FARMERS' PLIGHT
ARTIFICIAL EXCHANGE
DEBATE IN COUNCIL
The Government's high exchange policy was again discussed in the Legislative Council yesterday afternoon ■when the debate on the second reading of the Banks Indemnity (Exchange) Bill was continued. The adjournment was moved by^ the Bight Hon. Sir Francis Bell, who will cuter, the lists today.
, The.Hon. B. McCallum said that he Bupported the Bill wholeheartedly. It was a pity that.the measure had not been brought in eighteen months ago by instalments. The people who. earned the country's living were the farmers, and,the public did-not seem to, realise the dire plight of the primary producers. If it were realised there would be less academic discussion. "I support the Government's policy," said Mr. McCallum, "because-it is the policy 6t the Bank of New South "WaleSj that great bank -which carried Australia for many years." Because of the strong opposition. of the towns, the chambers of commerce, etc., he was heartily in favour of the Government's action. They had the assurance of the Minister of Finance (the Eight Hon. J. Gr. Coates) that the raising of. the exchange was not a breach of the Ottawa Agreement. The Leader of the Council (the Hon. Sir James Parr): England doesn't want to bankrupt the farmers. ■-.'•• _ .'Mr. McCallum said it was time that it was recognised that .the body politic - was one. The Hon. W.Snodgrass said that the spirit of reasonableness and co-opera-tion was very essential at the present time. Had-this feeling been prevalent there would have been little opposition to the; Government's action. There was no question:that the Ministry considered'that the raising of the exchange was a good thing for ■ the country. There Was no doubt that they had acted honestly. The Hon. M. Fagan: No one has suggested anything" else. . :'•:■• Mr. Snodgrass said that had the increased exchange been put into operation before the wage reductions it might not have been necessary to impose the cuts. The increased exchange- would have put more money into circulation, i
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Bibliographic details
Evening Post, Volume CXV, Issue 34, 10 February 1933, Page 5
Word Count
331FARMERS' PLIGHT Evening Post, Volume CXV, Issue 34, 10 February 1933, Page 5
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