FAVOURABLE BALAHOE

Taranaki Daily News, 30 April 1931, Page 7

FAVOURABLE BALAHOE

THE TRADE OF AUSTRALIA

ECONOMIES BY GOVERNMENT HOPE FOR BETTER PRICES RUIN ONLY ALTERNATIVE By Telegraph—Press Assn.—Copyright. Adelaide, April 29. Addressing a meeting of business people, Mr. E. G. Theodore, Federal Treasurer, said the year before the Federal Government came to office imports totalled £153,00'0,000, but this year they aggregated £72,000,000. Exports this year would reach £81,000,000, leaving a favourable- trade balance of £17,000,000. He claimed that the Government had effected economies in administration since corning into office totalling £4,000,000. It Was proposed to introduce legislation on the basis of the values of imports in Australian currency. He said if the causes of the depression continued indefinitely Australia was going inevitably to utter ruin, but a reliable opinion had been expressed that the bottom of the depression had been touched and there would be an improvement in prices for the Commonwealth’s products.

NEW SOUTH WALES DEFAULT. STATE DEBT TO COMMONWEALTH Canberra, April 29. The New : South Wales interest default of £1,500,000 applies to private bondholders in London and New York The sum of £38,000, which was all the State was able to find, was to meet the interest due on certain debentures owned by the Commonwealth Bank, Mr. Scullin says that a statement of the amount owing by New South Wales to the Commonwealth, up to and including May 1, after off-setting payments due from the Commonwealth to the State, shows that the latter’s indebtedness to the Federal Treasury is £1,590,084.