COALITION CAUCUS

Hokitika Guardian, 25 January 1933, Page 5

COALITION CAUCUS

POLICY DISCUSSEjO CONFIDENCE IN EXCHANGE MOVE fPsr Press A ssociation — Copyright.) WELLINGTON, January 24. Five and.a half hours; were spent at their, t by the Cq4p|pri' members to-day in' discussing tnqi^',^9|lcyV:'Almost tlie' f sole topic was l^e^eichange sSfe YVAh •: • w Iff The fleeting will be resumed tomorrow. The leader of the Government expressed confidence this evening that the exchange policy would be endorsed by a. large majority. The three principal speakers were Mr Forbes, Mr Coates and Mr Downie Stewart. Mr Stewart received a cordial welcome from all members, and, from what was said at the gathering, it is understood, it was made qtiite clear Mr Stewart would continue to give a general support to the Government, even although he might, differ from its decision on certain points. After the caucus Mr that the exchange had been discussed dispassionately, all day. He expressed , satisfaction at the; generally 'helpful attitude of members.' < There was no danger of the Government failing to retime a substantial majority.

THE CURRENT YEAR’S DEFICIT.

ESTIMATED LESS THAN £1,000,000 WELLINGTON, January 24. With nine months’, figures available, Mr Forbes considers that the deficit for the culrrent year- will be confined within one million sterling as estimated. r \ The revenue, he said, was holding up reasonably well. The expenditure was being kept down. He said that a revised Treasury estimate of the effect of the higher - ex- ‘ change gave the loss as follows: ~, ■- - V;:'.l. - -" ;£ JvW Loss in customs ... ... 1,000,000Extra overseas interest. , .1,000,000 Indemnity for Bank !.. ... .1,000,000 • Total loss ... ... £3,000,000 How this, plus the ordinarily expected, is to be met ’ will probably be discussed by Mr FoTbes in his financial statement on Thursday night in Parliament. MR STALLWORTHY’S ATTITUDE. AUCKLAND, January 24. The definite statement that he would support a no-confidence motion against the Governments exchange rate policy , even if the Government’s fate depended on his vote, was made by Mi* A. J. Stallwoi'thy, M.P.,. for Eden, at a, meeting of the electors to.night. _ "... Mr StoUworthy was accorded a unanimous vote of confidence, witfh l which a resolution of protest against ! the jraising of the exchange rate was • incorporated.• ‘;'v/ : V ! ■ • 4 \ ; y;":-yV> . '