14 Aug 1931
Page 1
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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Aug 14, 1931
Page
1
The cabinet sub-committee met to consider economy measures for balancing the British budget. Irvis says ministers are unanimous and will decide general directions for economies. The Australian conversion loan’s success is noted with Britain favoring a similar approach.
London reports a cabinet sub-committee chaired by top ministers held a four hour session to outline economy proposals for the next budget. It denied rifts among ministers over balancing the British budget while noting Australia has begun a broader readjustment of public finance.
A Public Health Commission bulletin reports that over half of Australia’s 500,000 residents are at risk of dying from cancer if current mortality rates persist. It notes cancer deaths rose from 1 in 92 in 1900 to 1 in 10 by 1920 and remain near that level.
Sydney news reports the Legislative Council insists on amendments to the Insurance Deposits Bill, seeking that deposits be hedged in securition rather than cash. Government will resist the amendments while arguing the council’s reasons aim to protect policyholders and ensure state and Commonwealth guarantees. The dispute risks delaying passage ahead of Assembly votes.
Severe flood in Renmark forces rapid emergency response as main bank fails. Hundreds of volunteers raise earth walls to shield the main town area while the southern sector remains inundated. Homes are evacuated and the hospital area is secured though danger persists. Water spreads rapidly with an unknown number displaced. The city braces for further flooding.
Melbourne reports the Commonwealth Bank conversion totals now at £200 000 000 with completed shifts to £37 733 320 among 3 484 holders. Victoria's State Savings Bank plans to convert its £27 000 000 securities into the new issue. Notable holdings include New Zealand Insurance Co £434 200 Victorian Boy Scouts Association £12 600 South Australian Superannuation Fund £126 207 and South Australian Public Service Superannuation Fund £69 000.
Reports in official circles say a major financial union tied to a London entity may provide cash backing to re open the Government Banking Bank. Sydney authorities doubt external support will be needed and three prominent Sydney businessmen are to serve as trustees for the re constructed bank.
A measure to reopen the Government Savings Bank will be introduced in the Legislative Assembly next Tuesday. The bill sets up seven trustees free from political influence to run the bank and secure financing to reestablish it. Depositors may withdraw without depleting the bank, and the new bank will be separate from old accounts. Mr Laing arrives from Melbourne to handle the bill.
Australia debates gold retention as a policy to keep bullion within the nation. Scott of the authority argues gold abroad is depositor property and should fund local finance. Proposal calls for Commonwealth Bank to serve as a central reserve bank.
Promoter Dickeon has arranged a world title bout between Berg and an American challenger at the White City Stadium on October 14. Promoter guarantees of 12,000 are reported for the event.
Treasury officials will meet August 29 to prepare statements for the conference. The South Australian Premier Hill says he will push for a Commonwealth-wide wheat pool when the meeting assembles. Mr Hill notes broad ministerial support except for Sir James Mitchell. Mr Ali Snileated says the flour tax proposal may be revived later.
The Federated Engine Drivers and Firemen's Association filed in Arbitration Court to restore the ten percent emergency wage reduction for Colonial Sugar Refining Company workers. The association's general secretary H C Gibson cited a reported annual net profit of £940,080, 16 4 percent on nominal capital, and 6 24 percent on subscribed capital, arguing the sacrifice has not helped Australia’s economy. Other unions may join in seeking restoration.
Mr Scullin expressed pleasure with the progress of the conversion loan in Melbourne. He said there seemed to be no doubt it would be one of the biggest financial achievements in Australia’s history.
The Local Government Association today moves to apply to the Conciliation Commissioner for salary reductions of local government officers under the salary reduction act. A sub-committee report recommended shifting administration of numerous government acts to county councils, citing weak local government sentiment in Australia.
Lisbon reports a claim that a complete 9000 year old skull has been unearthed at Batranidura, with scientists estimating the age of the man. Brisbane notes during a conference, Mr Scullin discussed possible 10 percent Commonwealth super tax and mortgage interest reductions. The question will be revisited when tax and fiscal policy are reintroduced next year.
