N.S.W. Will Not be Australia’s Chopping Block

Horowhenua Chronicle, 24 February 1932, Page 7

N.S.W. Will Not be Australia’s Chopping Block

PREMIER LANG IN DEFENCE.

SAYS COMMONWEALTH WILL HAVE TO DEFAULT SOON

SYDNEY, Feb. 23. When the State Parliament reassembled to-day the Premier made a long explanation of his attitude in failing to meet interest obligations. He attacked Air. Bruce, Assistant Federal Treasuici, declaring that ho was responsible for the war on New South Wales, resulting in the Federal Government introducing legislation for tno confiscation of another Government's moneys and property. Air. Lang exclaimed: "If it is war they want they will get it. Aly Government will win because its cause is right. Wo are not going to allow this State to become the clipping block for biassed people like Air. Bruce ad the Alelbourne coterie which is running the Commonwealth Government. Aly Government has adopted the broad principle of debt postponement for if everybody, during a period of deflation, is called upon to pay debts then bankruptcy is inevitable. Thus we are going in for a policy of debt suspension to enable the people with assets to retrieve the position when boHor times arrive. ’ '

Mr. Lang predicted during his speech that every Premier in Australia would have to default interest payments within four months unless Gio banks paid it for them.. Also, the Commonwealth Government itself must, /ithin a few months, ask for a suspension of interest payments.

If the Commonwealth Government was intent on extracting three m. lu a interest from New South Wales by legal processes, then there was only one section of the community from whom it can be taken, Mr. Lang said, and that is the commercial and mortgagee classes. “It is their problem solely and if they say money must be paid then I am prepare- 1 to provide them with the machinery requisite to pay it,” he added. “At any rate the Commonwealth can bank on th State taking any and every step to do feat this mad policy of destruction of wage conditions and social services designer! to alleviate the poor and needy of this State. ’ ?