LOAN FOR UNEMPLOYED.
MR. SCULLIN SEEKS £5,000,000. REQUEST MADE TO BANKS. (Received September 29, 7.45 p.m.) SYDNEY, Sept. 29. A special meeting of the Commonwealth Bank Board is discussing a renewed request from the Prime Minister, Mr. J. H. Scullin, for a lofn of £5/000,000 to relieve unemployment. Commenting on the request Mr. James Kidd, chairman of the Producers' Advisory Council, says it is merely an evasion of the necessity for reducing the costs of industry, both primary and secondary. To ask flm banks to advance £5.000,000 at, a time when their resources are strictly limited, and when industry will require more assistance than is obtainable, is nilwise. If costs come down New South Wales will have a similar experience to that of Queensland, where since the partial suspension of arbitration there has been a gradual absorption of the unemployed.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20991, 30 September 1931, Page 9
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140LOAN FOR UNEMPLOYED. New Zealand Herald, Volume LXVIII, Issue 20991, 30 September 1931, Page 9
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