DIPLOMATIC CIRCLES ANXIOUS

Dominion, Volume 21, Issue 129, 29 February 1928, Page 11

DIPLOMATIC CIRCLES ANXIOUS

THE TROUBLE BETWEEN AUSTRIA AND ITALY “COMPLEX, CURIOUS GROUPING” London, February 27. The “Daily Telegraph” says that a serious view is taken of the AustroItalian dispute, which is causing a good deal of anxiety in diplomatic circles. The possibility of armed conflict at the present juncture may be scouted, owing to Austria’s absolute disarmament. The recall of the Italian Ambassador does not signify a diplomatic rupture, but the possibility of his not returning to his post for the time being cannot be ruled out, because behind every smouldering question is a potential cause of conflict of serious magnitude. Austria has the sympathy of the Little Entente in anv grievance against Italy or Hungary. Furthermore, she is assured of German sympathy in the case of the Southern Tyrol as well as French sympathy in any quarrel with Hungary. It is a complex, curious grouping, fraught with no inconsiderable perils to tire peace of Danubian Europe and a good deal else.

AUSTRALIAN FINANCE — <5ADVICE TO GOVERNMENTS “EXPENDITURE MUST BE WISE EXPENDITURE” Hobart, February 28. Sir Wallace Bruce, chairman of the Associated Chambers of Commerce, at the opening of the annual conference of the Associated Chambers, said:. “The burden of Government imposts in the Commonwealth as a whole is heavier this year than at any previous time. During times of prosperity Governments should be as stringent as possible in expenditure of loans funds.. It is noteworthy that the two industries which represent the basis of our prosperity, wool and wheat, are among the very few industries which are. not in receipt of direct or indirect assistance.” During the ten years 1916-26 the indebtedness of the 'several Governments of Australia, he said, increased by £565,000,000, which represented an average of £56,000,000 per annum. It was indisputable that a regular augmentation of Australia’s wealth on such a scale had contributed materially to the briskness of trade and industry in recent years. That such a rate could not be continued indefinitely was evident to everybody seized of the position. Many responsible persons and organisations' throughout the Commonwealth had persistently sounded a warning note. From the necessity of the financial position imposed upon them the Governments were forced to act upon this recommendation. This sudden curtailment was seriously felt in many directions. He appealed to the Governments to let their expenditure be wise expenditure, not that wasteful, non-pro-ductive way of spending money which had been too common since the war.