NOT SO BAD AS PAINTED

Evening Post, Volume CIX, Issue 25, 30 January 1930, Page 9

NOT SO BAD AS PAINTED

FENTON ON THE OUTLOOK

BRIGHTER SIDE SHOWN

British Official Wireless,

BUGBY, 28th January.

Australia Day, the 142 nd anniversary of the landing of the first British settlement at Botany Bay, was celebrated in London yesterday by a special church service, a reception and a dinner, at which Mr. James Fenton, the Commonwealth Minister of Trade and Commerce and the Australian delegate to the Naval Conference was the guest of honour.

In his speech Mr. Fenton said that Australia", in common with other countries, was feeling the effects of the stringent financial conditions which at present prevailed. He pointed out, however, that in Australia Commonwealth stocks were stable at good prices. The Commonwealth had paid over a long scries of years interest to the amount of £502,000,000, and had never yet failed in her obligations. Australia had contributed about £630,000,----000 to the wealth of the Empire in gold. They were on the eve of a great goldmining revival. One company waa spending £3,000,000 in introducing a new process anci methods for the making of low grade ore payable. Another big interest whose representative had just returned from Australia intended to spend £600,000 in developing considerable mineral areas in Hew South | Wales.

■Referring to the new Australian tariffs and the. fears expressed regarding their effect on British trade, Mr. Fenton said that the margin of preference had been maintained, and it still was the policy of the country to give preference to British next to her own manufactures.