REMEDIES PROPOSED

Poverty Bay Herald, Volume LV, Issue 17454, 31 December 1930, Page 7

REMEDIES PROPOSED

AUSTRALIAN CRISIS ADVISORY COUNCIL'S VIEWS Sydney; Dec! 30. The advisory council recently appointed at the representative •nieeting. of th® primary, commercfai* and business in-, terests has propounded a policy which it considers should be put into immediate effect in order to slave off the dangerous financial drift. Its chief recommendations-, comprise the suspension of awards, a revision oftho tariff, the removal ut restrictions on. tlie rate of exchange 16 -enable primary producers to acquire the fall benefit of their products, and, finally, » drastic revision of Government expenditure. The advisory council is arranging meet-' ings throughout the country to give producers an opportunity of making, a united demand along these lines. The Sydney Morning Herald point-s----oul that the increase in discount .for the latest issue, namely 5 per cent., unfortunately does not reflect an improvement in, Australian credit.. This rath l contrasts with £3 0s 2d per cent, as affecting a similar amount of bills at the end bf last August. The bills which the issue now suggested' will' replace were discounted in July at 4 per cent., making an effective rate of £4 17s per cent. ’ ....

FULLY SUBSCRIBED TREASURY BILLS ISSUE ... •' - --••• , / i (Received Dec. 31,11 a.m.) LONDON, Dec* 30, The Commonwealth Treasury 3)ills ‘for £5.000,000 have bogn. fully -subscribed. " • ..■ . ■