GAINING GROUND

Dominion, Volume 27, Issue 19, 17 October 1933, Page 10

GAINING GROUND

Australia’s Progress MARKETS IN THE EAST “The feeling throughout Australia at the present time is one of buoyant optimism,” said Mr. W. Crawford Burt, formerly managing director of Messrs. A. and T. Burt Ltd., who returned by the Marama yesterday after a year’s residence iu New South Wales. The general view is that Australia has surmounted her major difficulties, and that prosperity is gradually but surely returning. The best proof that there is something in the contention is to be found in the balance-sheets of commercial companies. Shares in most of the wellestablished companies have been appreciating gradually but very generally throughout the year, due, of course, to better trade results. Some have returned already to 1927 levels, and others are getting there. “Then, of course, no Government would dream of remitting £7,060,000 of taxation without solid reason. This remission of taxation is making money more fluid. Industries, in particular the secondary industries, are bucking up, and people are getting back to work in their own trades, which is, of course, the best thing that could happen. “There is no doubt in anybody’s mind over there that Australia has turned the corner,” said Mr. Burt, “and as long as the price of wool keeps as high as in recent sales those conditions should prevail. - v.. ' “At the same time Australia is showing an alert commercial mind in seeking markets for her goods other than jn England,” he continued. “The figures showing the export to the Orient of butter, flour, jams, etc., are really surprising. She has live agents in Java, Singapore, India, China, and Japan, and they are straining every nerve to create trading relations with those countries. It is all nonsense to say that the prospects for trade do not exist owing to the poverty of the coolies. All tlie people of Java, China and Japan are not coolies any more than all the people of England are farm There is limitless wealth in these countries, and if Australia can produce the goods they want there Is an open avenue for trade. This market . New Zealand has entirely neglected up to the present. I still think there is a chance for New Zealand’s meat, butter and cheese in the Easf, but the trade will need fostering by accredited agents who know both countries. We have by no means shown an alert mind in investigating the possibilities of trade with the East.” Mr. Burt'also believes that New Zealand is going to have a serious rival in butter and cheese production in Australia. The output of butter for export is increasing by leaps and bounds, and now Austrajians are turning their attention to cheese. New Zealand would have to watch her step, for Australia was a prospective producer in a very large way for a market which is already over-supplied. During their absence Mr. and Mrs. Burt have visited many places of interest in New South Wales, including Katqomba in the Blue Mountains. Next winter it is their intention to travel north as far as Cairns, in Queensland. ' Miss Joy Burt, who returned with her parents, is to visit the East next winter.