AUSTRALIA’S OUTLOOK
TREASURER’S CONFIDENCE
CAPITAL PROM NEW ZEALAND
[BY CABLE —PRESS ASSN. —COPYRIGHT.]
CANBERRA, January 20. The Federal Treasurer (Mr Casey) in ti review* of Austrnliu S' economic and financial outlook, said the Commonwealth’s position was much more soundly based than it was four or five years ago. Although Australia had undertaken a large defence programme and there were undoubtedly some difficulties ahead, he was not pessimistic about the future. He added that the rapid replacement of formerly imported goods by locally manufactured products was in progress. Imports of capital into Australia from all overseas sources were averaging between five to ten million pounds yearly. “In the last few years we have benefited by the influx of New Zealand capital into Australia, to the extent of possibly five million pounds. With the adoption of exchange control by New Zealand, presumably, this movement oi capital will cease.”
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Greymouth Evening Star, 20 January 1939, Page 7
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146AUSTRALIA’S OUTLOOK Greymouth Evening Star, 20 January 1939, Page 7
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