Australian Budgets and the Birth Hate.

Southland Times, Issue 19036, 2 May 1903, Page 2 (Supplement)

Australian Budgets and the Birth Hate.

The- Daily Mail of IHlh February says:

— " The discussion which has been proceeding in our columns as to tho financial position of Australia, luid which is brought to a close to-day by an article from the Agent-General for New South Wales, has clearly shown that the debt of Australia is heavy, but that a largo part of it is represented by solid assets. It has, also been proved thai the borrowing for works which niv admittedly not productive lias shown a tendency to increase grently of recent years, while, owing to the drought. the productive works have not in all cases earned the full interest on the capital invested in them. At the same time the population is not increasing ns rapidly as we should expect in the case of a young ennuminity. and there is but little immigration. While all Knglishmcu will admire most features in the Australian character, not many of them, we think, will bo fouiulr to agree with the Agent-General that it is v crime verging upen high treason to discuss the solvency of Australia. Now that Australian stocks have t«come trust investments. in which the small capital vi" the widow and the orphan nuiy he placed for security, it is quite light that the linunciat condition of tho colonies should be investigated with close scrutiny. If it cannot stand that scrutiny it must be in an unsntisfi-vtory state. We are Iwund to add thut Mr {'opelaiid appears to forget the old uda-gc

• abuse is no argument.' and to ignore the fact that it is, not relevant to the question to recall the prowess of Australian cricket teams, which, by tho way. we all honour and admire. In dealing with the very se.rious matter of the decling birth-rate ho luiitiuiises tho full by using old .statistics. The point is

not whether on the averages of somo years ago Australia was in advance of older countries, but whether she is today. Mr Wilson showed, using Sir K. GjfTens figures, thut the birth-rate was high in the early history of the country and thut the fall is a recent phenomenon. With regard to the outlay on productive works, it must he pointed out fchat the American States, which in the early years of last century, and the American towns, which in the later years pf that century borrowed heavily. and were unuhlo to meat their obligations, also spent the sums thus obtained upon productive works. The real danger in the case of Australia lies in the fact that expenditures ,*s controlled by a class which lias no interest in securing economy of out'iay and administration, and which crocs not understand the difficulties of finance. Nor is it eaey to condone the extravagance \vh.iich has undoubtedly occurred in the adoption of such expensive measures us old age pension laws at a time when the revenue was shrinking through drought. What is important is that there should be care and economy in tho financial administration of Australia, and if there were evidence of care and economy no complaints and criticisms would be heard. It must not be forgotten that it was an Australian paper, tho Sydney Bulletin, which declared first that ' tho great Australian bankruptcy must needs come sotme day. supposing the present methods last.' "