A SANE GOVERNMENT.

New Zealand Herald, Volume LXVIII, Issue 20846, 13 April 1931, Page 9

A SANE GOVERNMENT.

NEED OF AUSTRALIA.

MR. LYONS AS LEADER.

WILLING TO ACCEPT TASK.

SUPPORT OF PEOPLE SOUGHT.

By Telegraph—Press Association—Copyright

(Received April 12, 5.5 p.m.) MELBOURNE, April 12.

Mr. J. A. Lyons, speaking at Ballamt. said he was not afraid that the people of Australia would adopt Mr. J. T. Lang's repudiation plan, but he feared that they might be tempted to subscribe to the inflation issue of the Federal Government, which was an indirect form of repudiation. Australia's wealth was largely bound up in her primary products, and everything must be done to encourage the primary producer, who was the hardest worked and poorest paid man in the country. Addressing a gathering of business men at Adelaido, Mr. Lyons said ho was prepared to lead a new Government in which all forces opposed to Mr. Scullin's and Mr. Theodore's policy would be united for the common purpose of the rehabilitation of the Commonwealth. He was delighted to hear that this co-ordination was going on so famously, and .also that such an awakening was occurring among the people, who were desirous of sane government. Mr. Lyons said he and his colleagues were prepared to repair the damage by applying business principles in the conduct of the nation's affairs, and by giving the utmost encouragement to private enterprise and industry.

CLAIM AGAINST STATE.

WRIT BY COMMONWEALTH.

OVERSEA INTEREST PAID

(Received April 12, 5.5 p.m.)

SYDNEY, April 12

The Sydney Morning Herald says a writ, to recover about £600,000 from the Government of New South Wales, is to bo issued out of the High Court, on the application of the Federal Solicitor-Gen-eral. The amount represents the commitments to oversea bondholders which were met by the Commonwealth on behalf of the State.

The Federal Crown Law officers are working out details of the claim. The writ will be issued on Monday, as certain adjustments have to be made in the accounts between tho State and tho Federal departments. It is uncertain whether the claim will bo for £600,000 or £700,000.

TREASURY BILLS.

FEDERAL AND STATE ISSUES.

BANK CALLS A HALT.

SYDNEY. April 11. The Commonwealth Bank has sent an ultimatum to tho Federal and the State Governments, to the effect that there must bo a limit'to the issue of Treasury bills, which had increased by £2,200,000 in Australia, bringing the total to £8,400,000.

REVENUES EXCEEDED.

THREE AUSTRALIAN STATES

NEW SOUTH WALES RETURNS

SYDNEY. April 11

For the first nine months of the present financial year the expenditure of Now South Wales exceeded the revenue by £7,270,883. The revenue amounted to £30,405,545, a decrease of £2,750,377 compared with the corresponding period of last year. The expenditure totalled £37,676,428 net a decrease of £2,605,501. In Western Australia the shortage for the nine months amounted to £1,377,930. In South Australia the excess of expenditure over revenue was £1,959,412.