AUSTRALIA’S PROBLEMS

Feilding Star, Volume 5, Issue 1203, 13 September 1927, Page 5

AUSTRALIA’S PROBLEMS

ARBITRATION AND TRADE. (Per Press Association) Auckland, Sept. 12. Australia’s huge adverse trade balance of about £50,090.000 was discussed this afternoon Ivy. 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 tire heavy borrowing abroad by the State Governments. “Mote particularly docs 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 AYilliam observed: ‘T hold the view as v result of experience in Australia that compulsory arbitration is a failure.” Asked for his solution, lie sat > “The solution of the industrial difficulties lies along the lines of confiliation and voluntary arbitration.