Robert Donald a 24 year old courier and sole cashier at the Radnor Park branch of the Clydesdale Bank in Glasgow was found beaten to death with a hammer. A sum of £2000 was missing and £400 in ten shilling notes lay on the counter. Police suspect multiple assailants as the bank was closed at the time.
The adjournment has allowed a general spring cleaning at Parliament House. A large staff is engaged in polishing and wax work in Kings Hall. The effort provides employment for permanent staff in the Parliamentary Refreshment Rooms who would otherwise be paid full wages for little work.
The Legislative Assembly heard Minister Baddeley outline a bill to require country of origin labeling for goods and to penalize false descriptions and Royal warrants. He noted the measure would extend beyond foodstuffs to manufactured items to curb imports and protect local workers.
Negotiations open with the Federal Capital Administration for tenancy of the Duntroon home formerly used by the Commandant of the Royal Military College. E T Crutchley plans to move his household from Hotel Canberra to the Duntroon residence as the British Government weighs options due to Canberra House’s small size.
In Melbourne, churches in the north western area fear closure as low mood and severe drought strain finances. Assistance demands rise as congregations seek emergency funds to keep services running.
Adelaide reports pilot H Broadbent plans a seven day circumnavigation of Australia after completing a Brisbane to Adelaide flight in one day yesterday. He intends to attempt the round Australia flight soon with a record pace and implied route.
British papers debate an Australian conversion loan with emphasis on voluntary responses. The Financial Times rejects compulsory conversion and suggests a patriotic appeal. The Financial News notes large voluntary support and highlights Britain's parallel stance.
A conference of regional groups including Riverina Western Mon... South Coast and New England agreed on a plan for a united country movement. They noted endorsement by associated bodies would be needed but expected no major hurdles as ideals align across factions.
The Times asserts the government backed a 20 percent reduction plan at the Premera Conference to force sacrifices across society. It says only decisive government action can ensure successful conversion and that Beullin’s position has grown weaker in the past six months as retrenchment efforts proceed.
In London, the invention by Mr E. T. Fisk of Amalgamated Wireless seeks to remove street noises from buildings. Professor A. M. Bow conducted three weeks of investigation and reports the device shows potential for commercial viability, with sound values around 20.
The Australian airmen Hinkler and Gatty met Me Gow of the Australian Office today to discuss plans. Hinkler said details are not ready for disclosure but expects to be involved before year end, and Gatty hopes to visit home as well.
A brief note outlines an English schoolboy group of 36 preparing to travel to Canberra in September for a two day program at the Australian capital. The trip aims to engage with government and educational officials.
A London report notes Mr Lloyd George shows continued improvement after illness. Officials say he may relocate to the countryside within a fortnight to recuperate away from the capital.
The Sydney cabinet approves the Local Government Act to free churches and training colleges and clergymen from obligations, removing rate duties and related charges. The move signals a broad exemption scope under the act.
The Loan Council approved an advance of 1 810 000 pounds to the New South Wales Government for August requirements. Of the sum 1 400 000 pounds would cover revenue deficit and 360 000 pounds would fund loan works. Unavailability of the full loan could delay the works programme and postpone projects including the Hume Weir.
A New South Wales bondholder sent a letter to Mr. A Willis offering to support Australia with interest cheques. Willis thanked him but declined accepting the aid. Willis noted growing English sympathy for Australia and that several other similar cheques had been returned to bondholders.
Sidney police arrested two 16 year old boys after a big plate window at Ashdown's Mercery was shattered early Thursday. A torn hat and trousers were found on the footpath, and detectives believe the arrests may help solve a spate of similar robberies in the district in recent weeks.
Report says thieves used a large gelignite charge to blast open a safe at the Came Vale Munk Company's depot on a Thursday. This marks a third similar incident in the area as workers returned to the scene.
A Tariff Board reduction lowers traveling allowance from £2 2s to £1 1s for members. The July or August timing is noted in the notice, with the change taking effect as directed by the board.
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