AUSTRALIA TO-DAY.

West Coast Times, 11 April 1912, Page 1

AUSTRALIA TO-DAY.

THE NEED FOR STEADINESS IN FINANCE.

SYDNEY, March 30. IT hon Mr, J. Russell French, general manager of the Bank of New South Wales, speaks on matters of finance, his remarks carry great weight, for ho is recognised as one of the highest authorities on such matters in Australasia. On Thursday night, in his presidential address before the Bankers’ Institute of New South Wales, he made a “financial statement.” Some changes had taken place in the outward features of banking during the year, lie said, and perhaps the most noteworthy feature had been the largo extension of the advances of the banks. Developments had been proceeding with considerable rapidity, and as long as they were legitimate, and in accord with the natural progress of the country, it was the part of the banking institution to afford reasonable facilities for carrying them out. Y’car after year the wheat harvest required more money sot aside to finance it. For some years past the deposits had shown an enormous growth, chiefly due to the good seasons, but there was evidence that the very prosperity of the people was weakening to some extent their habit of caution, or thrift, which was born in the financial crisis of 1893. Imports had greatly increased. “Hie people generally are spending more,” ho said, “ and their expenditure has been increased to some extent in the direction of luxuries rather than necessaries; the luxuries as a rule, have to he import-ed—motor-jears, land things of that sort.” The increased imports were also due to increased Government expenditure. The question had been raised, ho , wont on to say. “Why not use the rate, of interest as a factor for chocking undue expansion of advances To some extent this was a desirable way of dealing with such a situation, and no doubt at the present moment it was being availed of to some extent; but the legitimate requirements of the people for financial assistance were better satisfied by a steady rate, changed as seldom as possible. It was not desirable to use the rate too freely or drastically in case of excessive demands; it was bettor to chock the demand by the judicious use “No” as an answer. “It should he the endeavour of those responsible for the financial affairs of Australasia,” he proceeded to say,' “ to make steadiness of finance their watchword. Australasia has done well, hut that it has always been prudent one cannot assert. Good seasons and good prices have brought about a very prosperous state of affairs of late. It is all the more necessary to recogijfso that steadiness makes for solid well-being in our national development—steadiness in character, steadiness in progress, and steadiness in finance, public and private.” SPOILS TO THE VICTORS.

It is announced that Mr. Jacob Garrard who has been a representative of the Government on the Water and Sewerage Board, and who for a time was president of the Board, is to be superseded by Mr. John Lcitch, ®n alderman of Redfern, and some time Mayor of that Borough. The fact is only interesting as an illustration of the old-time principle of spoils to the victors. In the old days before Federation -Mr. Garrard was a pillar of the froetrade party in Now South Wah-s, and hold Ministerial office under Sir George (then Mr) Reid. Then, as a reward for party services no doubt, he was appointed to the. comfortable position of president of the Water and Sewerage Board, which carries with it a large salary, Later on, with a change of Government, another presi-j dent was appointed, but Mr. Garrard still remained as one of the Government representatives, for which ho received £1250 a year. Ho is recognised as one of tho best and most experienced members of the Board, but now ho has to go to make room for a nominee of tlie Labour Government. This nominee is Mr. John Lcitch, a friend of the Premier’s. Mr. Leitch lias been secretary of Mr. McGowcn’s election Committee at Redfern for a good many years, and latterly has acted as chairman of the committee. Mr. Leitch is admirably qualified for the position, he says, having been a builder and a contractor and knowing quite a lot about sewerage matters. PREFERENCE TO UNIONISTS. The fight over preference to Unionists between tho Legislative Assembly and the Council resulted in a compromise being arrived at. A conference was held, and the result is that rho principle of preference to unionists is recognised now by the law in the State of Now South Wales. When the Industrial Arbitration Bill was before the Council it struck out tho clause which gave preference to unionists almost unconditionally. The conference agreed to the clause being eliminated and the following inserted in its place: 1 ‘ Preference of employment shall be givoi; to members of any industrial union of emplqyeof; over other persons offering their labour at the same time,-' other things .being equal, provided that where any declaration giving such preference of employment lias boon made in favour of an industrial union of employees such declaration shall ho canrolled by the. Court of Arbitration if at any time such union, or any substantial number of its members, takes part in a strike, of instigates or aids any other pen-sons in a strike, such Court may suspend suck declaration foi such a period ns it may deem just,” The conference also agreed to insert the following now clause, viz., “Iho Minister may also as prescribed, constitute a conciliation committee for any occupation or calling in which more than •'OO persons are employed, other than cold or metalliferous mining, and such committee shall be appointed in the manner, and shall have the powers mentioned in sections 39, 40, and 41 of t|iis Act.” In the Bill as originally framed, the right to strike was recognised, but the Government has given away the right to strike in retnjm for the clause extending the scope of conciliation committees. “Preference,” explained Mr. Bcshy after the Conference, “ was granted on certain conditions. The provision which allows unions optional registration, which carries with it the right of an unregistered union to strike, was abandoned to the Council upon it agreeing to extend the right to appoint conciliation committees to all industries which more than .-09 men are employed other than coal <>(-■ m;-),al!iform;fe mining. The Bill was passed in its ijcw form. The Council struck out the Clause giving clerks and rural workers the same privileges as other classes of workers under the I Act, but the Government intends to ! introduce next session an ain«ii4U: ; ; Bill designed sp' cially to benefit doricI al and rural workers. SPELLING REFORM.

