AUSTRALIAN CRISIS

Otago Daily Times, Issue 21146, 2 October 1930, Page 9

AUSTRALIAN CRISIS

THE PROBLEM OF FINANCE SIR OTTO NIEHEYER’S VISIT. ACTING MINISTER’S CRITICISM. (United Press Association.) (By Electric Telegraph—Copyright.) ■ SYDNEY, October 1. The Acting Minister of Industry (Mr Beasley), speaking at the Glebe Town Hall, attacked Sir Otto Niemeyer, who, he, said, had exceeded the courtesies Australia had extended to him by interfering in her domestic affairs. The' time had come to denounce him and the conditions that he was trying to impose on the Commonwealth, making self-government a farce and Parliament an out-lived institution. Mr Beasley indicated that the attempt to balance the Budget would be abandoned temporarily. He promised em-' phatlcally that no Cabinet action would be taken to reduce salaries or pensions. It is simultaneously reported from Melbourne that the Federal Ministry will submit to the caucus for endorsement its proposals for a reduction of salaries of the Commonwealth Ministers by 15 per cent., parliamentary salaries by 10 per cent., a redaction of salaries of Federal public servants on a graduated scale ranging from 2} to 12} per cent., new i .xation increases on all incomes which are not derived from personal exertion, increased probate and succession duties. Increased excise duties, and a revision of the sales tax to exclude many of the existing exemptions. DRAFTS ON DOMINION BANKS. STRANGE NEWSPAPER STORY. SYDNEY, October 1. The Guardian publishes a strange jtory that information has reached Sydney that the New Zealand banks in future will not accept drafts drawn on Sydney firms. The ordinary trade drafts are not affected. Inquiry disclosed that owing ta the outflow of funds to New Zealand as a result of nervousness owing to the talk in certain circles of repudiation, the- banks are moving to prevent the transfer r>f funds, for which there is ho justification. Their action will in no way embarrass the trade relations between Australia and the Dominion. » No intimation of any kind bearing out the above statement has been received - in banking circles in Dunedin. VICTORIA’S BUDGET. THE TAXATION PROPOSALS.. MELBOURNE, October 1. The Leader of the Opposition in the Victorian Assembly gave notice of a motion r no-confidence in the Government folk ~ig dissatisfaction with the proposals for increased taxation contained in the Budget. ; THE- SALES TAX RETURN. GOVERNMENT DISAPPOINTED. SYDNEY, October 1. (Received Oct 1, at 10 p.m.) The sales tax return for September, which Is the first, full month in which this form of taxation has been in operation, reveals that whereas the ment anticipated £500,000 the actual revenue is only £280,476. FEDERAL REVENUE RETURNS. DEFICIENCY FOR THREE MONTHS. CANBERRA, October 1. (Received Oct. 2, at l a,m.) The Federal revenue returns for the first three months of the financial year already disclose a deficienev of £3,000,000, causing the Ministry the greatest concern. ' The loss of Customs revenue is practically at the rate of £10,000,000 per year, and the postal revenue is £421,686 below the estimate.