Mr Lang Facing a Crisis

Manawatu Times, Volume LV, Issue 6841, 23 April 1932, Page 5

Mr Lang Facing a Crisis

High Court Refuses Both Applications

NO ENDOWMENT PAYMENTS BEING MADE

United Press Association. —By Electric Telegraph. —Copyright. Received Friday, 7.30 p.m. ■SYDNEY, April 22. The High Court refused both of Mr. J, T. Lang's applications in connection with the validity of the Financial Agreements Enforcement Act. Only Mr. Justice Evatt favoured tho New South Wales Government’s application for leave to appeal to the Privy Council against the High Court’s decision that the Financial Agreements Enforcement Act was valid. On the application to restrain the banks from paying State moneys to the Commonwealth, the Chief Justice (Sir Cavan Duffv) and Mr. Justico Evatt favoured upholding it, but Justices Starke, Rich, Dixon and MeTiernan opposed it. The High Court’s refusal to order the restoration of banking facilities for the State Government brings the Lang Administration face to face with an immediate crisis, as the Governor may ask the Premier to carry out tho provisions of the Audit Act. Mr. Lang may ask that the position be left as it is until he can consult Parliament next week. In the meantime no endowment payments are being made, and there is a possibility that the department may be closed, affecting 450 permanent and temporary employees.

State Government to Pay Court Costs

Received Friday, 10.45 p.m. SYDNEY, April 22,

Tho High Court ordered the State Government to pay the costs of Mr Lang’s applications.

Dissolution of Victorian Legislative Assembly

GOVERNMENT’S POLICY TO MEET ALL LIABILITIES

Received Friday, 11.30 p.m. MELBOURNE, April 22. Tho Victorian Legislative Assembly dissolved to-day. The Acting-Preimcr (Mr. Tunnicliffe) reiterated that the Government’s policy was to meet its liabilities to the fullest, commensurate with tho resources of the State, but it was the Government’s definite determination to avoid furtner impoverishment of the people. Tho Prime Minister, commenting on tho High Court decision, said the Federal Government was now pushing ahead with its policy of compelling Mr. Lang to meet his obligations.

No Interference With Bank Board’s Function

STATEMENT BY MR LATHAM

LONDON, April 21. Mr. J. G. Latham, the Commonwealth Minister, has issued a statement to tho Press wherein ho cites Mr. J. A. Lyons’ declaration that tho Australian exchange would not be varied Ik • political reasons; also Sir Robert Gibson’s announcement on tho subject. Mr. Latham adds that theso (statements make it clear that tne Commonwealth Government has no intention of interfering with the Commonwealth Bank Board’s function of determining the exchange rate in tho interests of the community generally. Mr. Latham was given an audience 'by His Majesty, and afterwards had luncheon with Their Majesties.

Exchange Alterations Reported.

Received Friday, 11.30 p.m. SYDNEY", April 22. The Commonwealth Bank reports no alteration in tho rate of buying telegraphic transfers, Australia on London, but there are changes in ail usances from on demand to 120 days, ranging from .1/3 to 6/3 for buying rates and from 1/3 to 3/9 for selling.