FEDERAL POLITICS

Hokitika Guardian, 29 April 1931, Page 5

FEDERAL POLITICS

MR THEODORE. * _ ••- (Australian Press Association.) (Received ,thi» day 9.40 a. in.) ADELAIDE, April 28. Addressing a meeting of business people, Mr Theodore said the year before the Federal Government came into office, imports totalled 153 millions sterling, but this year they aggregated seventy-two millions. exports this year would reach eighty-nine millions, a favourable trade balance of seventeen millions. He claimed that the Government /had effected economies in administration since coming into office totalling four millions sterling. Jt Was propos--ed to introduce legislation basing values of imports on Australian currency. Mr Theodore said if the causes of the degression continued indefinitely* Australia was going inevitably to utter ruin, but reliable opinion had been expressed that the bottom of the depression had been touched, and. there would be an improvement in the prices of Commonwealth products. ~ FEDERAL POLITICS. CANBERRA, April 29. The committee stages of the ComBank Amendment Bill was completed and the third reading carried on the voices. It is expected that the Bill will be submitted to the Senate during the week, Mr Lang’s group urged unlimited note issue, but the Opposition, forces, combined with the Government, defeated an amendment to this effect by 49 to 3 votes.

N.S.W. AGAIN DEFAULT. ON INTEREST PAYMENTS. (Received this day at 8 a.m.) CANBERRA, April 29. Mr Scullin announced to-night that Njdw South Wales Government would default by a million and a half sterling interest payments on May Ist. Mr Lang had informed him that the most the State Government could find by that date was thirty-eight thousand. Mr Scullin added that the Commonwealth therefore would have to foot the bill for the remainder.