Abstract

Editorial Paragraphs

The article presents information related to social and political issues of the world. A bankrupt nation is unusual these days, but Australia appears to have come dangerously near to that predicament and to be not yet clearly on the road to solvency. Falling prices for wheat, wool, meat and other staple exports have pulled down the volume of Australian credits abroad from nearly a billion dollars two years ago to somewhat over a fourth of that amount this year and unemployment, aided by a coal strike in New South Wales has gravely increased. Not so bad as reported seems to be the view that must now be taken of the drought. The drought may still be the worst in the history of the U.S., as it appeared to be at the end of July and crops of wheat and corn may be the smallest in years, but the loss in general has apparently been overestimated.