Manawatu Daily Times [ESTABLISHED 21st MAY, 1875.] TUESDAY, JANUARY 24, 1922. PRODUCTION IN AUSTRALIA.

Manawatu Times, Volume XLVI, Issue 2031, 24 January 1922, Page 4

Manawatu Daily Times [ESTABLISHED 21st MAY, 1875.] TUESDAY, JANUARY 24, 1922. PRODUCTION IN AUSTRALIA.

An exhaustiA’e examination of production in Australia for 1019-20 has been published by the Commonwealth statisticians. The statistics point to an absence of progress in the development of the country. The number of sheep in the Common-* A\ r calth has frequently been exceeded in earlier years, and the area under wheat lias declined belovv pre-war figures, though in the latter respect progress has been resumed since the period to Avhich the statistics refer. The significant feature has been, says .the “Insurance and Banking Record,” that the increase in the returns of the producing classes has been due to high prices, or as in the case of the 1920-21 Avheat harvest to the combination of high prices Avith an exceptionally large average yield, rather than to actual progress in the Avork of turning the resources of the country to account. Progress of this sort Avill doubtless be resumed, and the present statistics contain one indication of this tendency in the shape of an increase of CrOAvn grants and CroAvn leases issued. The proportion of Australian population in the cities has increased during the last few years to the point of saturation, even under the artificial conditions produced by heavy Government oxpendi ture of loan money. With a decline in the influence of this artificial factor, and Avith a reduction in the purchasing poAver of the country Avhen the full effects of lovver prices arc felt, it is natural to look for a less buoyant condition in the toAvns.