AUSTRALIA’S WEALTH.

Hawera Star, Volume XLVII, 5 April 1928, Page 8

AUSTRALIA’S WEALTH.

COUNTRY UNDEVELOPED. As president of the . Association, of Chambers of Gojnmerue in New Zealand, Mr C. M. Bowden was the representative of tlio Dominion at the recent conference cf Australian chambers held in Hobart. In an interview, Air Bowden said the* conference presented many matters of interest to him in a general way only, such as the respective Helds Of taxation of the Commonwealth and the States, and the constitution and operations of the Tariff Board, but the majority of the subject® were* those which were discussed rear by yean- in New Zealand.

Air Bowden was impressed by tlie great growth of manufacturing m Australia, which is. yearly attaining a greater percentage of the total volume of production. “Opinions, are divided as to thei wisdom of the policy of protection oil which Australia has embarked,” he said. “There, is so much) capital invested in industry, and so great a proportion of the people dependent on a continuance and expansion of operations, that it seems that the country is definitely committed to- that policy, and can never revert from jit. If the. resultant level of prices proves unduly burdensome, to jinmaiy producers no doubt the position will be met bv a system, of subsidies on the exjiortablc surplus. “One hears the same outcry there a® hero and elsewhere as to the. growth of the time payment system and the system of deposit and the .spread, of instalments.” said Air -Bowden, who was struck by the similarity of the problems which confront- business men on both sides of the Tasman. There, was, lie said, extraordinary activity in building -in. both Melbourne and Sydney, and there was evidence of rapid progress on every side. One business man described Australia as the country which has defied all economic laws.” There had been lavish, borrowing and such consistent spending, that the' people had come to look upon j.t as prosperity. The centralisation, of shipping services, and the over-development of the cities, and! the underdevelopment of the coiint,rv —a primary producing country with a. prohibitive tariff —were, ndtablo features, and. yet Australia’s productive power and her wealth were i*ueh that she would vet he one of the great nations of the earth.