AUSTRALIA'S TRADE DEPRESSION.

Press, Volume LXV, Issue 19805, 18 December 1929, Page 18

AUSTRALIA'S TRADE DEPRESSION.

MR J. G. WATSON'S VIEWS. ITHS PKESS Special gerrict.j AUCKLAND, December 17. The man who 25 rears ago was the first Labour Prime Minister of Australia, Mr J. C. Watson, arrived at Auckland from Sydney by the Marania •n a holiday visit. Mr" Watson is no longer actively interested in polities, snd smilingly remarks that in the course' of his long retirement his political ideas h-ve very largely evaporated. "There is undoubtedly trade depression in Australia at present, but I cannot see any real cause for pessimism," Mr Watson said. ''The drop in the price for wool and wheat will mean a redaction in income for New South Wales of £l-5,000,000. It is a verv serious matter. but we are buildnig •b. the -assumption that conditions will Shortly be restored to normal. "Periods of depression occur at interrals. and appear to be verv largely unavoidable. A good deal of the trouble in New South Wales at present is undoubtedly due to the situation in the eoal industry. This, I think, is caused by a number of hotheads who will stick at nothing. There is unfortunately a Communist element which makes itself heard and felt, while the main bodv of the men remains in the background, ffce regrettable incident at, Bothburv ■wlll be deplored by every right-thinking Australian. "The present Labour Government has Started very sensibly, and by appear•Tices should remain in office for some Ji-ars. Ido not know of any increases in the tariff, but the Australian people generally axe determined on a high tariff in an attempt to build up local industry. There may be anomalies in the present tariff, but generally I do not think it is excessive. It is no higher than The American tariff, and for years the United States has been sending huge exports to Australia and importing next to nothing in return.'' T1» Railway Department adrertise* farturalar. regarding alterations and ad-