CHEAPER MONEY

Dominion, Volume 26, Issue 32, 1 November 1932, Page 8

CHEAPER MONEY

Prospect in Australia PRODUCERS’ OUTLOOK Faith in the Future

Cheaper money is expected in Australia by Mr. Vivian Riddiford, the well-known pastoralist, of Lower Hutt, who returned from a holiday visit to Australia by the Makura, which arrived at Wellington from Sydney yesterday morning. Mr. Riddiford, who was accompanied by his wife and daughter, spent the greater part of his holiday on the Osborne Station in New South Wales. Mr. Riddiford said that there were gilt-edged shares in Australia returning only two per cent. There had Ijeen. a big turnover in the share market, and brokers were doing very well. “It looks as if money is going to be cheaper over there,” he said. “The farmers are having a rotten time,” declared Mr. Riddiford, when invited to discuss the plight of the primary producers in the Commonwealth. The prices farmers were receiving for lambs and wethers were considerably less than last year. The Australian meat-grower appeared to be receiving more for his beef than the producer in the Dominion, but that was largely due to the Sydney market and had nothing to do with the export trade. From a climatic point of view, however, the farmers had had a good season with no droughts. That was something to he thankful for. Transport charges over long distances to the saleyards ate into the farmers’ receipts. Nevertheless, the man on the land was still optimistic, and hopeful that there would soon be a turn for the better. Mr. Riddiford described as “tosh” much of the New Zealand news one read in the Australian newspapers. No doubt the undue prominence given to the earthquakes made many people afraid to visit the Dominion. In some of the lesser newspapers New Zealand was Invariably described in such terms as the “Shimmery Isles” or the “Shaky Isles." In his opinion, however, the better boats now being placed In the intercolonial service would encourage more people to visit the Dominion. "Outwardly one would not think there was very much wrong with Sydney,” concluded Mr. Riddiford.