SCULLIN’S HOPE

Hokitika Guardian, 6 January 1932, Page 5

SCULLIN’S HOPE

FOR EARLY PROSPERITY. FINANCIAL POSITION SECURE. (Australian Press Associition.) CANBERRA, Jan. 6. The Prime Minister, Rt. Hon J. 11. Scuilin, at the conclusion of his final Cabinet meeting to-day, said that he carefully bowed to the will of the people. He Aiped I’liat prosperity would soon return to the Common wealth. Mr Scuilin remarked that lie 101 l like a schoolboy, row that he was freed from the cares of office. The Prime Minister stated that he could say definitely that the financial position of the Commonwealth was now secure. Australia’s trade balance was an exceptionally favourable one. The Budget position was satisfactory, and, with any fear of default now removed, those engaged in industry should he able to strike out with a little more confidence, and to assist in the paramount task which confronted all. namely, t’ - e absorption of the unemployed. “The new Government,” added Mr Scuilin, “could count oil him (Mr Scuilin) rendering the utmost assistance to this end.” SIGN OF CONFIDENCE. TREASURY BILL RENEWAL CANBERRA, Jan. o. The Federal Treasury officials announce that out of five millions worth of Treasury Bills, that were due to the Westminister Bank hv the Commonwealth, at the end of the year 1931, there was £250,000 worth paid off, on December 31st, while the balance of four and a half millions was renewed for three months at 6( per cent. This is the same rate of interest as had hitherto been paid, which is regarded as being highly satisfactory. It is also a sign of increasing confidence. MR BRUCE’S RETURN. FREMANTLE 1 , January 5. Mr S. M. Bruce, former Prime Minister, and Honorary Minister in the new’ Lyons Government, returned aboard the “Oronsav” to-day. He expressed gratitude for the generous support given in ensuring his re-elec-tion for -the Flinders seat. He discussed the awakening in Great Britain on the subject of inter-imperial trade, and he, stressed that remarkable opportunities were likely to occur ior the Dominions shortly for reciprocity.