! Certain reforms in spelling arc to be 1 introduced by the Victorian Education i Department. The Director of Educa- ; tion in chat State, Mr. late, author- | isos the "n” to he omitted in sr.ch

words as “honour” and “favour.” “■Plow” is to take the place of “plough,” and “center” and “program ” are to be the correct forms in future. Some of the loading education authorities in Victoria and other j States condemn the innovation. In regard to “ honor ” and “ favor ” no obj joction is found, indeed, these words have been spelt that way for years | past, probably more often than in the f old way. The now way of spelling the y other words mentioned has been _ in [ vogue for a long time in America, where most of the “spoiling reformers” live. Among these reformers are men like Mr. Roosevelt and Mr. Andrew Carnegie. I remember receiving a letter from Mr. Carnegie a few years ago, in which ho used the expression : ‘ '1 Ins is all rite’ ; and when I read it I fe.t inwardly sorry that a man who should he sncli a multi millionaire should ho such an illiterate man. Afterwards 1 learned that Mr. Carnegie was a disciple of spelling reform, and frith some difficulty I forgave him. Old habits die hard with most of us: wo cling fondly to old forms, in spelling as m other' things. But, as Dr. A. A. A pinall, Principal of Scots College, Sydney, remarks, it is certainty tax upon the memorising abilities of boys who have to learn words whose spelling receives no phonetic help, and it would no doubt ho a o-rcat aid if hoys could spell as_ they pronounced. “ But our language is not like it,” savs ho. “The glorious literature of our Empire is based upon our'present vocabulary, which has orown through successive stages, and a conversion of our language to the phonetic system would seuouslj 1 pair the ability of future K™ e rati ; «is to appreciate and understand our great works.” In reply to a question that phonetic shorthand would ho a 10lp■ 0 hoys, Dr. Aspinall saidl would not allow phonetic shorthand to be taught here because mv boys would never he able’ to spell in longhand 'properly. Klim’s College is teaching a non-plion-cticWera, which I think I will introduce here, because it would not ma w boys bad spellers. Of course inth some of the simplified words m Amuica little fault can bo found, and when you read up-to-date American hooks you are not appalled by the spelling chan..■cs, they are so simple. \cs, are simple enough, it ,s true. Ho' beautiful in its simplicity, lor instance, is the word “thru.” Whore arc wo to stop ? If “plow” for “ plough, iM> not “dow” for “dough ?” And why n otP , . . But let us stop rite here.”