AUSTRALIA: Boss Says Inflate

Trouble closed in last week on James Henry Scullin, Australia's recently invalided Prime Minister, the hero who won in 1929 the most sweeping victory Australia's Labor Party ever scored.

Falling world prices, the refusal of Australian labor to accept lower wages and consequent acute unemployment have driven the Labor Party to propose inflation. Before the Australian Senate last week went a Government bill providing:

1) Inflation through the issuance of $90,000,000 worth of circulating notes (thus diluting by that much the security behind Australia's currency).

2) $60,000,000 of this sum to be spent...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!