COMMONWEALTH GOVERNMENI
DIGEST OF DECISIONS
AND ANNOUNCEMENTS
IMPORTANT SPEECHES
THE PRIME MINISTER
( THE RIGHT HON. J. B. CHIFLEY).
No. 133.
PERIOD 11THt DECEMBER. 1947, TO 4m FERRUARY, 1948.
Wr Ailibhtht
L F. loumm. Commowealth Gornmmt Printar. Cazbom
( Priatd in Amtralia.)
I -9
ANTAROT ICA.
EXPEDITION-PROGRESS.
On 11th December, 1947, the Minister for External Affairs ( Dr.
Evatt) announced that the Wyatt Earp, mother ship of the Australian
National Antarctic Research Expedition, would leave on 13th December,
1947, for a summer reconnaissance along the Australian sector of
the Antarctic Continent.
On 15th December, 1947, Dr. Evatt announced that the advance
unit of the Australian National Antarctic Research Expedition reached
Hleard Island on l1th December, 1947, and had established a food
-depot. On 2nd January, 1948, Dr. Evatt announced that the Wyatt Easy
had been recalled to Melbourne by the. naval authorities. The vessel
had developed a leak in the hull which made it necessary for her to be
overhauled in dry dock.
On 25th January, 1948, Dr. Evatt said that he had conferred with
the Leader of the Australian Antarctic, Expedition ( Group-Captain
S. A. Campbell) who had reported to him the recommendations of the
Planning Committee which had -met on 23rd January, 1948. He had
approved variations in the programme of the expedition for the
remainder of the summer as proposed by the committee. The committee
had considered a report by the Department of the Navy regarding the
condition of the Wyatt Earp which had been in dock undergoing repairs
following her recall from Antarctic waters. Naval authorities were
satisfied that the Wyatt Earp was fully capable of carrying out her
duties. The Wyatt Earp would, subject to comprehensive trials being
successfully completed, leave Melbourne about 6th February, 1948, to
carry out reconnaissance in the eastern sector -of the Australian
Antarctic territory. If practicable, the old magnetic station at Commonwealth
Bay would he re-occupied, or magnetic observations would
be taken in some other suitable region. On the return journey, the
Wyatt Earjs would visit the IBalleny Islands and make a survey.
The Naval landing craft LST3501 had received damage to her
plates at Heard Island. She would go into dry dock and would leave
for Macquarie Island during the last week in February to land a party
, of fourteen scientists to stay there during winter.
( For earlier references, please see No. 126, page 5; No. 129, page 37.)
AUSTRALIAN MILITARY FORCES.
AWARDS FOR GALLANTRY.
On 11th December, 1947, the Governor-General announced the award
of the George Cross to Captain L. C. Matthews.
MILITARY BOARD-APiPOINTMENT.
On 4th February, 1948, the Minister for the Army ( Mr. Chambers)
announced the appointment of Major-General G. F. Wootten as a member
of the Military Board, as an officer of the Citizen Military Forces.
( For earlier references, please see No. 108, page 17; No. 110, page 8.)
FIGHTING FORCES.
RECONSTRUCTION TRAINING SCHEME-FIGURES.
On 11th December, 1947, the Minister for Labour ( Mr. Holloway)
said that the present position of the Commonwealth Reconstruction
Training Scheme for post-discharged ex-service personnel was-
Total number accepted for training to 31st October, 1947-Full-timne training
68,313, part-time and by correspondence 138,273, total 206,588.
Total number commenced courses as at 31st October, 1947-Full-time training
48,846, part-time training 125,227, total 174,073.
Total number completed and at work at 31st October, 1947-33,205.
The difference between the 174,073 and the 33,205 ( with the exclusion
of those who changed their minds or left their State or country)
were going through their courses.
( For earlier references, please see No. 127, g~ age 29; No. 128, page
. PETROL SUPPLIES.
RATIONING SYSTEM-REDUCTION, DECEMBER, 1947.
On 11th D~ ecember, 1947, the Prime Minister ( Mr. Chifley) said-
" It -is imperative that the cut of 10 per cent. in petrol, effective
from 1st January, 1948, should be very real and reflect itself immiediately
in the monthly consumption of -petrol through Australia. The
Government realizes that there may be some very exceptional cases
where special licenees will need to be grantcd to compensate for a portion
of the cut. However, such licences will be granted only in the most
exceptional circumstances and there will be no possibility of granting
special licences to class 2 ( private motorists) and classes 3-7, including
business cars and business-pleasure groups.
The Government is doing its utmost under very difficult circumstances.
Its objeetive is to spread the sacrifice over the whole community.
The Government asks consumers to play their part and
rigidly confine their purchases to the reduced licence gallonage under
the new scale."
On 12th December, 1947, Mr. Chifley said-
A satisfactory arrangement has -been concluded with the oil industry
for the checking of resellers' petrol coupons at the oil companies'
main terminals and branch offices. This work will be carried out under
the supervision of the Liquid Fuel Control Board inspectors. As a
result of this arrangement, the coupon system will be brought under
complete control and coupons surrendered by resellers on receipt of
deliveries into their tanks will be checked and verified within a few
days after the date of each sale. Advices are being issued by the companies
to the resellers of the new arrangements, which become effective
immediately. It will be necessary for resellers to return their coupons in
bundles of uniform quantity ( say 100 gallons) and each denomination
will need to be kept separately. Liquid Fuel Boards are being instructed
to take immediate action direct with resellers in the event of any inaccuracies
being detected. The reselling of petrol will, like other
rationing, be under an imprest system and any deficiencies will be
deducted from the immediately following delivery into resellers' tanks
OIL-SYNTHETIC PRODUCTION.
On 12th January, 1948, Mr. Chifley said-
In May, 1947, following consideration of the matter by the Minister
for Supply ( Senator Ashley), the Minister for Post-war Reconstruction
( Mr. Dedman) and myself, an inter-departmental committee
was appointed to report to Cabinet on the general problems of fuel
research in Australia.
Cabinet to-day considered the committee's report which stated
that, at this stage, it was unable to recommend any concrete proposals
for the production of synthetic fuels. It considered it was impossible to
decide what experiments should be undertaken. until extensive investigations
had taken place both in Australia and overseas.
Cabinet adopted the following recommendations-in regard to the
administrative organization considered desirable to enable the formulation
and development of future fuel policy-
The Department of Supply to be given the initial administrati. e responsibility
for the formulation, for the consideration of Cabinet, of Commonwealth
policy in regard to fuel development; and the administration of such fuel
development or production projects as the Commonwealth may control, either
alone or in collaboration with other Commonwealth Departments or with one
or more States.
