AUSTRALIA’S MAINSTAY

Sun (Auckland), Volume II, Issue 443, 27 August 1928, Page 16

AUSTRALIA’S MAINSTAY

IMPORTANCE OF WOOL INDUSTRY REAL OR FALSE PROSPERITY? "The sheep's back is the mainstay of Australia at the present time,” says Mr. G. R. Ritchie, general manager of the National Mortgage and Agency Co. of N.Z., Ltd., and a director of the Union Steam Ship Company. Mr. Ritchie returned from a six weeks’ business and holiday visit to Australia by the Niagara this morning. I-Ie was greatly impressed with the outward evidence of prosperity in the Commonwealth, but doiffcts if this is quite as great as it appears. “Since my last visit to New South Wales and Queensland, there has-been a tremendous spurt in building activities," Mr. Ritchie told a Sun representative. “Certainly there is external evidence of very great prosperity, but it is just a question whether this is exactly real. IMPORTANCE OF WOOL “There is no doubt Australians realise that the present good Merino wool prices are of the utmost importance to their country. The Australian export of dairy produce is not large, nor is the export of mutton and lamb, for Merino flocks do not lend themselves to meat production. “Wool sales had begun in Brisbane and Sydney. Prices were, if anything, a shade easier, but brokers told me that no one was greatly concerned because of this. Opening sales are usually irregular. “Personally, I would like to see wool keep at a steady price: it would be better for all concerned. DROUGHT CONDITIONS Mr. Ritchie saw many evidences of the drought conditions in Queensland which, he said, were affecting the beef supplies. Although the drought was not as bad as it had been, conditions were still acute in the north, northwest and west of Queensland. In some places rain had not been seen for three years. POLITICAL OVERHAUL Touching on politics Mr. Ritchie remarked that Mr. T. R. Bavin, Premier of New South Wales, and his Government were facing a difficult task, sifting out the affairs of the State, but they appeared to be tackling the job well. "I don’t think that, ultimately, it will do the Labour Party any good,” he added. Mr. Ritchie arrived in Austral/a after the cooks’ dispute in Australian shipping circles had been settled, but he had an poportunity of seeing that the disturbance did not have any serious effect on business, apart from the inconvenience to travellers at the time.