AUSTRALIAN NEWS.

Pahiatua Herald, Volume XII, Issue 2372, 31 May 1906, Page 2

AUSTRALIAN NEWS.

loans and securities. DEFENCE BY SIR J. MODDEN. PER UNITED PRESS ASSOCIATION. London, May 29. At a meeting of the Australasian Chamber of Commerce, Mr E. T. Doxat presiding, Sir J. Madden, Chief Justice of Victoria, read a paper on “Australian Loans and Securities.” His object, he stated, was to controvert the pessimistic and unfair views expressed by certain papers. Ho had noticed that Australia’s adversities had been remembered, while her heroic struggle and conquests had been forgotten. Sir J. Madden declared that he had not found the slightest antipathy towards Australia ; on the contrary, she was most cordially welcomed. It was impossible for investors to find a safer country than Australia. Ho detailed that country’s wonderful assets in her railways, products, private wealth and manufactures. The story of Australia, the writer maintained, was one of prosperity, and she was absolutely and splendidly progressive. Sometimes her progress had been interrupted by errors, but she had always resumed her course with increasing prosperity. Therefore, Australia should be welcomed as a first-class customer. There was no reason why Australians should not meet their customers with lofty hands. In regard to the Labour party, Sir J. Madden pointed out it must be remembered that its supporters were different from Labour parties elsewhere, many of them possessing properties of their own, which they would take care of. What Australia wanted, in order to reach magnificent proportions, was all possible immigration. and she was anxious to get every industrious white man. BANK CLEARANCES. Sydney, May 29. The gross clearance from Sydney banks during the first twenty-one weeks of the year amounted to £84,350,206. or £12,975.730 more than during the same period last year.

NEW SOUTH WALES PARLIAMENT.

Sydney, May 29. The New South Wales Parliament is to meet on June 26th.

RAIN. Sydney, May 29. Heavy rain is falling throughout the State. THE SEDDONS ON TOUR. PROPOSED SEDDONIAN NEWS AGENCY. Adelaide, May 30. The SeddoA were farewelled by the Deputy-Governor, Ministers and members of Parliament. They have been invited to visit Tasmania, and will do so if the steamers suit. Dealing with the news published in the New Zealand press about Australia, and vice versa, Mr Seddon stated that the New Zealand Government paid a considerable sum each year towards the up-keep of the New Zealand Press Association. More news should be disseminated. In order that more important New Zealand news should reach Australia, the Government had decided to send biweekly messages to Australia, which, it bad been arranged, would lie sent to all Australian papers. An impartial person would be selected to collect news, and it would be for the proprietors of the papers to say whether they would publish it or not. THE RECIPROCITY QUESTION. WHAT PRICE THE FEDERAL TARIFF. Adelaide, May 30. Mr Seddon states that he thinks the majority of Australians are favourable to reciprocity with New Zealand. On the other hand New Zealand is also favourable. Figures submitted by him to Mr Kingston in 1897 meant a loss of duty to South Australia of £25.000 a year, and a loss to New Zealand of £121.000 a year. One of the best things the Federal Government could do this session would he to pass a reciprocal treaty between the two countries. The trade between Australia and New Zealand was about £3,500.000 annually. Tt should l>o increased by another £2.000.000.

CABLE NEWS (By Electric Telegraph.—Copyrigat).