The responsible department to take such action as may be consid. red necessary
to have the question of whether or not the production of synthetic fuels
should be undertaken in Australia examined so that advice may be , ive. to
Cabinet on the policy it should follow.
It is proposed that the Department of Supply will work in close
association with a section of the Council for Scientific and Industrial
Research being established to engage in scientific research into fuel
problems. A small mission, comprising two officers selected by arrangement
with the Department of ' Supply and the Council for Scientific
and Industrial Research, will be sent abroad in the near future to carry
out investigations on the basis of which it will be possible to formulate
sound recommendations as to future fuel policy."
BRITAIN.
FINANCIAL POLICY-DOLLAR IMPORTS.
On 14th December, 1947, the Prime Minister ( Mr. Chifley) said-
" The Minister for External Affairs ( Dr. Evatt), the Minister for
Supply (. Senator Ashley), the Minister for Health ( Senator McKenna),
the Minister for Commerce ( Mr. Pollard), the Minister for Customs
( Senator Courtice) and myself conferred to-night on the basis to be
adopted for the issue of new import licences for dollar goods to he
imported before 30th June, 1948.
For the past two months there has been virtually a suspension of
the issue of import licences for dollar goods. Following consideration of
a report by the special inter-departmental committee, it has now been
decided to resume the issue of licences. A maximum ceiling figure of
very limited extent has been established for the value of new\ licences
for goods to be imported from the dollar area before 30th June, 1948.
This figure has been allocated over the various classes of goods and the
Minister for Customs will issue licences only in accordance with the
allocation. It must be emphasized that dollar licences to be issued for
importation before 30th June, 1948, will be confined to goods of the very
highest essentiality and the quantities of even these goods will necessarily
be severely limited
On 9th January, 1948, Mr. Chifley said-
Much as the Australian Government regrets liavinz to impose
restrictions on dollar imports, this action has been necessary if Australia
is to assist Britain in its present economic difficulti: es. Any failure by
Britain to meet the position that confronts it would have very disturbing
economic results for Australia and the other Dominions. Therefore,
in our own material interests-apart from sentiment and kinship
-Australia must do everything she can to assist the Mother Country
On 22nd January, 1948, the Minister for Customs ( Senator
Courticc) said that licensing of goods originating in the dollar area for
importation on or before 30th June, 1948, was being confined to indispensable
goods to ensure that the limited amount of dollars allocated
by the Government for new licences was not exceeded. Licensing of
goods to be imported from dollar countries during 1948-49 would be
oporated on a budget quota system related to imports during 1946-47.
Each importer should, before 13th February, 1948, furnish to State
Collectors of Customs statements, supported by a statutory declaration,
showing-TIlportations of dol! ar area origin during the period of eighteen months
Irultd 31st December, 1947, according to the individual specifications; and
!' Piltienlars of the quantities and value outstandin as at Ist . lunaIry,
19! k. on all valid licences issued for goods of dollar area origin including tho'e
,,' olds in respect of which statements of importations are not required.
Licences would not be issued to those importers who failed to furnish
the required statements of imports and outstanding licences.
fFor earlier reference please see Nos. 130, page 10; 131, page 24; 132, page 34. J
FINANCIAL POLICY-DOLLAR IMPORTS, PRIME
MINISTER'S BROADCAST.
On 26th January, 1948, Mr. Chifley broadcast over the National
network. Mr. Chidley said-
" Recently, as you know, the Government has imposed further
restrictions on dollar imports and, in one way or another, these restrictions
will affect most of you. You have, therefore, a right to be satisfied
that they are unavoidable and that they serve a real purpose. My desire
is to explain the position to you as simply as I possibly can.
In Australia we require dollars to pay for American and Canadian
good( s-uch as newsprint, cotton textiles, tobacco, motor chassis, and
various kinds of machinery. There are also items such a freight, film
royalties and a certain amount of interest on Australian Government
loans in New York. We earn some of these dollars by selling to the
United States and Canada commodities such as wool, rabbit-skins,
canned fruits and so on. But in most years we do not earn as many
dollars as we spend. For example, during the last trade year, 1946-47,
we received round about 190,000,000 dollars and spent about
290.000,000 dollars, so that there was a gap of about 100,000,000 dollars.
Even before the war we earned less dollars than we spent. Then,
however, Britain was able to provide us with sufficient dollars to make
up the difference. Shel sold us these dollars for sterling-English
pounds, that i. Therefore, so long as we could earn enough sterling,
we were able to obtain the extra dollars we required. That position has
greatly changed. Britain is not able to earn sufficient dollars to buy the
things she wants herself. She has, therefore, to restrict the importation
of goods from dollar sources and that imposes severe hardships on
her people. It follows that Britain is not able to sell us all the dollars
we require. . She is still selling us some of her dollars, but every additional
demand we make on her means that she has to deny her people
things that they need. It is true that Britain still has some reserves
but they are being rapidly used up. After the war she borrowed about
five billion dollars from the United States and Canada. But practically
all that lhas now been spent.
This situation has come about mainly in two ways. On the one
hand, Britain needs goods from the United States and Canada to a far
greater value than the goods she can sell there. Her industries need a
great deal of re-equipping, after being damaged by bombs and worn
generally during the war. Her export trade fell away by two-t ' rds
largely because so much of her industry was diverted to war product on.
She lost a great part of her shipping and sold most of her overs as
investments to pay for war supplies. By great efforts and much se'fdenial
on the part of her people, her exports have been increased, b,: t
not far enough to pay for the goods she needs. Most of those exports
go to countries which pay in currencies that cannot be changed into
dollars.
On the other hand, many other countries look to Britain to provide
them with dollars. All those countries devastated by the war need great
quantities of plant and materials to re-build their industries. Some
still more urgently need foodstuffs and the other necessaries of life,
because their people are barely keeping ahead of starvation. These
countries are all seeking supplies from the United States, but none of
them has enough dollars to pay for the American goods they want nor
enough goods of their own to export in return for American goods.
For a time after the war the gap was partly bridged by loans from
the United States and Canada and relief contributions such as Unrra.
These resources could not have been more than a stop-gap and they have
now come pretty well to an end.
" A number of countries have balances of English money to their
credit at London and nearly all countries acquire a certain amount of
English money in the course of their trade. To get American supplies,
these countries seek to change some of their sterling resources into
dollars. Thus, over and above providing dollars for her own needs,
Britain has to try to provide dollars for a large part of the trading
work, including ourselves. Britain could meet this dollar deficiency
only by borrowing or by drawing on her gold reserves. Actually she has
done both.
" As I have mentioned, the United States and Canada made loans
to Britain totalling about five billion dollars. These loans were intended
to fill the gap between dollar earnings and dollar expenditure until
Britain could get on her feet.
