AUSTRALIAN.

Hokitika Guardian, 30 September 1921, Page 1

AUSTRALIAN.

VARIOUS CABLED ITEMS , AUSTRALIAN AND N.Z. CABLE ASSOCIATION. KM PLOVERS’ PHILOSOPHY. SYDNEY September 21). At the annual meeting of the New South Wales Employers’ JAnloration. tlie President, in his address, attributed the unemployment in Sydney to an insecurity of the reasonable returns for capital employed and lo an un-iicro.-sarv irritating interference from the Government's legislation, which was preventing the growth of many existing undertakings and the creation of new uiies lie denounced tin* 11-hnur week. He stat’d that unemployment- was greatly aggravated hy the Government 1 amending tin* Eight Hours Day Act to permit the 1 l-lnmr week, which he said, was being forced upon the community. Tho President suggested as a remedy for strikes that a clause he inserted in every award providing that j the award should not continue in force after a claimani hud been guilty of striking. j ' He concluded that the industrial out-; look was anything but bright. I LORD NORTH CL IK EE. » MELBOPHNE, September 2D. j Lord Xorthcliffe hpd an interview with Mr Hnfiies. lie paid a tribute* to tlie people of New Zealand and Australia, saying that they were natural genuine, independent. noil-imitative and sentimental. He was particularly impressed hy the solicitude tor returned soldiers at the Melbourne Show and the Rnmlwick races. ELDER A L FINANCE. I MELBOORXE. Sept. 29. In the Federal House of Represent:!- ! lives. Sir J. Cook delivered his Budget. which showed the revenue for the past year at £93.31 7,908, being £2.1 32. !>>S in excess of the estimates. The <x_ pend it tire out of the revenue amounted to £04.021.087. thus being £4.218,191 loss* than lie had estimated. It tl.us left a surplus of €893.321. The ac ; cumulated surplus now was £0.018.317. lie estimated the revenue for 192122 would amount to €01.78* .330. pml tin’ expenditure out of revenue be estimated at £01.001.038. Ho estimated ai deficiency for Jhe current year of £2.817.108. This would leave an estimated accumulated surplus of £3.801.210. !

111 c expected the aggregate' < ' penditure hy the (Vnimomvenlth this year | would he £11,170.082 less than last- ! \ pa r. The proposed Government expenditure includes £7.0(10.000 for sohiior land «H*t (lenient ; € 1.000.000 for war vervico homes. The gross Federal public debt at the end of last: year amounted to £lOl.720.023. This included a war debt of €3'*9.000.719. Bir .1. Cook struck an optimistic note bv stating the economic strain was easing. He said it looked as if Australia was turning the fifnain ial corner. “Tint.” he added. “Unless ?om”ihing is done 0* relieve us *af the tremendous handicap of military armaments, we may as surely lose the e, ononiic struggle as we won the military one.*' lie added that some concession and r'ad just ment in the incidciur <»f taxation was proposed, including ••elief in the case of the miining ventures.

The income of the primary pMsduco?s would in future h<» taxed on a liveyears' average basis. The rate of taxation would not lie calculated hy reference to the incomes during any yearprior tin 1920-21.