THEODORE’S PLAN

Hokitika Guardian, 16 February 1931, Page 3

THEODORE’S PLAN

OVER GOLD STANDARD. (A iisinil'hiii Press Association.) CANBERRA, February Jo. After participating yesterday in the decision of the Premiers and Treasurers conference, the Federal Treasurer (Air E. G. Theodore) caused a surprise ,to-day by resuming his advocacy of his own plan and alma by attacking the Australian Ranking policy. All - Theodore declares that lie is convinced th:ti( the policy which he outlined to the Conference covers the only practicable way of meeting equitably the economic problems now facing the con n't ry. This way is by attempting to correct the Rritisli-Australian blunder of returning to the gold standard in 1923. Firstly, says Air Theodore, business activity must he stimulated in every direction to provide employment for the inaxiinirin number of men. Secondly, the Governments’ costs musf he cut to the bout'. Thirdly, there must he the recognition and payments of their external indehtednCKs within the limits of the Commonwealth's capacity. Fourthly, there must he no overseas •iuterlerence with the policy which Australia may adopt to obtain her internal adjustments. Air Theodore also urges that there he an '■endeavour to balance the budget within the next three years, and the universal sharing of the sacrifice necessary to secure economic adjustment.