AUSTRALIAN FINANCE

Rotorua Morning Post, Volume 1, Issue 125, 19 January 1932, Page 5

AUSTRALIAN FINANCE

(Press. Assn.

mr lyons appeals for united national effort DIFFICULT TIME AHEAD

— By Telegraph— Copyright).

Rec. Jan. 18, 11.50 p.m. SYDNEY, Monday. Mr. J. A. L'yons, the Prime Minister of Australia, in acknowledging a civic welcome, appealed to the commuity and to every section of political opinion to help in getting men off the dole into profitable emplojTnent, where they would become an asset instead of a liability. He" we.nt on to allude to the difficult position in regard to the floating debt. In June 1929, he said, the floating debt in Australia and London was £5,500,000, while in December 1931, it was £78,826,000 and looked as though it would be £85,000,000 next June "The people must not be deceived by the apparent improvement in'-the general situation,"' Mr. Lyons said. "There are f orces outside ' Australia tbat will seriously affect Australia's position and unless some settlement of international difficulties is- reached, the economic position cannot improve." Australian banks were carrymg'the . Government on until the end of 'February, but there was no pfovision after that. The Governments, as a whole, wanted £8,500,000 'forpublic works. That was one of the chief problems that the Loan Council would have to face at-Jhe end of the month.