N.S.W. FINANCE.

Manawatu Standard, Volume LI, Issue 207, 3 August 1931, Page 7

N.S.W. FINANCE.

STATE SAVINGS BANK. ELIMINATION OF POLITICAL CONTROL. x SYDNEY, Aug. 2. It is understood that Mr Lang is preparing a Bill for the reopening of the State Savings Bank under trustees; political control is to be eliminated. Financial backing will be required, and this will probably be discussed at a Loan Council meeting in the coming week. INTEREST PAYMENTS. MET BY FEDERAL GOVERNMENT. CANBERRA, Aug. 2. The Federal Government has arranged to meet interest payments totalling £632,000 due in London and New York by the New South Wales Government at the end of July. The Prime Minister, Mr Scullin, found that the Commonwealth Bank was not prepared to make the necessaiy advance to New South Wales, so he agreed to meet the liability. New South Wales is asked to refund the amount as soon as funds are available. SIR PHILIP GAME’S POSITION.

DEMAND FOR RECALL? LONDON, Aug. 1. A demand for the recall of Sir Phil- - Governor of-New South Wales, is contained in a communication received by Mr J. H. Thomas, Secretary of the Dominions, from Mr J. T.Lang, Premier of New South Wales, states the Evening Standard’s Lobby correspondent. It is stated that Mr Thomas has declined to take any action. Sir Philip Game was appointed Governor of New South Wales last year. Mr Lang’s particular objection to Sir Philip is that he refuses to swamp the New South Wales Upper Chamber with sufficient Lang nominees to ensure the passage of certain financial proposals. REPORT DENIED. "SYDNEY, Aug. 2. Mr Lang denies the report from London that he requested Sir Philip Game’s recall. TEMPORARY FEDERAL FINANtS. TREASURY BILLS ISSUED. CANBERRA, Aug. 2. Treasury bills worth £21,720,000 have been issued to cover temporary Government finance which matured on Friday. Mr Scullin announces that the Commonwealth and trading banks renewed the bills at 4 per cent, instead of 6 per cent. The interest payment has thus been reduced by £424,000 per annum.