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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 02, 1932
Page
1
Delegates in Australia discuss funding for deficits as Premier Hill and Stanley Argyle seek federal support. NSW notes a 1.3 to 1.6 million shortfall, while Bank Board talks in Sydney about financing measures and a joint relief program to curb unemployment. Queensland and other states considered budget steps and national policy changes.
The report notes the New South Wales fire facilities crisis pushing the cabinet to adjourn to Sydney for urgent talks. It mentions a possible informal discussion with Commonwealth Bank officials and a meeting with board members scheduled for Monday.
Interviewed after the conference the Premiers expressed divergent views on what transpired. The acting premier of Tasmania said the position, as disclosed, would be considered by the Federal cabinet before any financial decision. He noted Tasmania’s claim for an increased grant to meet disables under moderation and raised issues on revenue and town requirements.
Ottawa reports that Australian and New Zealand delegations met at sea to harmonize attitudes for OL Lawe ahead of the conference. Four industries from each side outlined aims, stressing a united front and ongoing optimistic exchanges with industrial leaders despite delays.
London reports a 2 percent bank rate, the sixth cut this year, the lowest in 35 years. The move spurred a gilded edge securities boom with new high records and a surge in trading activity.
London officials report that J H Thomas will propose in the House of Commons on Monday a resolution to empower the Treasury to impose customs duties up to 100 percent on imports from the Free State if it fails to meet its obligations. The measure would stack on top of existing duties.
Dublin correspondent reports the government plans to default on the land annuity. Executives discussed possible import duties, triggering fear of serious reaction in Irish business farming and cattle sectors.
At Lausanne France and Germany push for a reparations settlement. Herriot maintains an escalator clause to shield France if the United States demands repayment, while Germany resists the scale. Britain is reportedly backing France as talks stretch over debt safeguards and final settlement terms.
Washington reports the Hoover moratorium on inter governmental debts ends at midnight. Greve told the Treasury she will not pay 130000 dollars due tomorrow and asks a 24 year postponement under the debt funding agreement. Treasury officials refuse to speculate on other nations actions. No major payments due before December and a forthcoming appropriation may enable the delegation to attend the economic conference despite the Senate refusal.
Communal violence erupts in Calcutta and Bombay as Hindus assault a Moslem funeral. Police fire on rioters after ten charges, four killed and many injured. Casualties over six weeks total near two dozen dead and more than 2,300 harmed.
In Auckland discussions, Bruce and Gullett and a team of experts tackle the Sne Bley Currency problem as part of broader economic concerns. Mr. Coates defends the government’s efforts for about 400,000 unemployed adults, praising national spirit and urging Ottawa’s support for rehabilitation.
Forgan Smith, premier of Queensland, says the Sydney conference made progress and will address more assistance for the unemployed when it resumes. Prime Minister Lyons had argued the Sydney meeting would not tackle unemployment, saying the issue would be dealt with a month later.
Sir James Mitchell refused to comment beyond waiting for Sydney. He helped push the conference to adjourn there hoping to meet Sir Robert Gibson and the entire delegation. A move to Melbourne was rejected.
The Premier Sir Stanley Argyle announced at a luncheon that Victoria has met the plan deficit of 1,600,000 for the financial year. Treasurer H. A. Fill reported the improved result before the conference resumed. Victoria had forecast 1,700,000 but June expenditure control and revenue gains reduced the shortfall. Delegates will travel from Canberra to Sydney for the conference resumption.
The Under-Secretary for the Colonies said the Minister had consulted with colonial governments and British colonial representatives. Dominion governments were invited to suggest valuable adjustments to the Customs tariff as part of forming a definite colonial trade policy for submission to Ottawa.
The Australian tennis team will play France in Paris starting July 8 and then move to Prague for matches against Czecho Slovakia until July 17. Exhibitions follow at Semmering near Vienna through June. They face Britain at Scarborough for three days in late July, then enter the German championship at Hamburg starting August 7. Return date to Australia undecided.
Sydney police arrest a man on charges of stealing valuables, valued at £780, from residences and hotels. The suspect, dubbed The King of Barbers, faces cambered accusations linked to a similar theft eighteen months earlier and a prior prison release in March.
Sensational tax evasions tied to a major sugar company in Tokyo. Prosecutors call for penalties up to 24,009,000 yen or the company's total capital after four years of selling domestically a sugar Rend for export.
In Chicago on Thursday Franklin Roosevelt endorsed the party plank and seven candidates were nominated for the presidency including Roosevelt Garner Al Smith and Harry Byrd. Melvan Taylor James Reed Robert Hitchle also received nominations amid wild scenes of enthusiasm as a ballot was anticipated. Roosevelt failed to reach a two thirds majority by 104 votes with 606, Smith 201, and the rest totaling Bid.
Chancellor Neville Chamberlain announced a plan to convert the Greater Five per cent War Loan with over £2 billion outstanding. Holders may redeem in cash by December 1 or continue with a reduced 3 4 percent interest, with government redemption optional after December 1, and a three and a half per cent war loan title.
The government plans to issue EL6,000,000 forms and envelopes for a covert debt conversion expected to save about E2200 annually from June 1932. Observers praise the move as strengthening finances, arguing timely action prevented higher costs and kept investor confidence in government securities.
The first meeting of the committee appointed by the air convention to form an air policy for Australia was held. Victorian Aero Club President Mr AC Mackay attended but declined the appointment. A referendum via Defence Minister was proposed to confirm the policy among those in Australia and New Guinea.
John Metquade, 25, of Mascot, died after his head and body became entangled in a spiked roller at F. W. Hughes woollen mill. Co workers shut down the machine but he could not be freed. The body was taken to the morgue.
The Prince of Wales stays in bed with a chill after a Nottingham visit to social welfare centres. Sir Stanley Hewett, the king’s doctor, traveled from London and ordered rest at Kun ningdale country home. He canceled tonight’s engagement. doctors say no bulletin will be issued.
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