"BUSINESS AS USUAL"

Poverty Bay Herald, Volume LV, Issue 17401, 28 October 1930, Page 7

"BUSINESS AS USUAL"

N.S.W. ELECTION RESULTS LABOR'S MAJORITY INCREASED MUCH POLITICAL ACTIVITY (Elec. Tel. Copyright—United Press Assn.) SYDNEY, Oct. 27. Cabinet met and discussed the political situation to-day. • It was stated that Mr. Bavin "would tender his resignation later in the week, The Governor will then summon Mr. Lang to form a Ministry.

, Union . circles are busy discussing the new Government's policy. It is stated that one of Mr. Lang's first moves will be to swamp the. Legislative Council with prominent Labor supporters, with a view to .the abolition of that chamber, which the partyis pledged to secure, 'as the • Upper House at present has more member's than the Assembly.

Other circles suggest that the Governor may demur to increasing the number sufficient for Mr. Lang's purpose.

The latest figures indicate that W. .1. Ratcliffe (Labor) will .gain the Barwon seat, and A. 'Landn '{Labor) the Bondi seat. W. ijedgos (Country Party) will retain the Monaro' seat. ■•• In the six.still doubtful seats the leaders are:—ln' Ashburhani,' T." \V. Iveast; Dubbo, A. MeLelland; Murray, .1. Donovan; Yasrf, W-.--M. Webster; Young, C. Martin (all these are Luboritos. Sir Thomas -Henley (Nutjou.'ilist)is expected tci;fetain the Bur Wood seat. ."',*-".', .'"'.." .

Of 1,195,802 votes counted, Labor [lolled 663,766 and the Nationalist Parry 4S-1,221. The Temora seat, which was at first doubtful, it now appears, is retained by H. Main of the Country Party. The Casino seat, which was credited yesterday to E...L. ■Vincent for the ( ountry Party, is now uncertain, though it is sure to be retained by one of the .same partv's five-candidates, probably .). T. Re;d.. The present state of the parties is: Labor .. .. .. 51 Nationalist .. .. 21 Country Party :. .. 12 Doubtful *'".'. .. 6 ■ : LABOR PRESS JUBILANT The official Labor organ, the "Labor Daily, displays on the front page several headings, some of which are: J"We" Smash ,Calamity-Howlers! " "State Again Saves Commonwealth! " "People Decisively Reject Niemever! "

In its . editorial, the paper says: ''The terrible .nightmare of Bavinism ha.s.been removed from the.land. Np Government elected under our wide franchise has'so flagrantly abused the [lowers . bestowed upon it by a free people as did the Bavin Government. livery step was purposely designed to strike at the workers. The heavy clouds of misery and despotism have given place to a brighter horizon. There will be very few mourners at the Government's obsequies. Mr. Lang assumes the Premiership with the largest following with which any Australian Labor loader ever faced Parliament. Doubtless, other Austarlian Premiers will profit by Saturday's overwhelming Labor victory." The Sydney Sun, in an editorial, says: "The people of New South Wales have asked for a promised orange instead of a promised pill. It now,remains for Mr. Lang to deliver the orange. • As a change of party is no solution of a State's distemper,! it is the duty of all citizens to assist Mr. Lang to give us that brighter future he promised. Our motto must be 'Business as usual.'"

SIR 0. NIEMEYER'S POSITION

Sir Otto Niemeyer had a long interview to-day with the chairman and Governor of the Commonwealth Bank, the outcome of which is not disclosed,

Replying to the criticism of Mr. Lang and his supporters during the election campaign, Sir Otto Niemeyer to-night said that he came to Australia at the invitation of the Commonwealth Government purely as the representative of the Bank of England, and such advice as he had given was based on 25 years' experience of public finance. ' The agreement reached at the Melbourne conference in August, was.theirs, not his. It was they who published it, not he. "I neither said nor implied," he continued, "that Australia must be a hewer of wood and a drawer of water for other countries, but I have said that Australian manufactured goods are unlikely to play an effective part in her export trade for a considerable period." He added: "There never has been any question of the Bank of England taking over Australia's overdrafts in London, and never will be. The obvious problem is how to deal with those overdrafts and short-dated debts .by issues in the market. The Bank of England has no interest in Australian finance other than a desire to help in . averting a serious financial crisis." FEDERAL CABINET MEETS Meetings of the Federal Cabinet, also of the caucus, began to-day with the strictest secrecy. The New South Wales members attacked the other members of Cabinet. . for associating themselves with the Melbourne agreement. The caucus passed a resolution rejecting the tariff and industrial policy propounded by Sir Otto Nioincyor at the Melbourne conference, which was described as unwarranted interference with the domestic affairs of the Commonwealth. Sir hundred miners at Aberdare mine at Cessnock decided not to work to-day in order to celebrate the Labor victory. It is only a few weeks ago since InO men were retrenched at this mine owing to slackness of trade. The election excitement is reflected on the. Stock Exchange by lower quotations. There is, however, an absence of anvthing in the nature of panic selling',, while at the lower rates there was fairlv good buying. ' The market towards'the close showed signs of steadiness. Operations generally were, characterised by the greatest caution. Government loans were neglected, and .the Australian Bank of Commerce, Bank of New South Wales and the National Bank suffered heavy reverses. The Bank of New Zealand'achieved the solitary gain of the day with a rise of Pd,'which is'an indication or' the regard held hero for New Zealand securities.