AUSTRALIAN MINISTER.

Taranaki Herald, Volume LXVIII, Issue 16761, 10 June 1920, Page 3

AUSTRALIAN MINISTER.

RESIGNS CABINET POSITION.

By Telegraph—Press Assn.—Copyright,

LONDON, Juno 8. Mr. W. A. Watt (the Australian Federal Treasurer who is now in London on a special finance mission), has resigned’ from the Commonwealth Cabinct, as telegrams exchanged since his arrival in England indicate ho is at variance with his colleagues on important issues connected with his mission. „ „ LONDON, June 9. Tlio newspapers give prominence to the report of Mr. Watt’s resignation from the Federal Ministry.

The Daily Chronicle describes it as a surprise, and adds: “Ho wanted to discuss with the Homo authorities_ certain , problems connected with emigration to Australia,’’.—Aus.-N.Z. Cablo Assn.

SUGGESTIONS FROM LONDON.

Received June 10 12.30 p.m.) LONDON, June 9,

It is rumoured that there is a possibility that Mr. AVatb is abandoning polit'cs for business. City circles greatly regret Mr. Watt’s resignation. Bankers, financiers and business men have been greatly impressed with him, both on tliis and his previous visit. ! hey consider it will he a serious loss to Australia if a man of such outstanding abilities retires from politics. General disapoointment is expressed that Mr. Watt has resigned before he has had m opportunity of expressing his views regarding Australia’s finances as lie intended to" do. The Australian Press Association learns that a high Anglo-Australhm authority suggests that the reason for his resignation may possibly be found in a disagreement concerning the- recovery of the Australian share of the Gorman indemnity. It is understood that the. Commonwealth wanted to liquidate Australia’s indebtedness to the Imperial Government by hypothecating Australia’s share of the German indemnity. The Imperial Government pointed out that Germany’s payments were probably indefinitely remote and insisted that Australia should shoulder her responsibilities irrespective of Germany. The informant suggested riiat Mr. AVatb assented to this' arrangement, but his colleagues dissented. Later, it is understood, a dispute arose oyer the woo! profits, Mr. Hughes desiring Mr. Watt to secure a modification in the agreement readied by_ Mr. Watt with the Imperial authorities.—-Aus.-N.Z. Cable Assn. (Received June 10, 10.50,a.m.) SYDNEY, June 10. Mr. Hughes, interviewed at AVagga, disclaimed all knowledge of Air. AVatt’s resignation or the reasons for it. The report of the newspapers fairly astounded him, as Air. Watt had even boasted of .the extended powers conferred on him. Mr. Hughes is awaiting official advice. .He added that tho news would not affect his country holiday. Several Ministers, interviewed, expressed surprise and astonishment. They are entirely in tho dark. Some quarters suggest friction between Air. Hughes and Mr. AVatt; other attribute .the action to the recent Federal salaries grab, over which there is much heartburning throughout Victoria.

Air. AVatt’s decision accentuates the Government’s difficulty, occasioned by the voiding of the Ballarat election.— Aus.-N.Z. Cable Assn.