But whereas the United States loan of 3,750,000,000 dollars was
expected to last two or three years, most of it was actually spent in
about one year. During the same period, Britain was also drawing
heavily against the Canadian loan. One reason for this rapid using-up
of dollars was that American prices rose steeply, making the materials
bought by Britain very much dearer. Another reason was the bad
setback to British industry through the severe winter of 1946, which
checked export production. Then, as the United States loan began to
run out, a number of countries sought to convert large amounts of
English money into dollars within a short period and this increased
greatly the rate of drawings against what remained of the loans.
Britain, therefore, has had to face the necessity of drawing on her gold
reserves, which, by pre-war standards, are already very low. How low
they are we have lately been told by the British Chancellor of the
Exchequer ( Sir Stafford Cripps). He said in a statement to the House
of Commons on the 19th December that, at the end of 1947, Britain's
overseas reserves were expected to be about œ 500,000,000 sterling. He
has since told us that the rate of drain on these resources is still proceeding
at the rate of œ 11,000,000 sterling a week. Clearly this could
not go on for too long.
" I needl only add that even the œ 500,000,000 mentioned by the
Chancellor cannot be regarded as wholly available for spending because
sonme part of it would havc to he held as a bedrock ro'serv-e against
eincrg-enccs and to provide a mninimum wvorking fund for trade purposes.
Clearly this very small mrargin of reserves must he very carefully
husbanded. If the bedrock limit were reached, all the countries
which now obtain dollars through Britain would have to live within
their day-to-day earnings of dollars and this would cause acute difficulties
for the individual countries-for ourselves perhaps as much as
.1115oyn e.
" As I have said, we have to call on Britain in most years for
dollars to balance our accounts with the United States and Canada. The
amount varies from year to year and depends largely on how much we
sell to the United States and Canada. Wool is the main item at present.
We , sold a lot of wool to America last year at high prices. This year
weO will sell rather less, and although wool prices has risen, our total
dollar earnings will be somewhat less than last year.
If wool prices fall, our total dollar earnings might be a good deal
less and wve would either has to ask the British Government for large
amounts of dollars or else cut dollar imports very drastically indeed.
" Since much that we buy from the United States is essential to the
rining of our economny and to our future development we naturally
do not wanit to cut dollar imports too far. And yet, as things stand, We
cannot expect to draw more than a minimium * amount from the shrinking
dollar reserves available to Britain. That, briefly, is the crux of
our present position.
" Britain has taken the main burden of the dollar shortage so far.
They have cut their dollar imports very rigorously, even going' to the
length of reducing their food rations still further. But the other
sterling area countries-ourselves among them-must share this burden
with them. This is not a mere matter of sentiment, but one of sheer, hard
ncecessity. We simply could not afford to see Britain's dollar reserves run
out. Therefore we must do onr very utmost in a practical way, on the
one hand, to earn more dollars and, on the other hand, to save more
dollars. Even with the cuts imposed, and even though we are selling'
our current gold production abroad, we will not earn nearly as many
dollars as we spend this year. There will still be an appreciable gap
for which we must draw on Britain's dollar reserves. But we hope
gradually to reduce that gap as the months go by.
The action taken has inevitably caused a good deal of inconvenience
and some dislocation to trade and industry. The Government
regrets this but there was no way to avoid it. Even now it is estimated
that dollar imports for 1947-48 will reach a total of œ A901000,000 a
against œ A63,000,000 for 1946-47.
Since the basic problem behind the dollar shortage is that of
reviving the war damaged economies of the world, we cannot expect any
spectacular improvement within the near future. Those countries have
made some progress since the war ended but it has been relatively slow.
Their problems cannot be solved merely by outside help. The main
effort must come from themselves.
" Nevertheless, outside help is necessary and that is the reason for
further United States help under what is known as the Marshall Plan.
This is a proposal which aims to provide these crippled countries with
the materials they require to step up their production, the idea being
that if they can once get into their stride again they will be able to
keep moving. If the plan is approved by Congress and is put into
operation, Britain should benefit, both directly and indirectly. lcecovery
in Europe would mean that supplies of goods which she now has to buy
with dollars would become available to her from European countries.
Sir Stafford Cripps has said that Britain could look forvward to
some benefit of this kind in the latter half of 1948 if the AMarshall
Plan had by then come into operation. But that is some way ahead
yet and, in the meantime, the dollar problem! u for Britain, and for us too,
is a pretty difficult job of making ends meet.
" We can play our part in two main ways. One is to go carefully
with all forms of dollar expenditure. This particularly is a matter in
which business firms and individual citizens call do a good deal to help.
The other is to produce and export all we can, not only of goods which
can be sold for dollars but of goods which sterling area countries would
otherwise have to buy for dollars. The Government is going very
closely into the question of increasing exports along these lines and it
may be possible to do a good deal, particularly if we have further good
seasons. It is, of course, more satisfactory. to earn more dollars by
increasing exports than to save them by reducing imlports-although
as matters stand we must do our utmost at both. In expanding exports,
however, we have to keep in mind the essential needs of our own plcoplC.
Since world conditions underlying the dollar shortage will take.
time to remedy, it would be wrong for me to hold out the prospect that
import restrictions will soon be lifted or eased. We cannot ignore the
possibility that some of these restrictions may have to be tightened
further. That will not be done, however, unless it is absolutely
inevitable. We have very great interests at stake in this matter because our
overseas trade depends fundamentally on world economic conditions
and above all on the strength and welfare of Britain which, these days,
is hard-pressed to maintain the standards of living of her people. We
all want to help her to win through. As a major exporting country we
can do much by increasing the quantity of foodstuffs and other materials
we send abroad. We can also help by economizing in the use of scarce
dollar commodities. I put it to you that there is a job in this for every
one in Australia
FINANCIAL POLICY-STERLING, DEVALUATION.
On 24th January, 194S, Mr. Chifley said-
If the International Monetary Fund agrees to devaluation of
the French franc, the method of devaluation is important to Australia,
as a problem cilhi arise regarding relationship of our currency with
sterling. If the de\ valuation is carried out in certain ways, it could
result in a weakening of sterling, and if that resulted in a depreciation
of British currency, a problem affecting Australia could arise.
There have been no consultations with the Australian Government
as to devaluation of the irane, but there must be consultations with the
International Monetary Fund if devaluation is more than 10 per cent.
The move will have no effect on United States aid to Britain. It is a
purely French problem.
The real danger i~ the establishment of a double franc'-similar
to the ' double ire in Italy-which means that some proceeds of
FreniOi exports, would go to the French Treasury, while some would be
free for exporters. This would result in a ' cross rate' of the franc
against the dollar and the pound sterling. This could result in some
weakening of sterling, and depreciation of sterling would set for us
the problem of whether we would depreciate our currency in line with
sterling. There can be no answe. r until these circumstances eventuate,
bht that is the problem which might arise
On 29th January, 1948, Mr. Chifley said-
No consideration has been give. n to altering the Australian excli1ngp
rate while sterling remains at its present value. Only in the
event of a depreciation of sterling would the matter be considered.
