AUSTRALIA’S FINANCE

Ashburton Guardian, Volume 50, Issue 132, 17 March 1930, Page 5

AUSTRALIA’S FINANCE

LONDON NEWSPAPER’S VIEWS. HIGH TARIFFS NOT A REMEDY. (United Press Association —Copyright.) (Received This Day, 8.55 a.m.) LONDON, March 16. The “Dailv Chronicle” editorially says that Australia’s difficulties are primarily due to Labour economics, insisting on high wages and comfortable conditions behind over-mounting tariffs. This artificial standard necessitated continuous borrowing, not always productive. , , The' “Chronicle” adds that when reduced borrowing abroad helps to create an adverse trade balance, it is obvious that Australia has been living beyond her means. The remedy can hardly be expected from' the Labour Government hoisting the tariff. It may reduce imports, hut it will not increase exports—rather the reverse. It wall widen the margin between internal ami world prices for wool and wheat. To the Auditor-General’s Recommendations lor economy might be added! a scrupulous regard for existing external debts, not more facile borrowing.

ECONOMIES ON RAILWAYS. PAYMENT FOR ACTUAL HOURS. (Received This (Day, 2.10 n.m.) SYDNEY, This Day. The State Government is said to be contemplating a change in the railway service convering employees governed by Federal Arbitration Court awards, under which they arc paid for a -IBhour week, though they -work only 4-1 hours. It is now proposed to pay them for the actual time worked, thereby saving £BOO,OOO annually.