AUSTRALIA WILL HOLD SESSION OF EMERGENCY

Sun (Auckland), Volume IV, Issue 1056, 21 August 1930, Page 9

AUSTRALIA WILL HOLD SESSION OF EMERGENCY

REVIEW OF FINANCES SCULLEN ATTENDS MEETING United P.A. —By Telegraph—Copyright MELBOURNE, Wednesday. The conference of Premiers find Treasurers to deal with Australia’s financial crisis today forced the Federal Ministry to convene a special meeting of the Cabinet. This was held at the residence at Richmond of the Prime Minister, Mr.'J. H. Scullin, who is still very ill, but adheres to his intention to begin his journey to London tomorrow. The Premiers’ conference was most anxious to ascertain from Mr. Scullin whether he would agree to a group of State Ministers handling the financial situation on non-party lines. It is understood, also, that the Laboui _ section of the conference was desirous of Mr. 15. G. Theodore again taking up the portfolio of Treasurer and that of Acting-Prime Minister, as he alone is thoroughly conversant with the financial position. It was reported that Sir Otto Niemeyer intended to issue a comprehensive report on the subject of his mission. Late tonight it was announced that the Federal Cabinet had agreed to summon Parliament for a special session to review the Budget and severely curtail expenditure. SCULLIN LOOKED ILL A Press Association message from Wellington says Mr. Scullin, well wrapped up and looking pale and ill, arrived unexpectedly at the Premiers’ conference In Melbourne at 11.25 a.m. I today, and was accorded a great recepI tion, according to a wireless message ! picked up by Mr. S. M. Levy, of Well- | ington. After the conference Mr. Scul- : lin returned to his home at Richmond, a suburb of Melbourne, where a meeting of the Federal Cabinet was held in the afternoon . It was decided that a non-party committee should be formed immediately to deal with the economic position, and to rehabilitate Australian credit. READY TO FACE IT RETRIBUTION FOR OVERSPENDING NEW YORK, Tuesday. The “New York Times,” in a leading article on Australia's finances, says: “Conferences continue to point to the financial embarrassment of the Commonwealth. Obviously something will have to be done. Mr. Scullin struck out for increased revenue, which is held not to have improved the outlook. "Although it is evident that emergency measures must be invoked there can be no doubt as to Australia’s ultimate recovery. She has great natural resources and her people are confident. They realise that they have been extravagant, but they are ready to face and conquer their difficulties with courage and intelligence.