Tlhre have been no consultations with the British Treasury on the exchange
rate.
The Australian Government shares with the British Chancellor
of the Exchequer ( Sir Stafford Cripps) his fears as to the dangers
which may arise in regard to the French open market for gold and
certain foreign currencies, unless strictly administered
THE GOVERNMENT.
ACTING MINISTERS.
On 14th December, 1.947, the Prime Minister ( Mr. Chifley) said-
The Attorney-General and Minister for External Affairs ( Dr.
Evatt) will be Acting Prime Minister; the Minister for Health ( Senator
McKenna) will be Acting Treasurer; and the Minister for Air ( Mr.
Drakeford) will be Acting Minister for Defence during my visit to
New Zealand
" r ir! C'li1tl e v \ w s ili:-nt in N' Zc( alhlind from 15th December, 1947, to 1st
MEAT.
LONG-TERM CONTRACTS WITH BRITAIN-EXTENSION.
On 15th December, 1947, the Minister for Commerce ( Mr. Pollard)
announced that the Government had completed negotiations for an
extension for two years of the long-term contract with the British
Government for the purchase of Australian meat. The original contract
was for four years ending 30th . September, 1948. Prices which
operated during the period October, 1946, to September, 1947, would
continue to operate for the October, 1947-September, 1948, period but
provision has been made in the new agreement for pig meat prices to be
subject to annual price review.
JFor earlier reference please see Nos. 109, page 8; 116, page 32.]
COMMONWEALTH BANK.
POLICY-ADVANCES.
On 18th December, 1947, the Acting Prime Minister ( Dr. Evatt)
said-The instruction recently issued by the Commonwealth Bank to
trading banks with regard to advance policy is similar to instructions
issued by the Commonwealth Bank from time to time on the same subject
since the early years of the war. During the past two and a half
years the trading banks have increased from œ 200,000,000 to
œ 320,000,000. The increase has been particularly rapid during 1947.
Since December, 1946, trading bank advances have increased by
œ 65,000,000. The Commonwealth Bank has facilitated this expansion
by appropriate central bank action. The Government has endorsed
the policy because it considered that the banks should be allowed to
finance the re-conversion of industries from a war footing to peace-time
production, to expand productive capacity for essential purposes and to
assist the re-stocking of farm and station properties.
" Recently a large amount of free money has been available in
the open market for investment, largely because of the exceptional prices
for export commodities and because of the influx of overseas capital.
The existence of this free money was shown by the fact that the Fourth
Security Loan was over-subscribed by œ 13,000,000. The Commonwealth
Bank therefore considers that while funds are so readily available in the
market for investment purposes, it is unnecessary and inadvisable that
bank advances should continue to increase as rapidly as in recent months.
In present circumstances, the Commonwealth Bank considers that
capital expansion should be financed by new issues and not by bank
overdrafts. Accordingly, in its revised instructions to the banks it has
called for a somewhat stricter application of the principles which have
formed the basis of its earlier instructions
WHEAT.
SALE TO BRITAIN.
On 18th December. 1947, the Minister for Commerce ( Mr. Pollard)'
announced that the Government had completed negotiations with the
British Governmuent in regard to the supply of wheat and flour from the
1947-4S wheat crop. The Government had accepted the offer of the
British Government for the purchase of 30,000,000 bushels of wheat
at the overall price of A. 17s. a bushel, f. o. b. Australian ports. Thequantity
represented shipments destined for British requirements and
in addition the needs of colonial and other areas for whose wheat
supplies Britain was responsible. The latter shipments would comprise'
mostly flour. Because of the magnitude of the deal and the fact that
the British Ministry of Food would provide shipping to lift all the
wheat and flour over a period of thirteen months, the Government was
justified in accepting the maximum offer which the British Government
was prepared to make. The Government felt that a contract for sucha
huge quantity should not be made on a quarterly price basis, particularly
in view of market fluctuations which could occur over a period
of twelve months.
A clause in the contract provided for an additional allocation of
5,000,000 bushels in the event that receivals by the board from the.
1947-43 harvest reached 210,000,000 bushels of f. a. q. wheat. The price
would be subject to review in the event of the participants to thecontract
becoming parties to an international wheat agreement if and
when made. Under those circumstances, the price of wheat remaining
unshipped at the date the international wheat agreement came into force,
would be adjusted to conform to the price operating under the international
agreement. SALE TO INDIA.
On 18th December, 1947, Mr. Pollard announced the conclusion of
negotiations with representatives of the Indian Food Mission for the
purchase of wheat on behalf of the Indian Government. The Government
would sell to India from the 1947-48 wheat crop 25,000,000 bushels
of wheat, including the flour equivalent of 2,500,000 bushels. The price
would be on the basis of Ai8s. 6d. a bushel, f. o. b. Australian ports, with
delivery spread over twelve months.
A clause in the contract provided for an additional allocation of*
5,000,000 bushels in the event that receivals by the board from the
1947-43 harvest reached 210,000,000 bushels of f. a. q. wheat. The
price would be subject to review in the event of the participants to the
contract becoming parties to an international wheat agreement if and
when made. Under those circumstances, the price of wheat remaining
unshipped at the date the international wheat agreement came into.
force would be adjusted to conform to the price operating under theinternational
agreement.
INDIA.
AUSTRALIAN SCIENTIFIC MISSION TO INDIA.
On 21st December, 1947, the Acting Prime Minister ( Dr. Evatt)
said-" A mission of Australian scientifists will shortly visit India. During
the Empire Scientific Conference at London in 1946, many contacts
were made between Indian and Australian scientists and, as a result,
the Government of India has invited the Australian Government to send
a goodwill mission to India to visit the main centres of University and
Government research in that Dominion and to report on scientific
development generally. Many problems encountered by Indian scientists
are similar to those Australians have experienced, and it is believed
that the exchange of views and closer contacts between Indians and
Australians resulting from a visit should prove of mutual benefit to
both countries.
" The Professor of Electrical Engineering at Sydney University
( Sir John Madsen) will lead the delegation, and other members will
be the Professor of Physics at Adelaide University, the Director of the
Waite Agricultural Research Institute ( Professor J. A. Prescott), and
Mr. R. G. Thomas, of the Council for Scientific and Industrial Research
Division of Industrial Chemistry. The Assistant Secretary of the
Council for Scientific and Industrial Research ( Mr. G. Gresford) will
act as secretary of the delegation
MOVEMENTS OF SHIPS.
