FEDERAL POLITICS

Hokitika Guardian, 11 April 1931, Page 5

FEDERAL POLITICS

TREASURY BILLS. 1 BANK’S ULTIMATUM. (Australian Press Association.) (Received 9.10 a.in.) SYDNEY’, April 11. The Commonwealth Bank has sent an ultimatum to the Federal State Government to the effect that there must be a limit to the issue of Treasury bill, which had increased to £2,200,000 iu Australia., bringing the total to £8.4000,000. MR LYONS' STATEMENT. ADDRESS TO BUSINESS MEN. A LG. L AIDE, April 11. Addressing a gathering of business men, Mr Lyons said that he was prepared to lead a new Government iu which all forces were opposed to the hcullin-Theodore policy. They were united for the common purpose of rehabilitation of the Commonwealth. He was delighted to hear that this co-ord-ination was going on so famously and also that such an awakening was oecuring among the people who were desirous of a sane Government. He and his colleagues were prepared to repair the damage' by applying business principles in the conduct of tho nat>< ion's affairs and giving utmost encouragement to private enterprise and industry, AUSTRALIAN' FINANCE. BIG STATE DEFICITS. (Received 8.55 a.m.) SYDNEY, April 11. For nine months of the present financial year the State expenditure exceeded the revenue bv £7,270,883. The revenue amounted to £30.405,545, a decrease of £2,750,377 compared with the corresponding period last year. The expenditure totalled £37.676,428. a net decrease of £2,605.501. West Australia’s shortage for nine months amounts to £1,377,980. South Australia’s excess of expenditure over revenue was £1,959,412.