Treading the Hard Road

Manawatu Times, Volume LIV, Issue 6624, 10 August 1931, Page 7

Treading the Hard Road

NEW SOUTH WALES PASSES SALAEIES REDUCTION BILL. SYDNEY, Aug. 8. The revised Public Service Salaries Bill has been passed through both Houses of Parliament. The anticipated annual saving will be £1,300,000. The wages tax of a shilling in the pound will be additional to the reductions. It is now expected that money will be available next week to pay civil servants’ salaries. Four States in Line VICTOEIA AND N.S.W. MISSING. MELBOURNE, Aug. 8.

The Loan Council, in a statement, points out that the Commonwealth Government has passed the necessary legislation to give effect to the economics plan adopted by the Premiers’ Conference and also for converting loans. Queensland, South Australia and Tasmania have also passed the necessary legislation and it is expected that the West Australian Bills will be passed today. Be-openiag tbe Bank BUSINESSMEN AS TRUSTEES. SYDNEY, Aug. 8.

The Telegraph says it is hoped to re-open the Government Savings Bank

on August 17th. Tho Expert Committee’s scheme has been handed to the Parliamentary draughtsmen and the work will be expedited in that Department so that the necessary legislation will be ready for Parliament next week. Six leading businessmen may act as •Trustees.

Westralian Farmers’ Burden OWE THIETY-ONE MILLIONS. PERTH, Aug. 8. The Farmers’ Debts Adjustment Commission has reported that the estimated liabilities of 20,500 farmers aro about thirty-one million pounds, not inclusive of amounts owing to stock and station agents, private mortgagees, doctors, and tradespeople other than country storekeepers.

Interest Reduced One Per Cent

MELBOURNE, Aug. 8,

Addressing the shareholders of the Commercial Bank of Australia, Mr John Webb, chairman of dimeters, announced a reduction of interest of one per cent, from October Ist, and referred to Victorian Government’s previous threat to compel the banks to do this. Mr Webb said legislative interference might so hamper the banks that it would be impossible to further help the Governments, while the arbitrary fixation of the rate , " interest would possibly make money dearer or force further capital from the country.