ENORMOUS DECREASE

Greymouth Evening Star, 15 March 1930, Page 7

ENORMOUS DECREASE

COMMONWEALTH EXPORTS ADVERSE TRADE BALANCE (By Cable—Press Assn.—Copyright.) (Redd. March 15, 11.30 a.m.) SYDNEY, March 15. The Commonwealth exports for the seven months ended January, 1930, show a staggering decrease over the same period last year. For the seven months to January, 1929, the exports totalled £80,363,073, and for the same period to January, 1930, they totalled~£ 25,000,000 less. These figures partly explain the enormous adverse trade balance piled up against Australia in recent months. In January the adverse balance was estimated to be over £10,000,000. A notable decrease in the exports is a £5,000,000 drop in wheat. Wool exports slumped nearly £13,000,000 from the previous year. AUSTRALIAN CONSTITUTION REFERENDUM PROPOSALS. (By Cable—Press Asun.-' Copyright.) CANBERRA, March 14. The Prime Minister (Mr J. H. Scullin) to-day outlined the Federal Government’s referendum proposals in the House of Representatives, when moving the second reading of the Constitution Alteration Bill. One of the main objects is to save the enormous cost of an appeal to the people every time that a proposal to alter the Constitution is made. Mr Scullin declared that the Parliaments of Britain, South Africa and New Zealand were clothed with the complete powers which the Commonwealth required, and were untrammelled by “State rights” and jealousies. He instanced the coal industry, in which the Commonwealth had no power of control, although 80 per cent, of the best coal was locked up in one State, New South Wales. No other Parliament in the Empire, said Mr Scullin, was so handicapped by Constitutional limitations, with the result that matters which should be decided by the Commonwealth Parliament itself became judicial questions for the High Court.

“REVOLUTIONARY CHANGE.” LONDON, March 14. Referring to Mr Scullin’s speech, the “Times” describes as “a fundamental, almost a revolutionary change; Mr Scullin’s proposal to take the right of veto from the people and give Parliament authority to make any constitutional changes it pleases.” It continues: —“He says the result would be to make the Constitution more flexible, but are the electors, who have shown themselves so ready to exercise their right of veto, likely to be persuaded to surrender it once and for all?”

OVERSEAS DEBTS.

CANBERRA, March 14.

Senator McLachlan has a proposal before the Senate for the appointment of an Expert Committee to inquire into the soundness of paying a bounty on gold, to be employed exclusively in dealing with Australia’s overseas indebtedness. He claims that this method would guard against inflation. The view will probably be put forward that no difficulty is experienced in dealing with the internal indebtedness, as illustrated by the success of the Government’s recent Federal conversion loan, but that something further will have to be done to deal with the external indebtedness. GOLD EXPORT PREMIUM. MELBOURNE, March. 14. To ensure for the goldmining industry the premium now obtainable on the export of gold, it has been decided to form a Gold Producers’ Assocation. All bona fide gold producers will be entitled to membership. 1 Mr Theodore has given an assurance that no restriction upon the export of gold by bona fide producers would operate, except on a proclamation by the Goveronr-General.