"FIDUCIARY"

Evening Post, Volume CXI, Issue 106, 7 May 1931, Page 21

"FIDUCIARY"

WHAT DOES IT MEAN ?

"What exactly is the meaning oi" a 'iiduciary' note issue as proposed by Mr. Thcoaoro?" the writer was recently asked, and on turning to thD dictionaiy for the precise meaning of the word "fiduciary" found the following to be .one of the definitions given:— "One who depends for salvation on faith without works," says the."Sydney Morning Herald." Was there ever a more apposite description of tho Scul-lin-Thoodoro Administration? _ When wo study its history, wo find its record one of decent intentions and poor performances. We cannot say it rates its honour .very high, since it received back into the Treasuryship Mr. Theodore before his honour had been vindicated, nor its word as very reliable, since it broke its financial agreement. Its latest plan is tho creation of a fiduciary note issue. Again and again financial experts, economists, and bankers have pointed but to our Federal Government that financial ■ assistance must be accompanied by rigid economies. Sometimes Mr. Scullin has signified agreement, then lator balked at it. _ Sornotimes he refused to even consider it, and one wonders if any description could fit this Government's record of vacillation and feoblcncss better than that quoted in the dictionary as descriptive of its latest financial panacea, Clearly Mr. Scullin intends to make no adequate economies .in. the cost of /government, yet he expects our banks and the .British-public to^tnist him with unlimited credit. . ' ■. • ! The wrangling in the Federal Labour arena, combined'1 with tho doclri-ues enunciated so' unexpectedly by Mr. Lang, in complete contradiction o£ the sentiments expressed in his policy speech, arc arousing the national _ couscienco to a new sense of responsibility; or perhaps it is partly the national dommon-senso which .is in revolt. This is shown by the number and vigour of the non-party movements, such as the "All for Australia League," "Sane Democracy League," and others. Surely tho birth and rapid growth of these societies are in themselves a good augury that the public mind has become aware of the depth of degradation into .which at least ono of the groat political parties of tho State and Commonwealth has fallen. Whether any of these organisations will gain .lasting success is doubtful, although their educative influence is of value for the moment. WHAT AEE. WOMEN DOING? But these arc. the organisations of men, and for the most part for men. One wonders what women are doing in these days of .national crisis. A great many undeniably aro toiling selflessly long hours to help.feed and clothe tho unemployed. Others are contributing timo and money.to much-needed charities; others again are patiently practising economics hitherto undreamed. Yet far too many . are still playing bridge. Not as a relaxation after a strenuous day,1 as is -the habit of men, not for a deservedly restful few hours between dinner time and bed, but during the daytime. Hospitals aro everywhere crying out for assistance; men, women, and even littlo children are walking the streets underfed and underclothed, and shortly wintor will be here, making their lot practically ■ unendurable. Yet thousands of women, can. still spend days in luxurious clubs and homes playing bridge. Ofttimes in; a house one will hear, "My dear, isn't the Government too awful, and aron't things too appalling?" Yet what aro they doing to help? Would each one but clothe one ragged child, what a difference it would make.

Through the centuries the talc has been recounted how Nero fiddled whilst Eome burned, and if Australia should default is history to record it was whilst thousands of her women heedlessly played bridge? ' The call of the time is "deeds not words." There is probably no greater menace to our speedy return to prosperity than those ,who.follow the .example of Messrs. Scullin and Theodore, and "depend for salvation on faith without works." .'•