Ar assurance that Australia would strictly honour its financial obligations was given to-day by Mr.
ustratia, in a statement iemued Seal, the Federal Premier in London, Mr. Scultin declared that nothing Sani nes i Ansialn ver ment to adopt a policy of deliberate= ly deferring payment of maturing Joans. They must be met on their tue date, Any other course, be would be disastrous. to" Aus tralian credit, arid would delay for years the restoration of their economic prosperity. "The Governs added, ment, will meet its obligations," he
The Australian Premier said he was confident that any Austral Governmeny: which failed to would lose the support of the Aue tralian people, It may be recalled that on Novent" ber 8 a cable was received in Can-barra from Mr. Scullin, who London attending the Imperial Cone ference, "in which he refused to. Laccept. the demand made by tha Labour caucus on November 6 that legislation should be introduced to compel holders of the 27,000,000, Loan, maturing in December, t0 hold their bonds for another year—
Reuter, AUSTRALIAN CRISIS, Canberra, A cable has been received from the Federal Premier of Australia, Me. J. H. Scullin, who, is in London attending the Imperial Conferenea, in which he refuses to accept th demand made by the Labour cauen® fon Thursday that legislation should be introduced to compel holders of the £27,000,000 Loan, maturing it December, to hold their bonds for another year.
On receipt of the cable, the Acting Premier, Mr. J. E. Fenton," one nounced' that the Federal Govern ment had rejected the Labour proposal, The Acting Premier said that Mi, Lyons, the Acting Treasure? int the "Federal Government, - who resigned following the demand made by the Labour cations, would remain office and proceed with plans to derange for 8 regular convention Mr. Fenton stated that some bond holders bad offered 10 cancel 26 per cent of flits hidings 28 nation The recaleiteants are now led the Minister of Health, Mr. Pri see vho we eneae feet
Text read from the printed page and cleaned; old type leaves the occasional error.