REPORT OF “BIG FOUR.”

Hawera Star, Volume XLVIII, 12 January 1929, Page 5

REPORT OF “BIG FOUR.”

DISCUSSED BY “THE TIMES.” FINANCE AND TARIFF’ POLICY. ‘United Press AbevciaMou —By Electric lelegrape Copyright.) [Australian Press Association.) LONDON, Jan. 11. “The Times” describes the “Big Four” report on conditions in Australia as -a ’frank and friendly document that will) help the business communities of both countries to get a true perspective. “The report, as might he expected, contains a good many criticisms of Australian economic activititeis, but these are animated by a spirit of impartial insight” the paper says. “Most, if not- all. -have already been formulated by" the more far-sighted l economic thinkers in Australia.”

The editorial regard's as the most important section that dealing with the loan palicy, “which has given rise to much anxiety, both in Australia and here.” On the fundamental question of the soundness of the financial position the report is Jess pessimistic than some opinions lately expressed. These conclusions wifi be welcomed by the British investor, wlio recently was somewhat reserved in his attitude towards Australian issues. . In reviews of the other sections of 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. “The strict canons of parsimony and retrenchment are no doubt less important to a young country, which can sometimes afford a scale: of expenditure disastrous to an old country,” it says. “At the same .time there can he 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 it is not expanding as rapidly as it should under a wiser, and more discriminating fiscal ssytem. Fortunately, the facts are becoming known, and Australia has begun herse’if to set her house in order. The report should assist her.”