CRISIS AHEAD

Manawatu Standard, Volume LIX, Issue 160, 8 June 1939, Page 9

CRISIS AHEAD

MENZIES GOVERNMENT. REG TSTR ATI ON BILL. WEALTH CENSUS PLAN. (United Press Association—By Electric Telegraph—Copyright.) Received June 8, 8.5 u.m. CANBERRA, June 7. The Men Hes Government is ao'ain facing- a crisis. The West Australian (Air Nairn) is submitting- an amendment to the National Iteg-istration Bill providing- for a wealth census. The Country Party is reported to be supporting- Air Nairn, who, with the aid of Labour, may cause the withdrawal of the Bill. Alternatively, it is stated, the combination may cause the resignation of the Alinistry who stoutly opposed a wealth census. Meanwhile, the Federal Treasury officials recently discovered evidence of the movement of capital on a substantia! scale from Australia for. reinvestment iii Britain. ’1 his is believed due to the recent sharp rise in the actual interest rate on Commonwealth giltedged securities in London which, at times, is more than 25 per cent, greater than the Australian rate. it is now believed that the London rates have been stabilised at a level sufficiently close to the Australian level fo eliminate the inducement tor further transfers.