INFLATION CONFERENCE

Hokitika Guardian, 14 January 1931, Page 5

INFLATION CONFERENCE

6CUU.IN’S REFUSAL, TO ACCEPT DICTATION. ( IS ANY INTENDED ? (United PreSo Association—Py Electric Telegraph..—Copyright.) < MELBOURNE, January 13. S The Prime Minister, Mr «J. H. Soul- ] lin, had several telephone conversa- p tions to-day with Labour friends in b Sydney concerning the Labour Con- t, ference’s decision on inflation, already s cabled. " The Prime Minister, in reply, re- a ceived assurances that neither the 1 Australian nor the New South V) ales S [Federal 'Members desired to impose u any conditions upon him on the sul>- s ject of finance when be opened the Sl Labour Party’s campaign at Parkes b on Thursday. f Mr Scullin added that any restrie- )( tion upon his utterances could not be tolerated; and therefore, whatever policy he enunciated would be his financial policy, and not that ol anybody that was linked with the Labour movement. Mr Scullin said: “I shall define what 1 conceive to 'l>e the best course for the present critical times,” BARRIER TO INFLATION, SYDNEY, January 13. Mr Latham, Leader of the Federal Opposition, to-day said that inflation could only become operative with the approval of the anti-Labour majority g in the Senate, which was quite unlikely, and with the approval of the Commonwealth Bank, the laws of j which could only he amended with the j consent of the. Senate. . j DANGERS OF INFLATION s a PRESS CONDEMNATION. ( SYDNEY, January 13. \ The press here bitterly condemns g that section of the Labour Party v which is aiming at inflation. The “News” says: “Were there no j traitors in the Prime Minister s camp, this attempt could not be made; while v a default abroad and starvation at j borne would drive the famished people to bloodshed and rapine.” The “Sydney . Morning Herald” directs attention to the ills, of inflation, and particularly to the working man. It says: “There certainly must be a reconstruction in the Federal Cabinet, for the extremists within the Ministry have rent the Cabinet ps well as the Party. The whole country will await, with the keenest anxiety, Mr Scullin’s answer to this impudent challenge.” ?; ME SCULLIN AND INFLATION. A LABOUR ULTIMATUM, (Received this day at 11.30. am.) LONDON, January 13. A sincere labour ultimatum was , sent to Mr Scullin that lie.must agree to inflation. The British investors ; anxiety has been accentuated, as the recent marking down of securities indicates. To-day’s news from Sydney that Mr Scullin notified he will speak in the Parkes electorate, “on a policy of inflation,” has intensified misgivings and dispelled the effect of Mr Scullin s courageous words when he landed at Fremantle. The City is awaiting with tensest anxiety Mr Scullin’s appearance in the Parkes electorate also his first encounter with the caucus. I here is a strong feeling it is an occasion for him to grasp the nettle, and tell the caucus inflation would inevitably lead to disaster. A leading banker commented —“If Mr Scullin is unable to induce the approval of the financial policy, which he knows is urgently necessary, his wisest course would be to. seek dissolution or to accept the help .of the Opposition in carrying out his programme. If he does I have not the shadow of doubt that Australian stocks will recover immediately.” MR SCULLIN. GIVING WAY TO EXTREMISTS. (Received this uav at 10.30 a.m.) SYDNEY,. January 14. The “Herald” says as the result of yesterday’s telephone conversation, Mr Scullin has indicated his preparedness to compromise with the State labour leaders, and New South Wales section of the Federal Parliamentary Labom Party on their demands for an inflation policy. He will speak in Parkes by-election practically in conformity with the policy of the inflationists. In some labour quarters the concessions they expect from Mr Scullin are regarded as capitulation. W ECO ME HOME. MELBOURNE, January 14. Acknowledging the cordial welcome ],ome by the Australian Association of British ■Manufacturers to-day, Air J. H. Scullin assured the gathering he would he «ble to show the way to Australian people not to roseate the wav, perhaps wherein all must cooperate to help the country hack to prosperity.