RESTORING AUSTRALIA

Evening Post, Volume CXI, Issue 33, 9 February 1931, Page 9

RESTORING AUSTRALIA

WHAT EXPERTS THINK

THEODORE, MAN OF MYSTERY

United Press Association—By Electric Tele- ; " eraph—Copyright. ' CANBEEEA, Bth February. A reduction by £15,000,000 a year in the Government expenditure is the basis of a three-year plan drawa up by a committee of experts to restore Australia's prosperity. "The alternative," the experts say, "is to default in the Government's payments, the evils of which would bo immeasurably greater than the hardship which a nation would be asked to face." The danger of inflation is strongly condemned. "This is not the road to recovery, but to collapse. "A reduction of interest rates by savingß banks is also a possible means of bringing about a fall in interest charges: Pensions of all kinds should be revised and made the subject of a close examination. "The curtailment of road expenditure is imperative. Employment must be made profitable, and all obstacles to reduced costs must be removed." THEODORE'S ALTERNATIVES. Mr. E. G. Theodore explained > his long-awaited financial policy, at ytho Premiers' Conference, advocating the restoration of the 1929 currency levels, and claiming that the adoption of this plan would increase the national income by about £100,000,000. He expressed the opiniou that this would provide work for between 100,000' and 200,000 persons, and would cause an additional production of material wealth amounting to £■ 30,000,----000. He emphasised that the reduction in interest rates which would be the effect of his policy was tho logical way of escaping from the burden which was becoming more, and more onerous every week. There would be no repudiation of obligations, but there would be equality of sacrifice. - The "Sunday Press" points out that by his speech, Mr. Theodore has onlinnced his reputation as a mystery man, for, while hinting : at a reduction ctt interest rates, ho failed specifically to state how he would carry' out his policy, leaving the Premiers wondering whether it is tantamount to .inflation. Th« conference has adjourned until Mopday.