RECOVERY IN THE COMMONWEALTH.

Press, Volume LXVIII, Issue 20736, 22 December 1932, Page 11

RECOVERY IN THE COMMONWEALTH.

INDUSTRIAL IMPROVEMENT | _ I DECREASE IN UNEMPLOYMENT, j (UNITED PEKBB ASSOCIATION —ST ELECTRIC ] TELEGRAPH—COPYRIGHT.) CANBERRA, December 21. Statistical evidence gathered from all over Anstralip. and embodied in a special report to the Federal Government by the Commonwealth Statistician (Mr McPhee) shows an appreciable recovery in in443try> which has proceeded for four months and is now becoming daily more marke4. Mr McPhee reports that the unemployment crisis is easing, and thousands of men are beiag absorbed in industry. The improvement is especially noticeable in New South Wales, Victoria, and South Australia. Employment has increased in all States except Queensland. A Government statement says: "Subject to the revenue position beipg maintained, it is the policy of the Uovernmeut to give further relief from the existing heavy burden of taxation in the firm belief, that by these means industry will best be encouraged to provide employment.'' BUSINESS EXPANSION, *AN ILLUMINATING SIKVUY. (Received December ,22nd, 1.10 a.m.) SYDNEY, December 81. Tho Premier (Mr B. 8/ B. Stevens), reviewing economic conditions, said tfiqp during the past §ix months bqsiactivity }iad incased by ten per e«nt., whpleaale trade by seyen per cent., and the pf the principal department stores hj? WP?P than ten per cent- . The deposits at the Sayings Ifenk? had increased by 1,300,0PQ, estimated that at least 2Q,OQQ additional employees were * engaged in factories in New fjonth Wale?. Mr Stevens added that there had also been a marked revival of business in real estate and op the Stopfc change, while the expansion of railway, and tramway receipts was mpst substantial. INCRKASEP SPENDING, FEDERAL BUPVANCVCANBERRA, December Details made available to-day of the booming Customs figures published yestprday ewphf-slae the repovefy in Australia's spending powerNoyejnhe? receipts of 55,0Q,3,f100, are $890,000 higher than those in the SftWP inonth last year, and are £704,000 above the JWPVmt estimated. • , Fpf the! flrst months pf the financial 'year, Cptoms and e*«ise reve'nne exceeded' tbp estimate by £2,573,000. Petrol, motor-vehicles, textile?, and apparel, metals, and machinery, wood, 'wicker, and pane jire prominent items helping to bring this buoyancy. . The increase in duties paid on motaryehicles alonp was £4,000 November, cofnp&red frith November, 1931, and there were also increases qt £127,000 |n primage rpvenpe, 60,000 la beey oxaise, and SJ94,QPO in' excise. LOANS. -% REPURCHASE OF AMERICAN l)f>cejnber 21sf, 7.80 p-m-)

NEW YORK, Decamlter 21. It is learned that 1 the AotfraU&n Government purchased I(M,O£K} wprth of Comtnonwfealth Stocks m. W®, mooth of JWembar for reftnfljjl-P a r~ ik>sph at prices between GO 70 dp(r laru. THe market *rq* larly low, due to the 1 resulting in cqrwdarjible «mp§? to Pi 1 * Government. »

AUSTPAUAN WQOli. I —r—' | * , GOOO MARKET IN JAPAN. (Received December 21st, 10.45 p.».) ,SY'P>(EY, December 21. Leading business men. -wfto jatttn»ed tp* Sydney' to-day from the East' declared - wfis how one of the largest buyers of wop}. They estimated Jape's would peon rgach one pillion flajgs per year. Tfyey yreye convinced that JapjfP'B influence soon lead tq prosperity in'JfftnpJiqriji, Vl>ieti present|y bp neadipg Australian wool in the same proportion as Japan. SYDNEY BRIDGE W>SS. RESULT 0F DEPRECIATED CUftRENCf.. * IfONDONr December 2PExplaining the loss ou the BytJnp?' bridge. was recently announce*}, tho ch airman, Mr Charles Mitchell, at pieeting of Messrs? Dortoan, l«ong, pointed out that tkft c-aiup&py had bee# paid in pounds, w« lc « no ppe in 1921 possibly itave foreseen would hfcra depreciated to los by 1931. . _____ RESCUED BY DOG. SMALL GIRL SAVEP FROM pfqwning. SYDNEY, December 21. Dozens of people witiiewed tbe rescue of % little girl, Malsa Callon, from drowning at Buahcuttex Bay by n champion Alsatian dog. Tha owner qf t}ie dog wap sbflWt dive in, when it leaped over his head, #W§W .the struggling girl, gripped hw clothing at the back of the neck, and brought her ashore, holding her head out thp .w^ter.