AUSTRALIA’S BURDEN.

Otago Daily Times, Issue 20202, 13 September 1927, Page 10

AUSTRALIA’S BURDEN.

ADVERSE BALANCE OF TRADE. .COMPULSORY ARBITRATION A FAILURE, (Special to Daily 'James.) _ AUCKLAND, September 12. Australia has a huge adverse trade balance of about £30,000,000. Discussing this subject this afternoon, Sir William Lennon Raws, who is chairman of the Australian Associated Chambers of Commerce, said: —“This advci,: balance is due almost, entirely to heavy borrowing abroad by our State Governments. More particularly does (bis apply to America. It means that Australia has to buy large quantities of goods and gold, and consequently there are over-importa-tions of goods, and this upsets the balance of trade, and also prejudices the success of local manufact rers.” - .settssing (he industrial position, and n. re particularly the question of com pttlsory arbitration, Bir William observed:—■“ 1 hold the view as a result of the experience in Australia that 'compulsory arbitration is a failure.” Asked for his solution, he said: “The solution of the industrial difficulties lies along the lines of conciliation and voluntary arbitration.”