TALK OF CENSURE MOTION.

Timaru Herald, Volume CXXXIV, Issue 18818, 5 March 1931, Page 9

TALK OF CENSURE MOTION.

Difficult Days in Australia. NATIONALISTS TO CHALLENGE LABOUR. United Press Association—By ‘Electric Telegraph—Copyright CANBERRA, March 4. The Nationalists decided to launch a censure motion on the Government in a comprehensive indictment of Labour’s policy during the past 17 months, and make the Theodore issue subsidiary to the main attack. Mr McGrath has so far failed to tender his res'gnation as chairman of Committees. Challenge to Mr Lang. Five members of the “Lang faction”, have left Canberra, and will not return until after the East Sydney byelection. It is stated that Mr Scullin refused to send a message of encouragement to the Labour candidate. Mr Theodore has issued a statement condemning Mr Lang’s policy. “Apart from the ethical question Involved in the voluntary and deliberate act of repudiation by the Government, it has been pointed out that Mr Lang’s policy can accomplish nothing towards relieving distressed workers, or prevent? immediate relief being granted to d stressed wheat growers. His refusal to meet interest payments will prevent his Government obtaining any further loan money from any source. A deliberate, voluntary default will result in a financial panic, and probably a run on the New South Wales Government Savings Bank, wh : ch will be unable to meet all demands unless the Commonwealth Bank comes to the rescue.” Mr Theodore added that if the Commonwealth Government’s plan had been supported by the whole Labour movement and the State Labour Governments, its success would have been assured. RECEPTION OF NEW MINISTRY. STOCK EXCHANGE MOVEMENT. United Press Association—By Electrlo Telegraph—Copyright LOONDON, March 3. The latest polit cal development in Australia produced a good effect on the Stock Exchange. All stocks hardened and dealings were recorded: Commonwealth 5 per cent, ranging from £7l 10s to £73 15s, 6 per cent. £BO 10s to £B3; Victorian 35 per cent. £54; 55 per cent. £7l 10s to £73; 5 per cent. £6B; 42 per cent £65; New South Wales, 3 per cent £66 ss; 3* per cent. £52 to £54; 52 per cent. £B2 to £B4; 65 per cent. £76; Queensland 5 per cent. £66; South Australian 65 per cent. £7B; Tasmanian 65 per cent £7O; West Australian, 6 per cent £Bl. COMING TO GRIPS. BANKS’ ULTIMATUM TO FEDERAL TREASURER. United Press Association—By Electrlo Tel egraph—Copyright (Received March 4, 9.40 p.m.) MELBOURNE, March 4. The chairman of the Associated Banks (Mr C.( H. Trenton) announces the Federal Government’s financial plan is a definite form of inflation, and the Federal Treasurer cannot look to the banks for support. FEDERAL PARLIAMENT MEETS. United Press Association—By Electrlo Telegraph—Copyright (Received March 4, 9.30 p.m.) MELBOURNE, March 4. The House of Representatives reassembled at Canberra to-day. Messrs Anstey, Beasley, Fenton, and Guy were among the absentees. The proceedings were brief. Resolutions of sympathy were carried m silence following the death of the Princess Royal, Dame Melba, and the late Mr John West (Member for East Sydney). Feeling reference was also made to the New Zealand earthquake. The House adjourned till to-morrow. MR LANG’S BOLD PLAN. SYDNEY NEWSPAPER ALLEGES DEFAULT. United Press Association—By Electric Telegraph—Copyright (Received March 4, 9.40 p.m.) SYDNEY, March 4. In the Legislative Assembly the Premier, replying to a question said that legislation would be introduced as soon as possible to reduce interest rates. The necessary Bills were now being drafted. Mr Lang added that cheap interest is desired by everybody. High interest is regarded as the curse of the community Has N.S.W. Defaulted? The “Sun” newspaper says that the Lang Government is most seriously embarrassed financially. The paper discloses that £682,000 due to the State Savings Bank, as interest, is unpaid, and the Commissioners of the Bank have written to Mr Lang saying they would appreciate payment. MR THEODORE IN DISFAVOUR. PROPOSED EXPULSION FROM MOVEMENT. United Press Association—By Eleotrlo Telegraph— Copyright (Received March 5 1.5 a.m.) SYDNEY, March 4. Mr E. G. Theodore's condemnation of Mr Lang’s policy so annoyed the State Labour Executive that it has given instructions to the Dailey Labour Council, which endorsed Mr Theodore’s candidature, to expel him from the movement on the ground of disloyalty.