COSTS AND PRICES

Dominion, Volume 25, Issue 170, 14 April 1932, Page 7

COSTS AND PRICES

Search .for Equilibrium in Australia UNEMPLOYED RELIEF By Telegraph—Press Assn.—Copyright. (Rec. April 13, 8.35 p.m.) Melbourne, April 13. The Prime Minister, Mr. J. A. Lyons, announces that the Premiers’ Conference, which was fixed to open to-day, will not meet until to-morrow owing to the crisis In the Victorian Parliament, which is preventing the Victorian representatives from attendIng. It is understood that if the Victorian Government is defeated on the no-con-fidence vote the conference will be postponed until a new one has been elected. The Sydney “Sun” correspondent says it is believed that the conference has arranged with the banks to obtain an advance of £10,000,000 for works to absorb the unemployed, provided that the States reach an agreement to persevere with the original Melbourne economy plan. The committee of experts appointed to report to the Premiers’ Conference in regard to unemployment recommends that arbitration courts and tribunals be authorised to reduce wages all over Australia by 10 per cent where this has not already been done, and that Parliament authorise the Commonwealth Bank to so manage the exchange rate that equilibrium between costs and prices will be achieved as a basis for the restoration of employment. v It also recommends systematic revision of the tariff with the object of promoting employment. The committee emphasises that further efforts toward economies should be insisted on by all Governments.