AUSTRALIAN FINANCES

Wanganui Chronicle, Volume 74, Issue 243, 14 October 1931, Page 7

AUSTRALIAN FINANCES

EF ECT OF PREMIERS’ PLAN BUDGET ESTIMATE REALISER CANBERRA, Oct. 13. Mr J. H. Scullin declared that if the Premiers’ Plan had not been carried out the Government would not have been able fully to meet its liabilities, and would have been compelled to adopt rationings The financial returns for the quarter indicate that the Budget estimate will be realised. Had the Premiers* Plan not bee- adopted the deficit for the quarter would have been al ut £6.0015.000 or £7.000.000. and for the w ear a deficit of £20,000,000. AUSTRALIA’S TRADE A BANK’S REVIEW MELBOURNE, Oct. 13. In its monthly review of the financial position of Australia, the National Bank of Australasia states that in the last month the internal trade position has shown no improvement. The uplift in prices since Gr at Britain departed from the gold standard hr ’ not yet affected any but the export industries. The report states: “It is hard to escape from ..he consequence of our past extravagance and borrowing, but it is felt that the increase in th? prices of wool and wheat could be made the basis for a return to prosperity. Seasonal conditions throughout Australia are almost uniformly good.”