“WILL SAVE AUSTRALIA”
Agreement by the premiers * ” REPUDIATION WOULD MEAN By Telegraph—Press Assn. —Copyright. Sydney, Sept; 27. The Premier, Mr. T. R. Bavin, declared to-day that if the Melbourne Premiers’ conference agreement to balance the Budget was repudiated by NewSouth Wales the financial and economic results would bo a national disaster. Those who retained employment in the event of such a disaster would have to acc.ept a heavy reduction in salaries and wages. ; All the Governments were agreed that unless this agreement were adopted it would be impossible for the Federal Government to find money in Australia to meet its obligations, even for salaries and wages, within a very short time. The making of this agreement, therefore, saved Australia from a crisis which all the Premiers admitted was imminent. If that crisis happened nothing was more certain than that there would have been immediate chaos, not only in Government finance, l?ut in private industries. The result .would have been a financial panic and for every one man unemployed to-day there would have been 10 or 20.
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Taranaki Daily News, 29 September 1930, Page 7
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176“WILL SAVE AUSTRALIA” Taranaki Daily News, 29 September 1930, Page 7
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