Brief Surplus

Proudest man in Australia last week was tousle-haired Premier Joseph Aloysiu Lyons. When he took office 22 month? ago Australia's finances were an Empire scandal. Commonwealth bonds were on the verge of interest default. Joe Lyons, who had only recently emerged from the political wilds of Tasmania, formed a Cabinet and pulled in his belt. Things looked better last year, and last week he had real news. Reading his budget speech before the House of Representatives, he announced that the Commonwealth had, instead of an estimated deficit of -L-1,302,000, a surplus of -L-3,547,000.

This money will not lie long in the treasury. The stiff income taxes that were necessary to balance the budget will be reduced immediately. Tariffs on Empire goods will come down, old age pensions will be upped two shillings sixpence a week, and the Government will end the year with the million-pound deficit they were ready for.

Part of Australia's brief surplus will go for public works. Canberra, the still half-built "Washington of Australia." will get a water system, and Premier Lyons will be able to speak to his old home in Tasmania by a submarine telephone cable.

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