ENORMOUS RANGE OF GOODS

Ashburton Guardian, Volume 69, Issue 160, 19 April 1949, Page 2

ENORMOUS RANGE OF GOODS

Prosperity Apparent in

Australia

ALTERATION IN EXCHANGE NOT FAVOURED

(P 4-)

AUCKLAND, April 18

“What struck us most in Australia was the enormous range of goods in the shops and the general air of prosperity,” said Mr C. M. Bowden, M.P., on liis return in the Monowai this morning. For a month he toured Australia with the leader of the National Party (Mr S. G. Holland), wild will return in a fortnight.

The cities, said Mr Bowden, were ablaze at night with window displays and coloured electric signs in the streets. Import control was imposed only on goods requiring dollars, and as a result the shops displayed goods from all over the world.

Farming incomes were at high levels because of the bountiful season and the record prices for wool, wheat and beef. There had'also been a profitable market for subsidiary lines such as dried and canned fruits and wines. Asked about the exchange rate between Australian money'‘and sterling Mr Bowden said nobody seeded to favour an alteration, fearing the readjustment of incomes which would be involved. The present discount was of particular advantage to exporters of manufactured goods, and primary producers wanted it. to continue. The Prime Minister (Mr J. B. Chifley) had stated that only in the event of depreciation of the £ sterling in relation to dollars would consideration be given to an alteration in the Australian £ in relation to sterling. The restoration of the New Zealand £ to parity with sterling an£ its consequent premium over the Australian £ had ruined New Zealand's export trade to Australia, Mr Bowden said. Substantial quantities of. soft timber, fish and seeds were being sent from New Zealand, and although Australia wanted these goods, importers were not prepared to pay the 25 per cent, exchange, with the result that orders were being cancelled.