BENEFIT TO TRADE

Dominion, Volume 26, Issue 184, 2 May 1933, Page 10

BENEFIT TO TRADE

Australia; United States BETTER OUTLOOK TO-DAY America’s abandonment of the gold standard is going to be big winning factor for Australian firms that wish to trade with the States, according to Mr. T. W. Rowe, works superintendent of John Sands, Limited. Sydney, who arrived at Wellington on tlie Maunganui yesterday morning. He is returning to Sydney after a business visit to San Francisco. While America was on the gold standard. Mr. Rowe said, the rate of exchange was at about 2.7(1 dollars to the pound, or 7/4. Australian currency. In those circumstances buying was very difficult for the Australian business bouse, but under the new conditions it would be probably greatly facilitated. Business mon in the United Stales, said Mr. Rowe, were having a very hard time. They were really going through what Now South Wales had already experienced and was recovering fro.m. In San Francisco, of which he had a more particular knowledge, he had been struck with the general absence of opportunity for business enterprise. although before he left he noticed a decided improvement. ’The huge bridge which was being thrown over Golden Gate in San Francisco harbour would do much to help lhe recovery. Mr. Rowe thought. As it was designed to lie the biggest in tlie world, not excluding lhe Sydney Harbour Bridge, the benefit to unemployment and business in its construction would be considerable.