FEDERAL FINANCE

Hokitika Guardian, 15 March 1932, Page 5

FEDERAL FINANCE

WITHDRAWAL OF FINANCE. (Australian Press Association ) SYDNEY, March 14. The Treasury officials are preserving the Utmost secrecy with regard to tlio withdrawal of the £1)150,000, which is more than sufficient to meet a month’s salaries and wages, jjt,, is presumed that the money represents income tax, railway and tramway revenue, and lottery receipts.

The Government has not disclosed its plans for carrying on without the usual hanking facilities,- and persons handling its cheques are likely to experience inconvenience.

ENGLISH PRESS UNCERTAINTY. LONDON, March 14.

Tho “Manchester Guardian,” in a leading article, says: “Nobody quite knows how long Mr Lang will be able to hold out against the Commonwealth, for a State is a difficult thing to coerce. Mr Lyons cannot afford to allow the New South Wales finances to be completely shipwrecked in the process of bringing Mr Lang to heel, or the whole object of his policy would be defeated. The controversy has an amusing side, but none the less it is serious, for the soundness of Australian finance, and perhaps the whole future of the Dominion, are at stake.”

TO DEFER PROCLAMATION

SYDNEY, March 15. The Premier. Mr Lang, has sent

telegram to the Prime Minister tonight, asking him to defer the proclamation making operative the Financial Agreement Enforcement Bill until he had had the opportunity of testing it constitutionally. This Mill einpowei'H the Commonwealth to recover* money from n defaulting Staid, /