Ten Million Loan for Unemployed

Manawatu Times, Volume LV, Issue 6834, 15 April 1932, Page 7

Ten Million Loan for Unemployed

Commonwealth’s Important Decision OPPOSITION TO INCREASE IN EXCHANGE RATE United Press Association. —By Electric Telegraph. —Copyright. Received Thursday, 9.40 p.m. MELBOURNE, April 14. The Commonwealth Government has decided to provide £10,000,000 for unemployed relief work. The Prime Minister (Mr. Lyons), in making the announcement at the Premiers’ Conference this afternoon, said the gravity of the position was revealed in the report of the experts’ committee. He appealed to all the Premiers to try to pull together and make rehabilitation.possible.

Bankers and businessmen condemn the suggestion that there should be an increase in the exchange rate on London. The bankers assert that such a course is not justified by the prevailing conditions. There is no abnormal demand for London money and no difficulty has been experienced in buying all that is required at current rates. Any advance in the rate would, they claim, considerably increase the taxation burden.

The present high rate has already reduced the import trade, while the effect on internal prices would be to increase the cost of living. Business men argue that the Commonwealth Bank, which is already handling the position satisfactorily, should be subjected to no political interference.

Paying Civil Servants’ Wages MR. LANG’S SHORTAGE OP CASH Received Thursday, 5.5 p.m. SYDNEY, April 14. The majority of the public servants in New South Wales received their pay to-day in bank notes taken from the State Treasury in largo bags under escort. The country school teachers, however, aro likely to wait until the end of next week before they receive theirs. Revenue which has been accumulating in country centres from license fees, land dues and other sources since the Commonwealth blockade will be drawn upon. State Treasury officials have been in close conference since Monday, trying to prepare a method of overcoming thenpresent difficulties and paying their staffs with a minimum of trouble and confusion. They preserve a discreet silence upon tho subject. The New South Wales Government has approached the High Court for an order directing the Bank of New South Wales and tho Commercial Banking Company of Sydney to repay all State money paid to the Commonwealth Bank under the Garnishee Act, and for an injunction restraining the banks’ officers from acting further without the consent of the State Government. Seeking a Dissolution DEFEATED VICTORIAN LABOUR GOVERNMENT Received Thursday, 10.30 p.m. MELBOURNE, April 14. The actiiig-Premier, Mr. Tunnecliffe, at the request of the Victorian Cabinet to-day, is seeking a dissolution of Parliament.

Granted ! deceived Thursday, 11.20 p.m. MELBOURNE, April 14. The Lieutenant-Governor, Sir William Irvine, has granted a dissolution of the Victorian Assembly, the election for ■which will he towards the end of May. Australian on High Road to Prosperity TRADE BALANCE WILL MORE THAN PAY INTEREST COMMITMENTS. CANBERRA, April 14. It is expected that in the present financial year Australia will have a favourable trade balance of not less than £36,000,000, which is £8,000,000 more than the annual interest commitments of Australia abroad. Statistics show that, for the eight months ended February 29th. exports from the Commonweal-til exceeded imports by £22,000,000. How Unemployment Belief , May Fair - ADMINISTRATION BY COMMONWEALTH. SYDNEY, April 14. The Telegraph says that, should the Federal Government be forced to attach the unemployment relief taxation, the unemployed will not lose any of their present benefits. It is reported that in such a case the Federal Government will administer the issuing of the dole and pa'y widows’ pensions. The Federal plans put an- end to Mr Lang’s obstructionist tactics under way. The Garnishee Act . SYDNEY, April 14. The Federal Government insist on the complete carrying out of the provisions of the Garnishee Act, under which the attack on New South Wales’ finances is being carried out. Jurors Go Without Pay SYDNEY, April 14. The jurors went unpaid at the Court sittings at Gouliburn and Maitland, since no money was available to pay them.