FEDERAL ELECTIONS

Inangahua Times, 22 December 1931, Page 3

FEDERAL ELECTIONS

(United Press Assn—By Electric Telegraph—Copyright.) BRITISH PRESS COMMENTS FOUGHT ON BRITISH LINES WITH SIMILAR ISSUE LONDON, December 21. The News Chronicle says: The Australian elections were fought on much the same issues as the British and yielded a remarkably similar result. The electors were so terrified by the spectre of financial chaos that they returned virtually a National Government, whose advent will re store public confidence. PERSONAL SIDE The Times in an editorial, says: The election was a great triumph for Messrs Lyons and Latham and a disastrous defeat for Mr Scullin and a repudiation of his evil genius, Theodore. There can he no douht about the cause. In anxious times, Australia felt that it needed a Government it could trust. Mr Scullin’s reinstatement of Theodore in the Federal Treasurership completely alienated public confidence and the country is thoroughly alarmed at Mr Lang’s excesses. THE NEW HOUSE PROBABLE COMPOSITION GOVERNMENT 56, OPPOSITION 19. SYDNEY, Last Night. Including probable results, with several seats yet in some doubt, the composition Of the new House of Representatives is estimated: GOVERNMENT SIDE United Australia 16 Country Party 16 Independent 2 Total 66. OPPOSITION Tederal Labour 13 Lang Labour 6 Total 19. Of the doubtful, two or three may finally turn out differently from present indications.

STOCK EXCHANGE REFLECTS POLITICAL TURNOVER A WAVE OP DEALINGS SYDNEY, Last Night. The Stock Exchange today reflected the political turnover in a renewed wave of dealings, prices rising markedly all round. Commonwealth Consolidated, Banking stocks and industrial securities all met an active market. Commonwealth short term fours rose 30/-, longer dates 27/6 and 30/-. The Bank of New South Wales shares rose 12/6. 1 The rises at first call proved rath* too steep. Some slight declines were noted atl soon. 1 Bonds investments maintained the appreciation. Insurance, gas andj steamship stocks were all firm. ntt? scuixnrs resignation MB LYONS SENT FOE MELBOURNE, Last Night. . Mr Scullin tendered his resignation! and advised the Governor-General to 1 summon Mr Lyons, who leaves Laun-1 ceston tomorrow for Canberra. FEDERAL LABOUR PAPER’S COMMENT Sydney Dec 21 The Sydney evening newspaper, ‘‘The World,” which is the organ of the Fed* eral Labour Party, comments on the •lection as follows; “Labour presented a policy which the people have rejected. They now •watt something, the nature of which has not yet oeen indicated. Mr Lyons will be unable to do effective service io the direction of creatine employment and of stimulating industry, unless be resorts to a radical amendment of the private banking system, which system Labour wishes to nationalise.*' “The whole world is at present groaning under the burden of the arv cbaic money and credit system. Labour has been defeated, on fictitious issues, but Labour will be recalled when the electorate realises its blunder.**

Scullin'* Resignation To Carry on Till After Xmas Reed 9 35 a.m Sydney, This day The Governor-General has asked Mr Scnllin io carry on until after Christmas. The actual date of bis resignation is not settled.

Lyons’s Victory Good Omen for Ottawa Conference QRecd 11 5 a.m London, Dec 21 Lyons's victory is considered a i good omen for the Ottawa Confer- ( ence, as Britain, Australia and New Zealand ail are assured long terms of Strbe Government. It is felt io official quarters that the prosnect of a far-reaching Empire agreement is now much greater, for Lyons’s aims coincide with those of Britain. While British official quarters liked Mr Scullin personally, they undoubt edly feel hapri- r in dealing with Lyons's Ministeis, because they know he will receive solid backing at home, whereas they might not feel su-e that Scullio’s unruly followers wou d always implement bis undertakings,