TOO MUCH BORROWING.

Hawera Star, Volume XLVII, 18 May 1928, Page 7

TOO MUCH BORROWING.

ECONOMIC CONDITIONS I N AUSTRALIA. AUCKLAND. May 8. “Australia has undergone the -same economic depression as New Zealand has been going through during tuo past eighteen months,” said Air. J. W. Tattersfield, who has letiirnecl to Auckland alter a months' visit to the Commonwealth. “New South Wales and Western Australia are the two most prosperous States at the present time, ’ lie continued. “hut it is the general opinion that there lias been too much hollowing of money which has been invested in unproductive .works. On the other hand, there lias been a wonderful wool season, and there is abundant feed. As a matter of fact, there is too much ol the latter for the stock to eat off. Pastures which at one time ran one sheep to the acre, could now run three and four.”

Discussing industrial conditions, Mr. Tattersfield said some firms had adopted piece work with the minimum wage method, and this had been found beneficial *tq employers and employees, hut more particularly to the latter. As a matter of fact, he had been shown figures which had gone to prove that employees working under this system had "made from £1 to 25s a week more in wages than previously. “As far as the economic difficulties of Australia are concerned,” said Mr. Tattersfield, “business men with whom I came in contact expressed the opinion that a solution would be to bring duties to what might be termed a happy medium. AYith this idea in view, it was suggested that something might be done with regard to bounties on wine and butter.”