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Hokitika Guardian, 17 April 1925, Page 2

Some time ago the announcement was made that the National Mutual Life Office hud acquired the Australian business of tlie New York Life Insurance Company. 'J hen it was disclosed that one of the terms of the contract was that the New York Company had to hand the National Mutual Life Association £7-10,000 in gold before the end of March, 192-5. It is now reported in Sydney that a consignment o' gold of * £500,000 received there from America recently by Dalgety and Co., Ltd., as part of a total consignment of £768,000, was in connection with the transfer of funds between the tv o life offices. It is asserted that the amount of gold actually paid to the National Mutual Life Office was £383.000, which was handed over to that n.sso iation’s branch office, Sydney. The balance is said to have been settled by Dalgety and Co., by cheque under arrangement with the National Life Association, A compilation of the gold so far received and Including the purchases of sovereigns in South Africa, shows that approximately £7,000.000 in gold has been imported by different Australian financial institutions since the first shipments were ordered from the United States. In its February circular the National City Dank of New York comments upon the extent of these shipments of gold to Australia. It Mates that the Commonwealth gold output, though now much reduced from that of formerly, is still ample in the long run to supply the domestic monetary stock. The hanking position was that various Australian houses had large credits in London, hut were short of cash at home, creating a tight monetary position. Had -London been on a gold basis shipments thence of gold would have kept the exchange down to approximately the cost of transfer. In the absence of free gold exchange on Australia had commanded a premium of 3 to 4 per cent in London. Tlie purphases of United States gold, it was

contended, showed the advantages that would inure to the Empire hy having all countries hack upon a gold footing.

“Consumption is a preventable tragedy. Properly tackled, it could be wiped out within a generation,’’ said Mr G. F. Earp, AI.L.C., president of the New ■South Wales branch of the National Association for the Prevention and Cure for Consumption, before a recent sitting of the Royal Commission ori Health at Sydney. Mr Earp advocated village settlements for tubercular cases, a central tuberculosis bureau to direct the campaign against the disease, the training of nurses specially for tuberculosis work, the coordination of dispensaries and sanatoria. encouragement of the earliest possible noiPication of all cases of tlio disease and adequate governmental provision for the families of afflictec wage-earners. Mr harp said that consumption found its chief cause in slum life. To remove the cause it would he necessary to destroy the slums, to provide sufficient accommodation elsewhere for the residents thus dispossessed, and to guard against their turning their new dwelling-places into slums. The system of village settlements had been successfully adopted in several English instances. If adopted in New South Wales it would give the consumptive an opportunity of regaining his health out in the fresh air and sunshine. If single, he would ho accommodated in a hostel; if married, in rent-free premises to which he could bring his entire family. He would have open-air occupation suitable to his strength, proper medical attention, and social intercourse sufficient to prevent his perpetual brooding on the apparent hopelessness of his case. As his strength returned he would be g : ven work that would gradually make him sell-support-ing. To inaugurate the settlement scheme locally the Health for Consumptives movement had obtained a, promise of suitable land from the Government. and was appealing for £AO,OOO liv public subscription. Tile principal s' homo is to allow families to live their normal lives in chalets, each of which will cost £-100 to erect.