CAUSES OF SLUMP
AUSTRALIAN PREMIER’S REVIEW OPTIMISTIC NOTE STRUCK CANBERRA, Thursday. Addressing the Premiers’ Conference, the Prime Minister, Mr. J. H. Scullin, dealt with the depression from which Australia is suffering. He said:— “We are feeling the effects of overborrowing. Our difficulties are accentuated by the poor season, the smaller wool clip, reduced wool prices, an unresponsive loan market, and also one serious industrial dispute. “However, recent rains in all parts of Australia indicate that the outlook for the agricultural and pastoral industries probably is brighter than for years past. A return to normal conditions may be expected at no distant date. Mr. Scullin advanced various means for effecting economies in the cost of administration, such as electoral cooperation, one tax-gathering authority and the assembly of the AgentsGeneral in London under one roof at Australia House.
The Premiers of the different States then expressed the hope that the conference would first begin an examination of the Commonwealth’s financial position in order to arrive at a common ground for the restoration of confidence in England. This course was taken immediately, the conference continuing in camera.
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Bibliographic details
Sun (Auckland), Volume III, Issue 903, 21 February 1930, Page 11
Word Count
184CAUSES OF SLUMP Sun (Auckland), Volume III, Issue 903, 21 February 1930, Page 11
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