. STEVEDORING COMMISSION-ACT PROCLAIMED.
On 22nd December, 1947, the Attorney-General ( Dr. Evatt)
announced that the Stevedoring Industry Act would commence on that
day. [ For earlier reference, please see No. 124, page 36.]
STEVEDORING COMMISSION-APPOINTMENTS.
On 22nd December, 1947, Dr. Evatt announced that members of the
Stevedoring Industry Commission would be-
Mr. Justice Kirby, chairman, Mr. J. M. Hewitt, deputy-chairman, Messrs.
G. G. Sutcliffe ( Department of Shipping), J. P. Williams ( overseas shipowners),
A. J. Bampton ( Australian Shipowners), J. Healy and E. C. Roach ( Waterside
Workers' Federation). INDUSTRIAL.
ARBITRATION ACT-CONCILIATION COMMISSIONER.
On 22nd December, 1947, the Attorney-General ( Dr. Evatt)
announced that Mr. J. M. Hewitt had been appointed a Commonwealth
Conciliation Commissioner.
( For earlier references, please see No. 129, page 6; No. 131, page
BASIC WAGE-FIXATION SYSTEM, PROPOSED
COMMITTEE.
On 9th January, 1948, the Prime Minister ( Mr. Chifley) said-
The President ( Mr. P. J. Clarey, and the secretary
A. E. Monk) of the Australasian Council of Trades Unions to-day
discussed with me the matter of the establishment of a committee to
inquire into the computation and adjustments affecting the basic wage.
They intimated that they proposed to discuss the matter with their
full executive next week.
" I gave Messrs. Clarey and Monk an outline of the economic
position generally and the question of increased production was
discussed. Messrs. Clarey and Monk promised their fullest co-operation."
PRIMARY INDUSTRIES.
POULTRY FARMING-AUSTRALIAN EGG BOARD,
APPOINTMENTS.
On 30th December, 1947, the Minister for Agriculture ( Mr. Pollard)
announced the appointment of the following persons as members of the
Australian Egg Board for three years from 1st January, 1948-
COMMONWEALThn GOVENMENT.-Mr. H. Souter.
COMMERCIAL ExPr'unmc.-Messrs. R. C. Blake and A. A. Osborn.
PRODUCERS.-Mlessrs. E. C. Mitford ( New South Wales) R. E. Huggins ( Victoria),
R. E. Slaughter ( Queensland), C. R. Cowell ( South Australia), W. L.
Hoops ( Western Australia) and T. M. Young ( Tasmania).
( For earlier reference, please see No. 115, page 22.)
EXPORTS TO BRITAIN-GIFTS.
On 13th January, 1948, the Postmaster-General ( Senator Cameron)
said that food parcels despatched by post to Britain in 1947 constituted
a record. The total was 3,355,933 parcels and the weight 31,874.871
lb. Previous figures were-Parcels. weight.
1945 1,313,236 6,885,713
1946 2,869,589 2&, 309.305
EXPORTS-NEW RECORD.
On 28th January, 1948, Mr. Pollard said-
" Australia's exports for the year ending 30th June, 1948, are
expected to total œ 390,000,000, compared with œ 308,000,000 for 194647
-an increase of 27 per cent. and an increase of 182 per cent. on the
average figures for the five pre-war years ended 1938-39. Details are--
WHEAT.-Estimated value of wheat and flour exports is œ 90,000,000, compared
with œ 28,900,000 for 1946-47 and an average of œ 19,900,000 for the five
p re-war years. Total volume of exports in terms of wheat may be less than
10,000,000 bushels, compared with an average of 107,500,000 bushels in the five
years ended 1938-39. The great increase in estimated value is due to the
average export price being nearly five times pre-war level.
WooL.-Exports are expected to be worth œ 133,000,000, compared with
œ 126,800,000 in 1946-47, in which year considerable shipments were made from
stocks accumulated during the war. The estimated 35d. a lb. greasy basis
compares with the 1946-47 return of 23d. a lb. and for the five pre-war years
of 131d. a lb.
BUTTER.-With a probable value of œ 16,700,000. shipments, which should
reach a total of 70,000 tons, should be worth about 60 per cent. more than in
either the previous period or the five pre-war years. when they were valued at
about œ 10,400,000. If shipments did reach 70,000 tons in 1947-48 they would
be about 26,000 less than the pre-war average but more than 10,000 tons above
the 1946-47 total. An important factor in the decline in butter exports since
pre-war is the diversion of more milk to whole milk consumption and production
of processed milk.
FROZEN MEATs.-Total exports are expected to increase from a verage of
œ 9,100,000 in the five years ended 1938-39 and œ 10,500,000 in 1946-47 to
œ 13,500,000 in the current period. Beef and veal shipments, estimated to total
90,000 tons, will be nearly 10,000 tons more than in the previous period, but
about 17 per cent. lower than before the war, when they averaged 106,000
tons. Mutton and lamb. estimated at 70,000 tons, will he about 15 per cent.
below the pre-war average of nearly 86.000 tons. The increased value of meat
exports is due to an increase of about 90 per cent. in export prices.
CHEESE.-Average shipments in the five pre-war years were 9,540 tons,
worth œ 63 16s. a ton. For the current period, cheese exports are expected to
reach 24,000 tons. at an estimated average price of œ 120 2s. a ton, the estimated
total value for the season being nearly œ 2,900,000.
EGGS.-For tile five pre-war years. shipments of eggs in shell averaged
15,400,000 dozen valued at 13.52d. a dozen and eggs not in shell averaged 505,000
lb. worth 7.9d. a lb. Estimated shipments to Britain for the current season are
21,000,000 dozen eggs in shell at 2s. Id. a dozen, 20,000,000 lb. egg pulp at
Is. 61d. a lb., and 2,000.000 11. egg pulp at 4s. lljd. a lb. New Zealand is
expected to take 3,500.000 lb. egg pulp at ls. 7d. a lb. Total value of egg
exports is estimated at almost œ 4,800.000.
DRIED FRUITs.-Because of bad seasonal conditions, dried vine fruits' exports
are expected to be below pre-war average in volume but higher in value.
Current period's shipments are estimated at 45.000 tons worth œ 2,800,000, compared
to pre-war average of 58,245 tons worth œ 2,200,000.
( For earlier references, please see No. 115, page 22.)
WAR WITH JAPAN.
BRITISH COMMONWEALTH OCCUPATION FORCEADMINISTRATION.
On 31st December, 1947, the acting Minister for Defence ( Mr.
Drakeford) said that the British Commonwealth Governments whose
troops were taking part in the occupation in Japan recently reviewed
the system for the control and administration of the British Commonwealth
Occupation Force. They had decided to modify the organization
for combined control by the governments concerned.
