FEDERAL GOVERNMENT
FACING ANOTHER CRISIS A CENSUS OF WEALTH CANBERRA, June 7. (Received June 8, at 1.15 a.m.) The Menzies Government is again facing a crisis as the result of Mr W. M. Nairn, of Western Australia, submitting an amendment to the National Registration Bill providing for a census of wealth. The Country Party is reported to be supporting Mr Nairn, who, with the aid of Labour, may cause withdrawal of the Bill, or alternatively the resignation of the Ministry, which is stoutly opposed to a census of wealth. Federal Treasury officials recently discovered evidence of a movement of capital on a substantial scale from "Australia for reinvestment in Britain. This is believed to be due to a recent sharp rise in the actual interest rate on Commonwealth gilt-edged securities in London, which is at times more than 25 per cent, greater than the Australian rate. It is now believed that the London rates have been stabilised at a level sufficiently close to the Australian level to eliminate inducement for further transfers.
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Otago Daily Times, Issue 23829, 8 June 1939, Page 11
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172FEDERAL GOVERNMENT Otago Daily Times, Issue 23829, 8 June 1939, Page 11
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