Hint to Australia

Sun (Auckland), Volume IV, Issue 1064, 30 August 1930, Page 9

Hint to Australia

NO CENSORSHIP OF FACTS Comment From England MR. FENTON ANNOYED BY REPORTS Australia has been given a direct hint from London that censorship of political facts should not and cannot bo exercised. This arose from the indignation of the ActingPrime Minister, Mr. J. E. Fenton, anent the reports of the debt repudiation demands of the Labour movement in New South Wales. He said the time had arrived for censorship. The Commonwealth has successfully issued £5,000,000 in Treasury bonds and the response is considered quite a satisfactory indication of faith in Australia.

United P.A. —By Telegraph—Copyright Reed. 10.25 a.m. LONDON, Friday. Commenting on the financial situation in Australia, ‘,‘The Times” says: “The rather wild talk of Mr. J. E. Fenton, acting-Prime Minister, of a censorship over newspaper correspondents' cablegrams about the repudiation of debts resolutions carried by the New South Wales Labour Conference, may be overlooked as a rhetorical expression of Indignation. It is not censorship that is required, but a proper understanding of the degree of importance to be attached to extremists’ utterances. However, there seems to be no likelihood of their resolution being accepted, and Australia will seek financial restoration by more orthodox methods.”

The “Daily Telegraph,” writing on the same subject, says:—“lt is not desirable in a constitutionally governed country that political facts should be concealed. Moreover, they cannot be concealed.”

A Sydney messags says the comments in the London “Times” and “Daily Telegraph” refer to a statement made by Mr. Fenton upon his arrival at Melbourne yesterday, when he expressed resentment at the dispatch of Press cablegrams to London on the proposed war debt repudiation. He said he was going to find out who was sending such misleading and defamatory reports. It was time that censorship was exercised over newspaper correspondents.

A message from Melbourne states that Mr. W. J. Duggan, president of the Australian * Council of Trade Unions, says nobody outside a mental hospital takes the New South Wales Labour Party's repudiation proposals seriously. PARTY EXECUTIVE MEETS

A Sydney dispatch says the report of the political and industrial committee of the New South

\Vales Labour movement, i'ccom- ‘ mending a repudiation of war dobts,‘ has been submitted to the Australian‘ Labour Party Executive. and was neither adopted nor rejected. , The executive instead carried a} resolution, the effect of which was to; advocate a reduction of war loans and 3 interest, and call on the Federal Prime ; Minister, Mr. J. H. Scullin, to nego-i tiate for a readjustment of war debts. 3 A resolution was passed advocating} the abolition of the Loan Council. ‘ W \ SATISFACTORY RESPONSI: : TREASURY BILLS ISSUED DOUBLE AMOUNT SOUGHT LONDON, Thursday. ' Financial circles consider that the issue of? £5,000,000 of Australian Treasury bills was most successful. Tenderers at £9B 95 7d per cent. re ceived 33 per cent. of their applications. Other tendercrs received allotment in full. The average rate of discount was £3 Os 2d per cent. per annum. Australian financial circles regard the response as very satisfactory, particularly in view ot the publication of the debt repudiation suggestions from the Sydney Labour Council during the tendering period. The latter reports actually caused a. setback of one point in Commonwealth stocks yesterday, but this was recovered today. when all Australian stocks participated in the upward trend of gilt-edged stocks during the week.

The total amount of the applications for the Treasury bills has not been announced, but it is understood that it was more than double the amount sought.