It had been agreed, subject to the continued retention by the participating
governments of sovereign control of their own policy and full
consultation when their interests were affected, that responsibility for
the control and administration of the force would be assigned to the Australian
Government to be exercised through the Department of Defence
in relation to joint-service matters and through the Departments of the
Navy, the Army and Air in regard to matters within their respective
spheres.
The new system would be introduced in January, 1948. The Joint
Chiefs of Staff Committee in Australia, which had planned for and
controlled the force on behalf of the British Commonwealth Governments,
would be dissolved when the new system was introdn~ Ai.
Service representatives of other participating British Commonwealth
Governments would continue to be associated with the Australian
machinery for consultation and advice in connexion with their respective
countries' interests.
BRITISH COMMONWEALTH OCCUPATION FORCECOMMANDER-
IN-CHIEF.
On 8th January, 1948, the Prime Minister ( Mr. Chifley) said-
Approval has been given for the Commander-in-Chief of the
British Commonwealth Occupation Force in Japan ( Lieutenant-
General H. C. H. Robertson) to be absent from his command during
January and February, 194S. Lieutenant-General Robertson will
return to Australia for duty and leave and will visit New Zealand to
discuss with the New Zealand Government matters affecting the disposition
of its troops in Japan.
" During Lieutenant-General Robertson's absence from Japan, the
Air Officer Commanding the British Commonwealth Air Forces ( Air
vice-Marshal C. A. Bouchier) will act as Commander-in-chief of the
British Commonwealth Occupation Force."
ROYAL AUSTRALIAN AIR FORCE.
AWARDS FOR GALLANTRY.
On 2nd January, 1948, the Governor-General announced the following
awards:-
Air Force Cross.-Flying Officers C. W. Stark, J. G. Cornish, D. R.
Hebbard, A. J. Somerville, A. Starkey, G. Tuck.
EXTERNAL COMMUNICATIONS.
TELE-COMMUNICATIONS-COUNCIL.
On 7th January, 1948, the Postmaster-General ( Senator Cameron)
announced that the Deputy Director of Posts and Telegraphs ( Mr.
F. R. Bradley), had been appointed Australian Representative on the
Commonwealth Communications Council at London.
( For earlier references, please see No. 124, page 28.)
TARIFF.
EXPORTS PROHIBITED.
On 8th January, 1948, the Minister for Customs ( Senator Courtice)
announced that the export of maize and maize products, motor vehicles,
partly or wholly assembled, and spare parts and accessories, and duplieating
and blotting paper had been prohibited.
730.-2
PRICES.
& OODS " DECLARED "-BIRD SEED, REVOCATION.
On 9th January, 1948, the Minister for Customs ( Senator Courtice)
announced that ' bird seed had been removed from price control.
AMERICA.
VISIT OF ROYAL AUSTRALIAN NAVAL OFFICERS TO
PEARL HARBOUR.
On 9th January, 1948, the Prime Minister ( Mr. Chifley) said-
Six Royal Australian Naval officers will fly to Pearl Harbour to
join U. S. S. Valley Forge and take passage in her from Pear] Harbour
to Sydney. The Valley Forge is the flagship of the American Task
Force due to arrive in Sydney on 30th January, 1948. This is in continuation
of the very close liaison wvhich existed between the Royal
Australian Navy and the United States. Navy during World War II.
" The officers, the senior of whom is Captain W. H. Harrington,
will be able to observe the American Task Force during its operations
at sea on passage. The kind invitation extended by the Commanderin-
Chief of the United States Pacific Fleet will do much to further the
close and cordial relations existing between the Royal Australian Navy
and the United States Navy."
COMMONWEALTH OFFICES.
MELBOURNE.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
" Cabinet to-day authorized the Minister for the Interior ( M1r.
Johnson) to proceed with the acquisition of land of an area of about
94 acres, bounded by fSpring, Victoria, Latrobe, Exhibition and Lonsdale-
streets, Melbourne, for Commonwealth office -purposes. The land
is occupied by buildings, factories and residences, generally old and of
poor class. Development of the site for Commonwealth purposes will
be undertaken in stages. It is not intended to disturb owners or
occupiers for some time as it is not likely that the first stage of the
new office ' building will be commenced for about two years. Since June,
1946, the ' Commonwealth has acquired properties, such as the Oddfellows
Building, Reliance House, Chancery House and Henty House,
and it is intended to dispose of these and concentrate activities in the
new offices when erected." HEALTH.
ACOUSTIC LABORATORY.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
In 1946, Cabinet approved of the Department of Health taking
over the acoustic laboratory at Sydney from the National Health and
Medical Research Council. At the request of the Department of
Repatriation, the activities of the laboratory have included the servicing
and maintenance of hearing-aid equipment for ex-servicemen.
Branch laboratories at Perth and Melbourne have been established.
Cabinet decided to-day to establish the acoustir laboratory service
to handle work for the Department of Repatriation at Sydney, Melbourne,
Brisbane, Adelaide and Perth."
( For earlier references, please see No. 115, page 34.)
MINING.
MICA INDUSTRY.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
Cabinet decided to-day that Commonwealth control of the mica
industry be continued for a further period of one year from 1st
January, 1948. The matter will be further reviewed before the expiration
of that period. Twenty portable air compressors will be obtained
from the Commonwealth Government from stocks at present availa-
ble in Australia for outright sale or hire purchase to mica-miners.
Mica is a strategic mineral of first-class importance and development
of the industry is essential in Australia both for national development
and defence."
( For earlier references, please see No. 11, page 14; 118, page 25; 126, page 42.)
URANIUM.
On 12th January, 1948, Mr. Chifley said-
Under the Atomic Energy ( Control of Minerals) Act, the Commonwealth
Government took power in 1946 to control production and
distribution of uranium, thorium, plutonium, or any of their respective
compounds or other substances which may be used for the -production
of atomic energy.
Following discussions in 1947 with the State Departments of
Mines, a programme of investigation of resources of radio-active
minerals has been carried out in Australia. The more important
localities of investigation are the beach sands of the east coast of Australia
( thorium), the Mount Fainter and Radium Hill areas of South
Australia ( uranium), and the Port Hedland area of Western Australia
( uranium and thorium).
Cabinet decided to-day that the following rewards be approved in
connexion with the discovery of uranium ore.-
A reward of œ 1,000 for the discovery of any new deposit of uranium ore
which, in the opinion of the Minister, is of economic significance. A new deposit
to be defined as a deposit more than 15 miles from any known occurrence.
A reward of a further œ 2,000 for discoveries which, in the opinion of the
Minister, are capable -of producing 25 tons of uranium oxide, and a pro rata
payment for any additional quantities in excess of 25 tons of uranium oxide.
