03 Dec 1931
Page 1
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This newspaper page contains 18 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Dec 03, 1931
Page
1
The State Parliament in Sydney reports a ministerial instruction under the Local Government Act postponing the metropolitan council election from December 5 to another date. The Assembly adjourned for 18 days as the government moved to delay proceedings. The Speaker urged party leaders to resolve the issue.
A garbled report from Sensis Sydney references an inquiry into the price of bread. The document mentions Mt deathy Piddington and the Royal Commissioner Guiry, with mentions of Master Bakers and the price of bread in the county. The exact details are unclear due to corruption in the text.
Government securities moved higher on a volatile session as investors shifted toward higher yields. Short-term bills showed strength while longer maturities eased slightly. notable gains were seen in select issues with prices advancing and yields fluctuating.
Fragments show members of a Water Federation attending a layet or layette event and a possible notice to Mr. Aei Federal Secretary. The readable portion lacks clear names, dates, or locations to establish a full report.
In Sydney, United Australia Party leader J A Lyons urged electors to follow Britain in choosing honest finance and government. He attacked Scullin’s Labor administration for failing to curb unemployment and for relying on opposition support, promising strong measures against communism under existing laws and criticizing government choices on economy and war pensions.
New Zealand voters delivered a strong Coalition victory with a 20 seat majority. Coalition members hold 50 seats, Labour 24, Independents 6. Leaders Forbes and Coater of the Coalition and Labour's Holland secured solid majorities. Dunedin South and Dunedin Central contests show coalition strength with few Labour gains remains. The Labour Party faces its strongest parliament to date but loses key seats.
Melbourne reports the Commonwealth Bank announced a five percent reduction in the Australian rate of exchange with London. Sir Robert Gideon stated the bank board would maintain policy independent of politics and would set a weekly official buying rate for London. the decision aims to curb instability in the exchange market and prevent business disruption. The board will announce the buying rate and operate the currency guide for the nation.
The article reports on a government plan for economic reform pushed by the Scullin administration, facing opposition and internal dissent. It describes ministerial defections, fiscal debates, and promises to reduce taxes to boost private enterprise, with Lyons cited on fiscal priorities and calls to restore confidence in Australia’s financial stability.
London reports Thomas cancels plans to visit the Dominions after Premier’s advice. A letter from MacDonald to Thomas discusses delaying the tour and possible scheduling for a future conference. Thomas agrees to proceed with cabinet consults and aims to resolve time constraints. He plans to depart London in January for four days, then return, with Ottawa conference dates to be set.
London leaders and scientist Bir Aimroth Wright report a potential breakthrough in malaria prevention. Colonel James We notes trials using a new drug under health ministry supervision. Inoculations with malaria-carrying forms are studied to estimate the minimum daily dose needed to protect healthy people.
Mr Lyons criticized Mr Scullin and claimed the speech showed the defeat of a discouraged leader. He argued Scullin took credit for economic improvement, saying the plan was forced under pressure by UAP premiers and the Commonwealth Bank.
In Sydney a design race unfolds as engineers discuss a home grown aircraft project. Mr Harkness notes testing underway while figures such as Wilacd Smith and Andrew Jumningnam figure in unverified claims amid public interest in a domestic aviation venture.
Fragmentary OCR text notes Mr S M Bruce election radio speech broadcast from London with references to December and travel plans. The readable fragments mention itinerary hints and a ministry travel context, but the passage is incomplete and lacks clear dates or outcomes.
Speed record hopeful Smith prepared to attempt the flying mile on Nikety Beach. Arrangements for timing gear placement are complete as the car is set to arrive late December with a January 14 target window.
Shanghai reports a shift in Japanese strategy after gains in Manchuria. Observers note a concentration of 12,000 Chinese troops between Shanghai and Nanking as Japanese forces appear to pivot toward Tientsin and Shanghai while Chiang Kai-shek weighs staying in Nanking amid renewed martial law and fear of further invasions.
The pound continued to fall, dropping more than a cent to around three dollars, a new postwar low. British efforts to stabilize the currency are minimal while traders note foreign demand remains weak and main European banks show little appetite to intervene.
The article discusses pressure on sterling as central banks maintain gold standard while excess demand and external value gaps emerge. It argues against raising market support or forward exchange actions, warning such steps could worsen the position and delay discovery of the true external value. It emphasizes letting genuine trade adjust to establish real levels.
Gold to-day rose to a new high around 188 per ounce with quotations at 188. The market showed strength as investors chased higher prices amid steady demand and cautious trading on the London and New York floors.
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