FEDERAL MINISTRY

Hokitika Guardian, 24 October 1929, Page 6

FEDERAL MINISTRY

(Australian Press Association) ' CANBERRA, October 23. In the Federal Cabinet, Hon Mr Lyons (Tasmania) will be the Postmaster General and also Minister of Works and Railways. Senator Barnes . will he Assistant Minister of Works and Railways. SYDNEY, October 23. A paper adds: “Hon. Mr E. G. H. Scullin’s Cabinet as being a “ comparatively strong administration,, for the most part representing the moderate element in Labour.” The paper adds: “Hon. Mr E. G. Theodore, as Federal Treasurer, will now have an opportunity to live down his Queensland past.” Other newspapers express the hope that Mr Scullin’s Ministry will attempt to establish better relations between employers and employed, claiming that there can be no real industrial peace in Australia without goodwill in industry. HURDLE FOR MR SCULLIN. LONDON, October 23. The prominent exception to firmness of trustee stocks, say financial authorities, is a weakness_of Australian loans, the decline in which amounts to several points. The chief cause is the financial stringency following the heavy fall in the wool and wheat prices, which have helped to place the Australian pound at ( a discount as compared with sterling. Merchants who have sold goods in Australia find difficulty in remitting funds to England. One shipment of gold has been made to relieve the strain, and it may be necessary to send more. It would be absurd if stockholders imagined there might be difficulty in meeting Australian obligations here. British investors are probably disappointed at MIS'. Bruce’s defeat, but Mr Scullin is apparently; alive to the awkward problems of Australian finance.

MR SCULLIN’S ANNOUNCEMENT. (SYDNEY, October 24.

Mr Scullin, the new Prime Minister in a broadcast from Canberra tonight announced the members of bis Ministry accompanied by a brief, sketch of their political careers. He declared lie was proud to be associated with them. “All* are triers. Everyone had come through life after a keen struggle and hard work; All were impressed with the importance and magnitude of the tasks that lie ahead. All were seized with the seriousness of Australia’s financial and industrial position. It will be our one aim to try and restore peace and harmony in industry. We intend to tackle the difficulties earnestly and wo hope the Australian people will be prepared to make some sacrifices in order that a better state of affairs shall he brought about. We shall try to steer clear of rocks ahead with ah ways one desire, to put Australia on the high road to prosperity.