be exercised not to over-pro-vidc public utilities giving commerce and industry more than they really needed.

“ Pull Your Weight! V

AUSTRALIA CALLS TO CITIZENS.

Received Tuesday, 8 p:m,

SYDNEY, Aug. 26. Mr Ponton, acting Prime Minister, stated to-day that he was confident the negotiations now in progress would enable the Commonwealth to meet the £5,000,000 in Treasury bills maturing in London on September 2nd, He appealed to the people to pull their weight and have confidence in the recuperative powers of the country. He particularly urged private capitalists to release their purse strings.