FAILING PRODUCTION.

Press, Volume LX, Issue 18184, 22 September 1924, Page 14

FAILING PRODUCTION.

A DEPRESSING REVIEW. Mr Tom E. Barr Smith, chairman of Elder Smith and Co., Adelaide, deplores the shrinkage of Australian production. In a recent address to his : company he said: "A survey of the past ten years, based on a recent Government statistical publication, discloses some very ominous features. Australian production in that decade, if measured '•by money value, does not at first sight indicate how bad things really are, but if one studies the volume of production it is found that few of our principal primary industries have made any progress, and some have declined. The high price of wool in recent years has perhaps drawn the attention of people from the real state of affairs. We have ro more sheep and no more wool than ten years i go. There ,is practically no change in' 1 milwheat yield.- Wool and wheat being our two moct important primary industries, their absence of growth in output is a very serious matter," in vifew of our increases" of population and indebtedness. The position of the goldmining industry, is' most depressing. The production during the last ten years is down by nearly two-thirds, and the output of silver has also seriously fallen. In base metals, the: pro duetion of copper is at the present time onlv about" one-third of the output at the beginning of this period. , The output of lead is lower, and tin less than one-half. Zinc has just succeeded in maintaining its place, but this is largely duo to the treatment of diminishing dumps, rather than to increased mining, production. With present high .. costs only the richest mines can carry on. Coal has shown no increase in output, and the cost of it to the purchasing community has been doubled. In butter, cheese, i.nd bacon there is a.somewhat better story to tell, though'even here the progress is insignificant when compared w it!) that of New Zealand."