NOT PESSIMISTIC.
FEDERAL TREASURER. Review of Economic And Financial Outlook. POSITION SOUNDLY BASED. United I*ress Association.—Copyright. (Received 10.30 a.m.) CANBERRA, this day. The Federal Treasurer, Mr. R. G. Casey, in a review of Australia's economic and financial outlook, said the Commonwealth's position was much more soundly based than four or live years ago.
Although Australia had undertaken a large defence programme, and tliere were undoubtedly sonic difficulties ahead, lie was not pessimistic about tlie future. The rapid replacement of formerly imported goods by locally manufactured products was in progress, imports of capital into Australia from all oversea sources averaging between £">,000,000 and £10.000.000 a year. Mr. Casey added that in the last few ycars we have benefited by an influx of New Zealand capital into Australia to (hp extent of possibly £5,000,000 in all. With the adoption of exchange control by New Zealand presumably this movement of capital will cease.
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Auckland Star, Volume LXX, Issue 16, 20 January 1939, Page 7
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150NOT PESSIMISTIC. Auckland Star, Volume LXX, Issue 16, 20 January 1939, Page 7
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