AUSTRALIA’S FUTURE

Dominion, Volume 24, Issue 53, 26 November 1930, Page 11

AUSTRALIA’S FUTURE

Hoover is Confident PROBLEMS ARE SOLUBLE Washington, November 24. ’President Hoover gave Mr. Brookes ' a message to Australia on the occasion of the Commissioner-General’s visit to bid the President good-bye before returning to Australia. President Hoover said that Australia’s future was certain. The present depression could not long hinder her. Her problems as a primary producing country were more easily soluble than if she were a converting country dependent upon the . imports of' raw products. - . He expressed keen interest in the affairs of the Commonwealth. • BETTER BALANCE New South Wales Trade MOVEMENT IN OCTOBER Sydney, November 25. Imports Into New South Wales during October show a satisfactory movement toward adjustment of the trade balance compared with October, 1929. There is a decline of £2,416,727,' compared with £2,569,372 in the previous year. This represents a fall of 45 per cent. RAILWAY .LOSSES Huge Weekly Deficit “DAY OF RECKONING” Sydney, November 25. The Chief Railway Commissioner, Mr. Cleary, stated that for the last five months ‘of this year the. rail losses in each week were £70,000, but/ in the last few weeks the loss jumped to nearly £lOO,OOO a week. He warned city folk that unless they backed up the services a bad day of reckoning would coine. ’ The Transport Trust has expressed satisfaction at the effect of. the recent introduction of concession fares on the tramways. . ! A large number of additional passengers has been carried. The chairman of the Trust said that they did not favour penny fares. The Auckland City Council gave this system a trial, but abandoned it after six weeks. CONVERSION LOAN £1,797,050 in Subscriptions Sydney, November 25. 'Subscriptions to the Commonwealth conversion loan of £28,000,000 in the first week totalled £1,797,050, from 1233 applicants. ___________