Wednesday, July 9, 1930

Canberra:  In a sign both of the growing economic depression and reaction to the U.S. tariff, Prime Minister James Scullin proposes an increase in import tariffs by 2%, and an income tax increase that some say will increase cost of living by $5 per person per week.  He’s dealing with a $68 million budget deficit, and blames the shortfall on the depression and a drying up credit market.