730-3
" 1The Minister will reserve the right to make payments of amounts
to be determined by him to discoverers of new deposits which, although
themselves not capable of yielding any substantial quantity of uraniumn
oxide, may lead to the discovery of other deposits of importance."
( rar earlier references, please see No. 112, page 48.)
LEAD-CONTROL.
On 12th January, 1948, Mr. Chifley said-
The supply position of lead is very difficult in Britain and lead
exported by Australia takes the place of that which would have to be
procured by Britain from Canada and Mexico, involving the expenditure
of dollars. The matter was dealt with by Cabinet in July, 1947y;
but the Minister for ' Supply ( Senator Ashley) informed Cabinet to-day
that there was evidence of dealers continuing to hold scrap lead.
Cabinet decided that a further census of scrap lead be taken and
dealers be required to, furnish details of their holdings at quarterly
intervals thereafter. Export licences will be granted in respect of
per cent. of declared holdings provided that holders furnish satisfactory
evidence that the balance, including 50 per cent, of antimonial lead,
has been sold for consumption in Australia. It is estimated that
accumulated stocks of scrap lead in Australia amount to about 8,000
tons, which could be turned to considerable advantage in the present
dollar crisis." MIGRATION.
GOVERNMENT POLICY-TRANSPORT BY AIR.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
Cabinet to-day approved of the Minister for Immigration ( Mr.
Calwell) approaching the British Government to ascertain its views
regarding the transport of British migrants to Australia by air. After
full investigation the matter will be again submitted to Cabinet for
final consideration SHIP BUILDING.
PROGRAMME-FURTHER REVISION.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
Cabinet approved to-day of the construction of four additional
class motor vessels to be propelled by the Doxford type diesel
engine-making a total of twelve of this class of vessel ( six diesel and
six steam) in the Australian shipbuilding programme. Cabinet also
approved of the construction of four C class vessels, two of which
will be propelled by double-compound reciprocating marine engines and
two by N-E type marine engines
CIVIL DEFENCE.
BOMBING-COMMITTEE APPOINTED.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
In October 1947, confidential documents were received by the
Minister for Works ( Mr. Lemmon) from the British Ministry of Works
giving an analysis of damage caused by bombs, including the flying
bomb and rocket projectiles, and of the effect of atomic bombs.
Cabinet decided to-day that a Cabinet sub-committee comprising
the Minister for Defence ( Mr. Dedman), the Postmaster-General
( Senator Cameron), the Minister for the Interior ( Mr. Johnson), the
Minister for Works ( Mr. Lemmon) and. myself be appointed to arrange
for a group of senior officers with specialized knowledge to be appointed
from appropriate departments to advise the Cabinet sub-committee".
ROYAL AUSTRALIAN NAVY.
FIRST NAVAL MEMBER.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
" In August, 1944, War Cabinet decided that, on the completion of
the term of appointment of Admiral -Sir Louis Hamilton as First Naval
Member, an officer of the Royal Australia * n Navy should be appointed as
First Naval Member and Chief of the Naval Staff.
Cabinet decided to-day that Rear-Admiral J. A. Collins be
appointed as First Naval Member and Chief of the Naval Staff. Rear-
Admiral Collins has just completed an Imperial Defence College course
in Britain ( ror earlier references, please see No. 99, page
SOUTH-EAST ASIA.
SCHOLARSHIPS.
On 12th January, 1948, the Prime Minister ( Mr. Chifley) said-
Cabinet decided to-night that provision be made for the establishment
of three Australian scholarships for students from South-east
Asian countries. The scholarships will be founded by the Commonwealth
Government at Australian universities; the approximate annual
cost being estimated at œ 5,000. It was considered that the provisions of
opportunities in Australia for the students concerned would give further
practical evidence of the goodwill of the Australian people towards the
peoples of the countries concerned, such as India, Pakistan, Burma,
Malaya, Ceylon, -Siam, Philippines and Indonesia. Arrangements for
the selection of scholars and their welfare in Australia will be worked
out by the Department of External Affairs and Post-war Reconstruction
in co-operation with consular or diplomatic representatives
RECONSTRUCTION.
BRETTON WOODS AGREEMENT-INTERNATIONAL
MONETARY FUND AND BANK DIRECTOR.
On 13th January, 1948, the Prime Minister ( Mr. Chifley) said-
" Australia is eligible to participate in an election for the fourteenth
Director of the International Monetary Fund and International Bank
respectively. It is proposed to nominate the Secretary to the Treasury
( Mr. S. G. McFarlane) for the executive directorship of both organizations.
It is intended that the Commonwealth Statistician ( Dr. R.
Wilson) will be the alternate director should Mr. McFarlane be elected.
The tenure of office will be until September, 1948
( Mr. McFarlane was later elected unopposed.)
GOVERNMENT'S PLANS-SECONDARY INDUSTRY,
DIVISION OF INDUSTRIAL DEVELOPMENT.
On 21st January, 1948, Mr. Chifley said-
" The Chairman of the Secondary Industries Commission ( Mr.
J. K. Jensen) has discussed with me the position of manufacturing
industries in Australia, having particular regard to their greatly
increased importance relative to the Australian economy as a whole and
to the fact that the condition of full employment now being experienced
will tend to reduce the tempo at which sound expansion of manufacture
can take place in the near future. We have also discussed the danger
inherent in the present situation that some ventures may be started
which are likely to be short-lived.
The Australian manufacturing industry to-day gives employment
to nearly 30 per cent. of the Australian labour force. Its growth,
through the diversification of production, material assets and employment
opportunities, has given added strength and resiliency to the
whole economy.
" In framing financial and general economic policy, governments
and public authorities generally must ensure that the manufacturing
industries continue to be given, within the limits of our resources, every
opportunity to flourish and to develop, so that in turn they may continue
to make their maximum contribution to the national policy of full
employment. To this end, Mr. Jensen has represented to me that as
much information as possible should be collated and made public regarding
the structure and operation of manufacturing industry. Such
information should be of use to management and entrepreneurs who
are directly responsible for the operation of established ventures and
the launching of new ones.
The statistical information currently available aims only at giving
a broad picture of the structure of industry. While it presents invaluable
information, it is evident that additional data are desirable in
, order to appreciate the position at any particular time of any one industry.
For the guidance both of public authorities and of private interest,
therefore, we must aimu where possible to improve the information-which
can be made available, whether it be from current statistics or from the
results of special surveys. Sometimes such additional information is
of a kind that cannot be reduced to statistical presentation. The sort
of information which I have in mind includes particulars about existing
and projected productive capacity; the demand for products; the age
and relative efficiency of machinery and plants.
As a result of the willing co-operation of industrialists with which
it has been associated, the Division of Industrial Development has
accumulated much information about manufacturing in Australia.
