AUSTRALIA'S PROBLEMS.

Press, Volume LXVI, Issue 20097, 28 November 1930, Page 13

AUSTRALIA'S PROBLEMS.

BASIC WAGE INVESTIGA- | TION. WIDE ORDER OF REFERENCE. (UWITBD FKK3S ASSOCIATION —BY ELECTBIO TICLEOKAFH —COPTKIQHT.) (Received November 27th, 11 p.m.) CANBERRA, November 27. Fn the House of Representatives, Mr K. J. Fenton, Acting-Prime Minister, replying to n question concerning the suggestion for inflation of the currency, said: "The public would be made fully, aware of the Government's proposals next week, following our conference with the Commonwealth Bank Board." The Government intends to rppoint a Royal Commission to enquire into questions relating to the basic wage, embracing banking, finance, and national income, productivity of Australia distribution of costs of trading and financial institutions, the effect of tariff's and bonuses, the effect of varying exchunge rates on Australian monetary values, and other aspects determining price levels and the cost of living.

HEAVY DEFICIT EXPECTED. DIFFICULT POSITION IN NEW SOUTH WALES. (Received November 27th, 9.30 p.m.) SYDNEY. November 27. In the Legislative Assembly the Premier and Treasurer, Mr J. T. Lang, sought £13,248,240 supply for four monchs. He said: "We are faced with a most embarrassing position \Ve owe by way of overdraft and immediately maturing advances and local Treasury bills £1 1,798.537. If London Treasury bills due on December 31st and March 2nd be added, our total obligations nrnoiint to frh*. staggering sum of £15,342,789.'' Mr Lang declared that the Government was determined to stop the drift il it were humanly possible to do so, irrespective ol whom it offended. He estimated that the net deficit for 19303J would amount to £7,784,612. It seemed impossible to bridge this deficiency in the current financial year, but every effort would be made to do so.