DEPENDENCE ON EXPORT

Evening Post, Volume CXVII, Issue 76, 31 March 1934, Page 10

DEPENDENCE ON EXPORT

Although in many countries the sign is raised of the closed or closing door, the zeal to produce is equally evident, and suggests an underlying faith that the expulsion of exports is only a passing phase in world relations. Were it otherwise, huge capitals sunk in production and in shipping must be lost. A case in point is the Australian dried fruit industry, which was one of the first to sell oversea at prices below home prices. Years have passed since Professor Giblin, in the "Economic Record," drew attention to the peculiar economic foundation of this and certain other Australian exports; meanwhile, the depression deepened, but 80 per cent, of the dried fruit produced in Mildura is still sold in export markets, including Britain and New Zealand. Without irrigation, Mildura could feed 3000 sheep, employing three or four men, and producing about £6000 in value per year. Irrigated, the area's production in 1933 was valued at 2J millions; 14,000 people live there, and 4000 others work there in harvest time. It is strange to reflect that this [community is, dependent almost (entirely on export trade at a time [when there is a war on exports, 'particularly on assisted exports. Of 'what use would it be to tell Australia [to eat its. own dried fruits? It cannot be done at the price; and if it were done, the price would be too low for a capitalisation that runs into many millions and which pumps a million tons of water from die River Murray every twenty-four hours. Mildura is strong at one point. Britain does not regard a dried fruit industry as vital to her. She has other ideas about milk.