Australian Prosperity Impresses Visiting M.P. From Dominion

Wanganui Chronicle, 19 April 1949, Page 6

Australian Prosperity Impresses Visiting M.P. From Dominion

AUCKLAND, Last Night} (PA). — “What struck us most in Australia was the enormous range of goods in the shops, and the general air of prosperity,” said Mr. C M. Bowden, M.P., on his return in the Monowai this morning. For a month he toured Australia with the Leader of the National Party, Mr. S. G. Holland, who is returning in a fortnight. Tile cities, said Mr. Bowden, were ablaze at night with window displays and coloured electric signs in the streets. Import control was imposed only on goods requiring dollars, and as a result the shops displayed goods from all over the world”

Farming incomes were at high levels because of the bountiful season, and record prices for woil, wheat and beef. There had also been a profitable market for subsidiary lines, such as dried and canned fruits and wines. Asked about the exchange rate between Australian money and sterling. Mr. Bowden said that nobody seemed to favour any alterations, fearing the readjustments of incomes which would be involved. The present discount was of particular advantage to exporters of manufactured goods, and. of course, primary producers wanted it to continue. The Prime Minister (Mr. Chifley) had stated that only in the event of depreciation of the sterling pound in relation to dollars wotild consideration be given to an alteration in the Australian pound in relation to sterling Restoration of the New’ Zealand pound to parity with sterling and its consequent premium over the Australian pound had ruined New Zealand’s export trade to Australia, Mr. Bowden said. , Substantial quantities of soft timber, fish and seeds were being sent from New Zealand, and although Australia wanted these goods the importers were not prepared to pay 25 per cent, exchange. Orders were being cancelled.