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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 18, 1931
Page
1
The Hungarian Banking Federation met to reassure the public amid the German crisis. Banks reopened this morning and offered full information on the monetary system, gold stock, and foreign currency holdings. Withdrawals were not allowed, with details to July 28 explained by the Premier.
London Thursday summary of a pamphlet praising Australia and urging support for Lang's plan. The document claims widespread circulation with millions of copies and emphasizes the Australian stance.
Parliament may adjourn on July 31 for one month to discuss estimates in the House of Representatives. The tariff and other business, previously adjourned, are slated for consideration when Parliament reconvenes.
Fragmented lines cite financiers stabilizing prices and debates on lower wage standards for primary producers versus Argentine competition. Critics allege political economists and financial houses influence Federal policy, with statements attributed to Sir Otto Niemeyer and Mr Wills about reform, repu diation fears, and labor party positions in Federated Australia.
A fragmented report from Adelaide indicates the House cleared a plan after a long night session. The central banking proposal was rejected by the Bank, with Prime Minister ESM noting the next steps and a law within 12 months.
Commonwealth faces split over NSW financial aid after Mr Lang requests help. Cabinet debate predicts no further assistance unless NSW re-joins Loan Council and guarantees immediate reforms. Ministers weigh legal and political risks as NSW seeks assurances amid potential dissolution threats.
Mr Lang sought private banking support before appealing to the Federal Government for financial aid to pay public servants next week. Expenditure this month is put at £49,600,000 against revenue of £23,000,000, with railways and unemployment relief among the major items. Interest payments this month are light, but a large sum is due August 10, and the £2,000,000 loan Lang asked the Loan Council to cover remains under review.
Leaders from Germany Italy Japan and Belgium accepted the British invitation to a London conference. An official room at a hotel near the Foreign Office was secured. McDonald urged rapid agenda discussions and swift action. London bankers planned telephonic conference cooperation to aid Germany in maintaining sentiment and parliamentary aims.
Sydney Friday Lang told a meeting of the State Parliamentary Labour Caucus that bills will be introduced at the earliest possible moment to carry out the Bremiers Conference agreement. He blamed delays on technical isolation calls and stated the need to await federal financial aid to maintain essential services.
Paris reports the French Cabinet approved a plan to issue an immediate temporary credit of 100 million pounds from the Bank of England France and the U.S. Federal Reserve. The loan would be guaranteed on German customs revenue repayable in ten years with instalments. Assent is attributed to British Foreign Secretary Arthur Henderson and U.S. Secretary of State Stimson. Subscriptions include Britain 20 million France 30 million and other nations Italy Switzerland Sweden and Holland to provide the remaining 10 million.
Reports from Berlin on Thursday claim France has sent assurances via government channels. It is understood Henderson’s diplomacy prompted France to consider compromising on political guarantees that would enable financial relief for Germany.
Berlin reports an official opinion turning more optimistic on French cooperation while cabinet contemplates an emergency decree placing all banks under government control. The move would amount to nationalisation. A related note cites economic distress in Germany with cash shortages and shipyard delays as tensions rise.
Act proclaimed and gazetted after Senate amendments, enabling pensions and commonwealth public service salaries to operate from the next pay day. The measure affects public service pay and pension provisions following formal proclamation.
A critical day passed quietly in Garfany with banks reopening except Darmatadter Bank. Most closed at 2 p.m. Business resumed normally, and there were no bank runs. Strong police protection proved unnecessary as firms deposited funds that can be withdrawn anytime.
A Loan Council meeting will be held soon to discuss issues arising from the conversion. The session will address pending matters and outline next steps for the council's overseeing role.
Debates in Parliament reveal pressures to reopen the New South Wales Savings Bank. Mr Lang’s request, calls for federal input, and concerns over government obligations surface as members scrutinize financial commitments and the bank’s future. Scullin confirms no final offer, only negotiations to reopen the bank amid Australia wide impact.
Shipowners join permanent and casual Wharf Labourers Union members to work cargo aboard Clan Murdoch. The outcome may push government action to enforce waterfront regulations giving preference to waterland workers, allowing shipowners to challenge the rules in court.
The report notes Mr Lang signed the Premiers agreement after amendments from Mr Scullin. Canberra aims to provide New South Wales 276000 to cover civil servant payments next week. Scullin may demand immediate steps to implement the premiership plan and loan council linkage.
Fragments recall a rush to sell marks in Paris with scenes reminiscent of a currency crisis. Reports mention streams of marks flooding banks, turned away customers, and English banks informing casual buyers that supplies were reserved for regular clients.
London reports Paris has become the focal point of finance due to interviews among Henderson, Briand, Laval, and others. A conference of French, German, English, and American ministers is planned in Paris as a step toward easing tension. A possible international loan to Germany is discussed with the US contributing half the funds and Europe the rest. Basle reports suggest £60,000,000 in tonnage.
In Sydney at Glebe Council last night Alderman Walsh denounced State Government legislation on the Government Savings Bank and said he cannot follow Lang to hell. He indicated leaving the party amid a heated council discussion.
In Paris this morning ministers including Foreign Secretary Arthur Henderson and Stimson met to press urgent measures to prevent Germany's bankruptcy. Henderson and Stimson agreed on necessary action to support Germany, seeking financial and political guarantees amid strained Franco German relations.
A letter from the deputy Leader of the Country Party expresses wholehearted support for the Prime Minister and the committee appointed to handle the RR Gibson loan conversion appeal. The message urges nation-wide show of support from bondholders and approval of a maximum conversion rate.
A motor car belonging to Mr J Heathérahaw secretary to the Treasury was stolen yesterday evening from in front of Hotel Laas Pias. The vehicle was parked in the com
Fragmented text reports Mr Scullin and the Prime Minister in Parliament discussing closing the House and addressing a deficit likely involving thousands of pounds. The report mentions concerns about the adequacy of measures and party considerations during the session.
A fragmented snippet references a loan conversion and market activity involving named entities and dates not fully readable. The fragment hints at financial action, possible approvals, and expectations affecting markets.
An explosion of mob violence erupted in Pudukkottai Town after officials rejected a popular appeal against higher municipal property taxes. The mob closed shops and disrupted traffic, injuring several and sacking poles stations and police properties. furniture and records were destroyed or burned as rioters seized rifles and carbines. Police and government officials faced the unrest.
Cholera outbreaks reported in southern Carnatic region near Calcutta with thousands afflicted. Guards and jail inmates affected. authorities deploy troops from Trichinopoly to quell unrest amid a birthday celebration for a nine year old Rajah.
Chichester arrived in Manila Friday escorted by three United States Army planes. He met the Governor General’s admin committee and the flyer reported minor repairs needed before departing for Mod a on Sunday. The Army Air Taxi Company set up facilities at Chichester’s disposal. He will be guest at a welcome dinner at the Manila Hotel tonight.
An aircraft forced to land near Budapest due to fuel shortage was dispatched to Budapest. Large crowds awaited the arrival, and the cabin crew was reported unharmed amid tense news coverage.
A garbled OCR fragment mentions a Python incident and a discovery but lacks clear names, places, or dates to form a concrete news item. The readable words hint at a death or discovery but provide no verifiable details or context suitable for a proper summary.
Fragmentary report shows a government wage reduction proposal failing by a 48 to 10 vote. The text indicates confidence issues and a party division among members, with decision recorded on a Friday. The readable portion suggests a procedural parliamentary debate.
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