CREDIT ON THE LONDON MARKETS.

Poverty Bay Herald, Volume XLI, Issue 13290, 28 January 1914, Page 1

CREDIT ON THE LONDON MARKETS.

PERTH, January 20. Sir NeAvton Moore, Agent-General for West Australia m London, came back to Fremantle this morning by the R.M.S. Otway. In the course of an interview, Sir Newton said that he Avas glad to be at home, even if he could only stay about six weeks. "I shall look forward to meeting all my old friends," he. continued. "My object m coming out after the Government had granted me an extension of office was to make myself fully acquainted with the latest local conditions, and to confer on various matters with members of tho Government and with the representative men m this State. I shall return via Sydney and Canada. ''Australia generally, and West Australia m particular, is looming larger m the British eyes than it did m any other period of its existence. Let me quote the instance of the last loan negotiated by West Australia, for which the public subscribed 28 per cent. Shortly afterwards the Dominion of Canada came into the market Avith precisely the same stock, and yet only 20 per cent, was taken up. Five years ago the Dominion Avould certainly have got the preference. "I believe that since I left England the Bank rate has gone from >5 to 4£ per cent., and I think, that, m view of the slackening of trade m England this year, there are good prospects of ,our getting better terms if Aye go on the market again. There are now. better opportunities of borrowing, for the people of England realise that we use it m work of developmental character. The Australian credit is remarkably good. Tho United Kingdom has enjoyed three years of great industrial and commercial prosperity. Of course it must be conceded that Australia is given greater, publicity than used to be the case. News items regarding the state of affairs m Australia noAv appear regularly m the papers. „_ . "It must be recognised by thY people of Australia that m some parts of Scotland and England there is a marked hostility to emigration of any kind. Employers of farm labor m these countries now offer better AA'ages and conditions to their laborers, and the effect is that, because the best class of farm laborers receive good money there is less inclination to come out to the Dominions. "As far as Commomvealth control of immigration is concerned, the best Avay m which it can assist . the immigration policies of the various States is by proper publicity or by contributing the whole or part of the fares, and leave the various States to select tho immif rants and find employment for them, [either am I m favor of the scheme of Earl Grey to house all representatives and staffs of various London offices of the Dominions under one roof. On behalf of the West Australian Government I purchased Savoy House, which is situated m the busiest part of ""-he Strand, and the offico will be transferred from Victoria street as soon as I go, back. ,? Sir Newton Moore Avas later entertained at a civil reception.