AUSTRALIA’S PROBLEMS

Dominion, Volume 20, Issue 296, 13 September 1927, Page 8

AUSTRALIA’S PROBLEMS

ARBITRATION SYSTEM AND TRADE BALANCE

Dominion Special Service.

Auckland, September 12

Australia’s huge adverse trade balance of about £30,000,000 was discussed this afternoon by Sir William Lennon Raws, who is chairman of the Australian Associated Chambers of Commerce. Sir William said that this adverse balance was due almost entirely to the heavy borrowing abroad by the State Governments. “More particularly does this apply to America,” he continued. “It means that Australia has to buy large quantities of goods, and consequently there are over-importations. This upsets the balance of trade, and also prejudices the success of local manufacturers.”

Discussing the industrial position, and more particularly the question of compulsory arbitration, Sir William observed: “I hold the view as a result of experience in Australia that compulsory arbitration is a failure.” Asked for his solution, he said: “The solution of the industrial difficulties lies along the lines of conciliation and voluntary arbitration.”