I have arranged that this division, drawing on its own resources and
the resources of other government departments associated in this field,
should prepare for public information periodical reviews, bringing
together all the relevant information that can be obtained about as
many manufacturing industries as possible.
In preparing these reviews no attempt will be made by the division
to ask manufacturers to give any additional information regarding
their operations unless the manufacturers themselves find it expedient
to do so FIFTH SECURITY LOAN.
TERMS ANNOUNCED.
On 13th January, 1948, the Prime Minister ( Mr. Chifley) said-
The long-term interest rate on bonds and inscribed stock issued for
the next loan to be raised by the Commonwealth Government will be
maintained at œ 3 2s. 6d. per cent. The same rate applied to the
successful Third and Fourth Security Loans floated in 1947. The
securities to be issued will be for a period of approximately twelve
years. Once again there will be no short-term securities."
On 4th February, 1948, Mr. Chifley said-
The next Commonwealth cash loan will open on 14th April, 194S.
The amount to be sought for repatriation, rehabilitation and public
works of the Commonwealth and States will be œ 35,000,000. The loan
will be raised under the title of Fifth Security Loan.
The loan campaign will close on 5th May, 1948, but the Treasurer
reserves the right to close the loan at any earlier time if he should
consider that course desirable."
WHEAT STABILIZATION PLAN SCHEME.
POST-WAR-CONTINUANCE, MI-NISTER'S
ANNOUNCEMENT.
On 15th January, 1948, the Minister for Commerce and Agriculture
( Mr. Pollard) announced that from 19th January, 1948, and to
the conclusion of the marketing of the 1951-52 wheat crop a price of
6s. 3d. a bushel bulk f. o. r. ports would apply for all wheat sold by the
Australian Wheat Board for human consumption and stock feed within
Australia. The Commonwealth Government would guarantee a price of
6s. 3d. a bushel bulk f. o. r. ports for all wheat sold by the Australian
Wheat Board for consumption within Australia and for all wheat
exported. The guaranteed price would be dependent on the States
passing legislation identical with that required as complementary to
the Wheat Stabilization Act of 1946 except in respect to the essential
price alteration necessary to that Act to guarantee 6s. 3d. a bushel bulk
f. o. r. ports. State complementary legislation would have to operate for
the 1948-49 crop.
In the event of the Cost of Inquiry Committee recommending an
index accepted as practicable by the Commonwealth Government, consideration
would be given to varying the price up or down according to
the index variation.
The operation of the plan would continue with the following alterations-
the contribution of 50 per cent. would start under the new plan
at 6s. 3d. a bushel bulk instead of 5s. 3d. a bushel bagged. The ceiling
at which contributions stopped would be 10s. 7d. a bushel bulk instead
of 9s. 6d. a bushel bagged.
Stabilization contributions already collected on the 1945-46 crop
would be distributed to growers not later than December, 1948, in proportion
to their deliveries to the board -but no further distributious
from the fund would be made except as Cabinet approved in the light of
the position at the time. After disbursal of the 1945-46 contributions,
œ 20,000,000 would be regarded as a reasonable minimum for the fund.
The scheme would be reviewed -before the end of the 1951-52 season.
The decisions followed the presentation on 18th December, 1947, of
an interim report by the Cost of Inquiry Committee. The committee
found a cost figure of 6s. a bushel at sidings. Conversion of that price
to a bulk f. o. r. basis indicated a price of 6s. 8d. a bushel. Having
regard to the long-range security provided and the profitable return to
a reasonably efficient producer, the Government adopted 6s. 3d. a bushcl
bulk f. o. r. ports as a fair proposition to all concerned including consumers
and stock feeders. The price represented an increase of about
is. 4d. a ' bushel bulk f. o. r. ports for home consumption purposes and
Is. 3d. a bushel in the overall guaranteed price. With a refund to
growers of about is. 1.5d. the 1945-46 fund contribution for that year's
crop would return them 7s. 4.5d. a bushel bulk ( less freight). It was estimated
that final returns for the 1946-47 crop would amount to 7s. 9d.
a bushel bulk ( less freight).
The crop now being harvested would give a price return substan-.
tially in excess of the 1945-46 and 1946-47 crops. The plan in its
revised form, if accepted by the States and growers, would give effective
security for four crops after the one now being harvested. In the
absence of Commonwealth marketing powers, complementary legislation
by the States was essential.
( ror earlier references please see Nas. 116, page 30; 123, page 28; 128, page
DEPARTMENT OF INFORMATION.
DIRECT OR-GENERAL.
On 15th January, 1948, the Minister for Information ( Mr.
, Calwell) announced that the Director-General of Information ( Mr.
E. G. Bonney) had resigned and would take over the Directorship of
the Australian News and Information Bureau at New York. The
Chief Publicity Officer of the Department ( Mr. K. Murphy) would be
Acting Director-General of Information.
CONVERSION LOAN.
LONDON OPERATION, JANUARY, 1948.
On 22nd January, 1948, the Prime Minister ( Mr. Chifley) said-
" A conversion loan is being floated at London to convert a New
South Wales loan of œ 17,870,000, bearing interest at 51 per cent. per
annum, over which an option of conversion is held by the Government.
The terms of the new loan are: Issue price 984, interest rate 3
per cent, per annum, maturity date 1st May, 1965, with the option to the
Government of prior redemption on or after 1st May, 1963.
Conversion offer will be made to all existing holders of the old
loan but issue of new stock will be limited to œ 12,870,000, as œ 5,000,000
of old stock is being redeemed. The new loan will result in a substantial
saving of interest to the New South Wales Government."
BURMA.
BURMESE DELEGATION.
On 27th January, 1948, the Minister for External Affairs ( Dr.
Evatt) said that a delegation of Burmese Government officials would
arrive in Australia on 28th January, 1948. The delegation comprised
the Chairman of the Burmese Public Service Commission ( Thakin Lun
Baw), Boh Toon Lin and Lee Boon Thi. They would have consultations
with the Commonwealth Public Service Board on public service
organization and administration. NATIONAL GALLERY.
On 4th February, 1948, the Prime Minister ( Mr. Chifley) said-
" Mr. G. W. Booth, of Melbourne, has presented to the Commonwealth
Government, for inclusion in the National Collection of Art
Treasuires, a very fine painting by the late Tom Roberts."
FOURTH SECURITY LOAN.
OVER-SUBSCRIPTION.
Cash subscriptions to the Fourth Security Loan of œ 48,000,000
totalled œ 61,155,000 and œ 17,392,000 of the œ 32,000,000 conversion
loan were converted.
( For earlier references, please see No. 130, page 37.)
By Authority: L. F. JOH1NSTON. Comimon~ wealth Governm~ ent Printer, Canbenra.