N.Z.'S PROSPERITY

Hawke's Bay Herald-Tribune, Issue 61, 30 March 1937, Page 6

N.Z.'S PROSPERITY

-Press Assn.-

Trade Commissioner's Opinions DETAILS AWAITED

(By .Telegraph—

-Copyright.)

(Received 30, 8.45 a.m.) SYDNEY, March 29. j On his return to Australia the Com-I monwealth Trade Commissioner in Newj Zealand (Mr. R. H. Nesbitt) discussed! conditions in New Zealand. He saidj that although the ordinary people had more ' speuding money and the shop-j keepers were reporting increased turn-l overs, investing circles, business men: , and companies were auxiously awaiting reports and balance-sheets to March 31 in order to gauge the effects of a fulL-I . year's trading under the Government 'sl legislation. j Mr. Nesbitt added that the primaryproducing industries were experiencing considerably increased costs, and the dairying industry was inelined to believe that these more than counterbalanced any advantage from the guar-j anteed price for dairy produce, with; th© result that the basis of the plan was now being challenged. Farm labourers, too, were being attracted to publie works owing to the high wages. This might lead to a reduction of the land industries. Uneinployment, however, had been greatly relieved. Recovery in the Dominion, Mr. Nesbitt emphasised, was almost entirely fdue to more favourable oversea mar-> kets, chiefly for wool. Australia'a saies to New Zealand over the twelve.months had increased by nearly £1,000,000,