CONDITIONS IN AUSTRALIA

Press, Volume LXX, Issue 21088, 13 February 1934, Page 10

CONDITIONS IN AUSTRALIA

i 4 ENVIABLE POSITION .MONEY RETURNING TO INVESTMENT LTHE PRESS Special Service.] WELLINGTON. February 12. Comment on Australia's improvement; in industry and trade and its progressive return to sound mar. ment in government finance ■.■/as made by Mr Frank Goldberg, governing director of the Goldberg Advertising Agency, Ltd., yesterday. Mr Goldberg, who is to attend the j annual conference of the Newspaper Proprietors' Association at Hanmer, | said that the end of 1933 had shown I Australia in an enviable position compared with the rest of the world's leading nations. "It is extremely gratifying to observe that, with all the vast resources which arc being thrown behind America's Recovery Act, and the various other measures which are being taken with almost every other country, Australia has climbed out of the depression steadily but surely, without resorting to experimentation with the currency or any other of the many nostrums which have been put forward in various parts of the world. Her recovery is more than gratifying. It is a justification of British principles of sanity and level-minded action. Industry Improves "Aloney is definitely returning to Australia's investment markets in steadily growing volume, and the pace of its return would have seemed incredible less than two years ago. Two of the main influences reflected in this renewed activity arc an improvement in industry and trade and a progressive return to sound management in government finance. •'The trade figures for 1933 in Australia are extraordinarily interesting as compared with 1932. the average monthly figures in sterling values for imports and exports being a true reflex of returning prosperity in the Commonwealth. The average monthly imports in 1032 were 114,380,000, and those of 1933 £4,640,000. the exports being £0,880,000 in 1932. and £(1.5130.000 in 1933. So it will be seen that while export values increased by nearly £2,000,000 the monthly imports increased bv less than £250,000. Fewer Unemployed "Another interesting indicator of the improved conditions existing throughout the Commonwealth is shown by the unemployment figures, which indicate a definite decrease in unemployment in every industry and trade without exception, the total decrease over the Commonwealth being 5 per cent. It should be noted, however, that in some trades the decrease in unemployment is considerably greater. "The final figures for Australia's wool sales during December presage 1934 as a year of prosperity. It is estimated that nearly £30,000,000 sterling will be added to the national income. That a large measure of prosperity will be concomitant with this increase in income is manifest when a comparison with the wool sales of the 1928-29 season is made. Australia to-day is probably the most prosperous and sound country in the world."