OUTLOOK IN AUSTRALIA

Southland Times, Issue 21089, 22 May 1930, Page 11

OUTLOOK IN AUSTRALIA

CONDITIONS IMPROVING. FIELD FOR OVERSEAS CAPITAL. . BUSINESS MEN CONFIDENT. Australian business men who arrived in Auckland by the Aorangi recently stated that the Commonwealth was- taking her financial and industrial problems philosophically, says the N.Z. Herald. There was a general feeling that the present depression was of a temporary character. It might last two or more years, but nothing would shake their confidence in ultimate recovery. Mr AV. S. Robinson, who has large financial interests in Australia, said the present crisis was ijot unexpected. Countries tn process of development were bound to be affected by the movement in world prices. Much, perhaps, would depend on America, which, to some extent, had cornered the world’s gold. Australia was a supremely confident country and would certainly rise to the occasion, said Mr Robinson, but a totally new idea of values must be adopted by its people. .The Australian worker, for instance, was perfectly equal to the occasion, but lacked proper leadership. AA'ise leadership in every sphere of activity was more needed than anything else. The Federal Labour Government was doing all that could be done to ease the position and Mr Scullin was showing a comprehensive understanding of the position. Encouraging Industries.

Mr Robinson is proceeding to London via America on business connected with his interests and while in. England will attend .the Imperial Press Conference on behalf of two Western Australian and South Australian newspapers.

The advantages to be gained by inducing overseas firms to start manufacturing in Australia were urged by Mr Frank Goldberg, the well-known publicity expert, who is passing through New Zealand en route to the United States and Great Britain with the object of persuading large British and American concerns to open factories in the Commonwealth. “In spite of Australia’s high tariff wall I believe overseas manufacturers will see the folly of loosening their grip on the Australian market,” 1 he said. "I am confident that when they are confronted with the acute facts regarding prevailing conditions they will give serious consideration to the possibility of actually manufacturing ■ within the Commonwealth. Already a number of British and American firms has made plans to do this, and it will be an important part of my present journey round the world to induce others to follow suit.”

Mr Goldberg mentioned the recent establishment in Melbourne of a cigarette manufacturing plant for the British firm of God-, frey Phillips with a capital of £500,000 and the artificial silk manufacturing works of the Kayser Company. Policy of Hard Work.

“While it is strictly true that Australia is passing through a very difficult period,” said. Mr Goldberg, “I find that her position is being completely misrepresented by certain calamity-howlers who regard every development through dark glasses. Australia is very sound and will shortly occupy an even stronger position than formerly. Everywhere one sees that the people are serious and determined in their intention to rehabilitate the country’s industrial status. Economy is universally evident and the general realization that increased production is absolutely essential is being trans-, lated into actual practice. The depression which was, naturally, the immediate sequel to the Government’s drastic tariff'plan has now been replaced by a widespread determination to make the very utmost of the opportunities provided by that plan. Australia is not enveloped in a fog of gloom. She has settled down to hard work, and hard work is the world's finest antidote for pessimism.” Mr- A. A. Gaffney, of London, who has spent several years in Australia and has now come to New Zealand to open an establishment on behalf of a number of English manufacturing concerns, expressed the opinion that conditions in Australia were now improving. There had been far too much spending of an unproductive nature in the past, but things were now being righted. Mr J. D. Millen, of Tasmania, a member of the Federal Senate, also viewed Australian conditions in a hopeful light. Jlr Millen, who is chairman of directors of Coal Oil (New Zealand), Limited, is visiting New Zealand to inspect the company’s oil bore at Omata, Taranaki. Mr Millen said Australia’s new- tariffs had had the effect of stimulating local industry. The Labour Government had faced very serious financial stringency and it was forced to adopt drastic measures.