WAR ON LANGISM.

New Zealand Herald, Volume LXIX, Issue 21146, 1 April 1932, Page 9

WAR ON LANGISM.

LYONS' CHALLENGE. FIGHT TO A FINISH. AUSTRALIA'S POSITION. HOPELESSNESS STRESSED. STATE DEBTS BEING PAID. l?y Telegraph—Press Association—Copyright. (Received March 31, 9.15 p.m.) SYDNEY, March 31. The Prime Minister, Mr. J. A. Lyons, in addressing tho first general convention of the United Australia Party in (he King's Hall, Sydney, said the Commonwealth Government was in conflict with the Government of New South Wales and would fight, it out to a finish. So long as Langism remained the position for Australia as a whole was hopeless. The principal business of the convention is tho adoption of a constitution. A message from Canberra states that provision lias been made by the Commonwealth Government to pay on behalf of Now South Wales about £900,000 foi' interest due. in London to-morrow and about £200,000 duo in New York. These amounts aro inclusive of exchange.

TREASURY BILLS. RENEWAL IN LONDON. REPAYMENT OF £250,000. (Received March 31, fi. 5 p.m.) LONDON, March 31. The Financial News savs it, understands that negotiations for a renewal of Australia's £4,500,000 of Treasury Bills have, been satisfactorily concluded, it is believed at a lower rate of interest. A further sum of £250,000 of the original amount will be repaid at maturity to-day.

STATE'S OBLIGATIONS. MORATORIUM SCHEME. BONDHOLDERS NOT WILLING. LONDON. March 30. The Agent-General for New South Wales, Mr. A. C. Willis, has cabled to the Premier, Mr. J. T. Lang, as follows: —"I have interviewed a number of representatives of largo holdings in New South Wales stocks. They will not negotiate for a moratorium owing to the acceptance of all liabilities by the Commonwealth. "I am strongly of the opinion that if the Commonwealth, together with the States, made representations with a view to a suspension of interest payments or a reduction of interest rates, an arrangement advantageous to Australia could be made."