AUSTRALIAN TRADE

Press, Volume XCVIII, Issue 28938, 4 July 1959, Page 13

AUSTRALIAN TRADE

' Visible Surplus ; For'Year • (Rea 11 pjn.) _ , , u CANBERRA, July 3. * Australia recorded a visible trading surplus of £6-9 million in the 1958-59 trade year ended u June 30, according to preliminary r official statistics released today. * The figures showed that tor ' the year, exports earned £8036 ■ million while the cost of imports v was *796.7 million. • • Trade authorities, commenting on the report, said it was a tar better result than the Government had expected. Forecasts had put export earnings at only £750 million and the imports bill at £BOO million. In 1957-58, exports earned £819.1 million and the imports bill was £7914 million, giving a surplus of £274 million. Today’s report showed that to June, the last month of the trade year, exports earned £70.9 million, compared with £63.5 million in June last year.

The “New York Times” said the Constitution would give the President “virtually dictatorial powers.” "The dictatorship . . . wiH apparently not be without military backing. "The present Parliamentary Cabinet will be succeeded by a ‘presidential’ Cabinet

“Obviously, the elected representatives of the people, having had little enough voice as it is, I will now have none whatever.’ the “New York Times” said.

“Soekarno’s regime has brought this rich Asian country into economic chaos and bankruptcy. It is now apparently going into political bankruptcy as welt .“What has happened thus far is certainly no recommendation

for a Soekarno dictatorship. The only group that looks with pleasure on these developments is the Communist Party. And the only place that stands to profit is the Kremlin,** the "New York Times” said.