UNEMPLOYED IN AUSTRALIA.

Press, Volume LXVII, Issue 20335, 7 September 1931, Page 9

UNEMPLOYED IN AUSTRALIA.

NATIONAL PROBLEM.

PLAN OF INDUSTRIAL ADJUSTMENT.

MELBOURNE, September 5.

The report of the Unemployment Secretariat emphasises that the first essential to the restoration of trade and industry is the reduction of the costs of production, together with greater co-operation between employers and employees, a larger measure of efficiency, and the writing-off of dead capital. The Secretariat held out no hope for a substantial development in export trade while the costs of production in Australia remained so high and the futui - o for wheat was entirely without hope. It was therefore suggested that a small committee should be appointed, consisting of farmers, bankers, and mortgagees, who would be prepared to recommend a plan of adjustment with whioh the various Governments should co-operate by the needed legislation. In the meantime, banking resources must be used to the limit to maintain the existing volume of employment and the stimulation of business. There should bo u genoral effort to retrieve gold-mimng. The Tariff Board should he relieved of the necessity of enquiring into new industries, and ashed to review the effects .of the assistance already given to major industries and the maintenance of existing industries. LOAN CONVERSION. OBJECTORS TO BE COMPELLED. MELBOURNE. September u. The Premiers' Conference has decided that holders who refused to convert their holdings in the Conversion Loan shall be compelled to convert. The dissentients number 25,000, and the total value of their holdings is £18,298,237, Total actual and promised conversions now .amount to £487,078,169. DESTRUCTIVE FIRE, HOTEL AND EIGHT SHOPS. (Received Bsptemher 6th, 5.$ p.m.) BRISBANE. September 6. At Longreach, Queensland, the Tioichhart Hotel and oight shops were destroyed by lire early this morning, Th» damage is estimated at £BOOO.