AUSTRALIAN CRISIS

Manawatu Standard, Volume LI, Issue 197, 22 July 1931, Page 7

AUSTRALIAN CRISIS

POSITION OF N.S.W. GUARANTEES SOUGHT BY MR SCULLIN. BACKING OF OTHER STATES. (United Press Association —By Electric Telegraph.—Copyright.) Received July 22, 9.20 a.m. SYDNEY, July 22. Tlie Sydney Morning Herald says: “It is probable that the State Cabinet will give an undertaking that Nei\ South Wales will rejoin the Loan Council and also give a guarantee that the State will assume responsibility for payment of the oversea interest. Cabinet Ministers generally express the view that the guarantees sought by Mr J. H. Scullin should be given.” The Telegraph says: “It is significant that statements indicating the stringent conditions to which at least four of the States require Mr J. T. Lang to submit before his request for cash assistance will be considered were made yesterday in Adelaide. Cabinet decided to stand solidly hehind Mr Scullin in his attitude toward Mr Lang.” The Premier of Victoria, Mr E. J. Hogan, said in the Legislative Assembly, amid cheers, that unless the New South Wales Government accepts its shares of the responsibility its request for Loan Council assistance cannot be entertained. The (governments of Queensland and West Australia have joined in' the opposition to granting further assistance to Mr Lang.

AUSTRALIAN ECONOMICS.

A WARNING TO BRITAIN

Announcing his resignation recently from the Liberal. Party owing to its support of the Government, Lord Stanley. of Alderley says: “I have followed for 10 years the economic history or Australia, where disregard for economic laws has resulted m financial chaos. I see sufficient points of similarity with Britain to fill me .with apprehension. I fear that the economics of the British Labour Party will have the same results as the Australian Labour Party’s economics have produced.