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A SERIOUS LOSS.

MR. WATT'S RESIGNATION.

DISAGREEMENT ON INDEMNITY, By Telegraph.-Press Asan.~Copyri e iit. tt . . London, June 9. « is rumored that there h a possiFederal Treasurer, who has resigned) is abandoning politics for business. Citv natl™ *W Mn Watt ' s *™l nation.. Bankers financiers; and business men have been greatly impressed with him, both on this and his previon. visit They consider it win fca •anon, oss to Australia if » man of such outstanding abilities retires from politics. General disappointment is expressed that Mr. Watt has resigned before he had an opportunity of expressOn™™' 9 T". r( * ardin g Australia's finances, as he intended to do I J™! Australian Press Association * ' igl \ authority suggests that the reason for his resignation may possibly be found in » disagreement concerning the recovery of the Australian share of the German indemnity. It |, understood tha™ Commonwealth wanted to liquidate Australia's indebtedness to the Imperial Government by hypothecating Tustraha s ehare of the German indemnity. pointed out inlfi„-f ? any S were probably indefinitely remote, and insisted that Aust ra i ia should shoulder her respond bilities irrespective of Germany. lne informant suggested that Mr. Watt assented to this arrangement, but i*P" <|i SS ented. fitter, It i understood, a dispute arose over the wool profits, Mr. Hughes desiring Mr Watt to secure a modification in the agreement reached by Mr. Watt with Cable aT aUthorities -^.-NZ.

NO ADVICE m AUSTRALIA. NEWS RECEIVED WITH SURPRISE. \r, u v . s ? dn ey, June 10. Mr. Hughes, interviewed at Wa»ea discerned all knowledge of Mr. Waffs' resignation or the reasons for it The report of the newspapers fairly astounded him, as Mr Watt had even boasted of the extended powers conferred on him. Mr Hughes is awaiting official "™% added that the news would not affect hi s country holiday Several Ministers, " intcrview'od, exposed surprise and'astonishment Thev are entirely in the dark. Some quarters Aff to t A lCti °.l hetweon Ut - Hu S h <« and Mr Watt; others attribute the, action to the recent Federal salaries grab, over which there M much heart-burning throughout Victoria. s Mr. Watt's decision accentuates the Government's difficulty, occasioned, by the voiding of the Ballarat election.-Aus.-N.Z. Cable Assn.

ANOTHER VIEW. DISPUTE OVER WOOL PROFITS. Received June 10, 7.35 p.m. . ~ London, June 9. Another well-informed Anglo-Aus-tralian authority, while not prepared to discredit the disagreement concerning the indemnity, stated emphatically that pe immediate cause of the disagreement Mwe-en Mr. Watt and Mr. Hughes reated to wool profits. Mr. Watt brought to ingland a complete scheme sanctioned by the Commonwealth Cabinet for the collection and allocation of wool profits. In connection with the Commonwealth's financial obligations in London, Mr. Watt carried through suecessfnllv negotiations with the Imperial government and informed Mr. Hughes who thereupon proposed modifications Mr. Watt refused to re-open negotiations, and Mr. Hughes replied that Cahinet insisted. Mr. Watt then cabled that having apparently forfeited the confidence of his colleagues, he felt compelled to resign.-Aus.-N.Z. Cable Assn

A FREE HAND WANTED. NOT OONCEDEiTbY CABINET. Received June 10, 10.25 p.m. _ . Melbourne, June 10. In view of Mr. Watt's resignation the opinion is current in political circles that a general election will he held shortly. It is now announced that the resignation is due to a difference with Mr Hughes na to the extent of the executive powers, Mr. Watt claiming a free hand, which Cabinet was not prepared to concede.-Aus.-N.Z. Cable Assn.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19200611.2.30

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 11 June 1920, Page 5

Word count
Tapeke kupu
566

A SERIOUS LOSS. Taranaki Daily News, 11 June 1920, Page 5

A SERIOUS LOSS. Taranaki Daily News, 11 June 1920, Page 5

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