THE SILVER LINING

Dominion, Volume 26, Issue 98, 19 January 1933, Page 8

THE SILVER LINING

Conditions in Sydney CONFIDENCE RESTORED Ex-Lord Mayor’s Opinion ’ “Though world conditions' are not helping us to any great extent, we are steadily improving our position,” said Sir Samuel Walder, who is enjoying a holiday in the Dominion after a strenuous year as Lord Mayor of Sydney, in commenting upon economic conditions to “The Dominion” last even--lU“The most extraordinary thing about conditions in New South Wales,” he said, “is the phenomenal return to confidence. When it is remembered that New South Wales in 1930 came perilously close to Sovietism, it is almost unbelievable that confidence could be restored in such a short time. Sir Samuel Walder pointed out that the Labour Convention of 1930 set up socialisation committees, and when Mr. Lang came into power he simply carried out the policy of those committees. “No one knows how close New South Wales was to Sovietism.” be said. When the Stevens Government came into power, it gave such relief that a great impetus was given to trade. It was impossible to obtain sufficient machinists for the clothing, boot, and canvas trades. “We can see a steady improvement in coditions in New South Wales,” Sir Samuel continued. “This has been largely brought about by several important sales in real estate in the city of Sydney. In 1929 prices were out of all proportion, values in Pitt Street

being as high us £3900 a foot; £l5OO ii foot was quite a usual figure. Then came the purchase of Woolworth’s building. at the corner of I’itt and Liverpool Streets, for £170,000, about £l6OO a foot, and this was followed by the purchase by the National Roads and Motor Association of a property in Spring Street, for £BO,OOO. These two purchases helped to restore confidence in the real estate market.” A Wonderful Year. Sir Samuel Walder said 1932 had been a wonderful year for the Sydney City Council. The citizens bad responded well to an increase in rates, only 10 per cent, being outstanding at the end of the year. This had helped the financial position considerably. The City Council had £13,000,000 invested in electric lighting and power plant, and in 1932 they were supplying more electricity than in 1929, the peak year. The number of factory motors also showed a considerable increase in 1932, and this could be taken as a very good barometer. If the Government was only left alone, there were great hopes for the future.

Sir Samuel Walder Is a great believer in land settlement as a means of creating employment. He is head of an organisation which has recently placed 800 city boys on farms. The small committee kept in touch with each one of these boys every week. Tlie committee had acquired a large farm where boys were taught to milk. The committee was creating a country sense, and getting lads away from the cities. He said he was very anxious to get back to this work. Reform of Upper House, Sir Samuel Walder, who was a member of tlie Legislative Council in New South Wales, said that a referendum would be held on May 13 on a proposal to reduce the members of the Upper House to 60, and he hoped the people would carry the measure. The Lang Government had flooded the Upper House with supporters, and the Stevens Government, on coming into power, had elected more members, with the result that the Chamber now consisted of 122 members, and bad become unwieldy. Sir Samuel Walder has had a strenuous year, which included the consummation of Sydney Bridge. That he did his work well was evident from the fact that his Majesty tlie King bestowed a knighthood upon him at. the New Year. Sir Samuel Ims already spent a fortnight in New Zealand, and has visited Auckland, Wiiltomo Caves. Tongariro, Wairakei, Rotorua,/ Lake Waikaremoana. Napier, and Wellington. , “We have been very fortunate in the beautiful weather we have experienced.” be said, “and still more fortunate in the attention we have been shown by the New Zealand Government Tourist Department, which makes-travelling in the Dominion a rare pleasure.”