BIG FOUR REPORT

Evening Post, Volume CVII, Issue 10, 12 January 1929, Page 9

BIG FOUR REPORT

OPINION OF "THE TIMES" •KKAXK AND FRIENDLY DOCUMENT Australian Press Association, LONDON, 11th January. "The Times'' describes'the Big Four report on Australian economic conditions as "a frank and friendly document, which will help'the business communities of both countries to get a true perspective. The report,.as might bo expected, contains, a good many"•criticisms of Australian economic activities, but these are animated by a spirit of impartial insight. Most, if not all, have already been formulated by more ! far-sighted ■ economic thinkers in Australia." ' ■■•. , ■■■•-.■ The editorial regards as 1 the most important section that dealing with the loan policy, "which has given rise to much anxiety'both'in'Australia and here. , On the fundamental question of | the soundness of tho financial position the report is less pessimistic than some opinions lately expressed. These conclusions will be welcomed by the British investor, who recently was somewhat reserved in his' attitude towards Australian issues." . . ... ■ ' ■ In reviews of other sections' on tariffs and'immigration, "The Times" expresses the opinion that "probably few intimately acquainted with Australian [ conditions as,a whole feel inclined to disagree- with the conclusions. Strict canons of parsimony and retrenchment are no'doubt less important to a young i country which caiL sometimes perhaps afford a scale of expenditure disastrous. Ito an old country. ;At the same time' there can bo little doubt that the reckless borrowing of recent years has not improved Australian credit. ...The same is true of the recent tariff policy. The volume of production is not diminishing, but is not expanding as rapidly, as it should under a wiser and moja discriminating fiscal system. Fortunately the facts are becoming known, and Australia has begun herself to set her house in order. The report should assist her." '..'•'■-'' :."■•'■