ECONOMIC CONDITIONS IN AUSTRALIA

Dominion, Volume 21, Issue 186, 9 May 1928, Page 10

ECONOMIC CONDITIONS IN AUSTRALIA

TOO MUCH BORROWING Dominion Special Service. Auckland, May 8. “Australia has undergone the same economic depression as New Zealand has been going through during the past eighteen months,” said Mr. J. W. Tattersfield, who has returned to Auckland after a month’s visit to the Commonwealth. “New South Wales and Western Australia are the two most prosperous States at the present time,” he continued, “but it is the general opinion that there has been too much borrowing of money which has been invested in unproductive works. On the other hand, there has been a wonderful wool season, and there is abundant feed. As a matter of fact, there is too much of the latter for the stock to eat off. Pastures which at one time ran one sheep to the acre, could now run three and four.”

Discussing industrial conditions, Mr.- Tattersfield said some firms had adopted piece work with the minimum wage method, and this had been found beneficial to employers and employees, but more particularly to the latter. As a matter of fact, he had been shown figures which had gone to prove that employees working under this system had made from £1 to 255. a week more in wages than previously.

“As far as the economic difficulties of Australia are concerned,” said Mr. Tattersfield, “business men with whom I came in contact expressed the opinion that a solution would be to bring duties to what might be termed a happy medium. With this idea in view, it was suggested that something might be done with regard to bounties on wine and butter.”