SIR JOSEPH WARD.

Hokitika Guardian, 24 September 1924, Page 4

SIR JOSEPH WARD.

1! K.TKI! NS FROM A IST I (AM A. WEiXINUTOX. St-|»t. If:. •'I )■:■(] a very interesting time there mi l enjoyed ilit* trip very inttcli. but lam j_ r i.i»i to I#t* back in New Zealand again”' said Sir .lose|.l. Ward. win. returned to Wellington l.y tin- .Maunoamii after a visit covering a month in all to Australia. "Australia is a eoitnliv that always alt rails one." lie aih • ii. "It is sti.-h a tremendous country. far as art*a is rnii<i'riK*<l. tint. mu*, not- unnaturally, expects to see the on t poll line of the produce trout th<* interior aiding in the advance and expansion ot the cities: and this expansion is distinctly imti-eal.le at the oresent time in loth Sydney and Melhoiirne. It is a little over -If ye.lie--inie I was there last ; and the buildings that have heon erected and are being erected ill lioth these cities are vetv striking indeed, not only lor thei’ numbers. hut- for their great size and tine appearance; while the street traffic of Sydney and Melbourne, is. nl course, lar creator than that of an; city in New Zealand. A DISTURBINO FACTOR. “But the fact that the populationsof both Svdtiey and Melbourne anp'eai to t nsi"*? wiih so-li e>-.-at m • ,'ditv that- t-lv-v arc drawing the i ie. iph- iii too la rye numheis from tinintei ior and tins drift from the conn trv to the towns presents a "inditin'that is giving a goad deal of eoneevi- ■ . nuhlie men and private citizens alike in New S uit It Wales and Vic toria. One cannot, sav that this growth of tin'

■- it ic l s at the- evncnsc ol the count r'' • li.-.l l-ic-t s is a >'n"l thim: hy all'- meanstoil the i-.-.int is how are tliev going ore vent it II is an awkward pm ! 1,, 1,1 to solve. While their iiihind ter-,-j[.,v js so extensive, the fact tha( the nn-al areas of these Slates cannot retain all the nenole that tlu-v now have e-.i tin' land, obviously makes it exceed in trie ilifiicu’t to put a land settlement selieme nr schemes in onr-ration under such conditions as will of them selves keen kirn- imnd-rs of future settlers out of town. I Ice.vever. that i a nrohlc-m to tcraoidc* with, and settle I la-nisclves to grapple with, and s--llh if thee can.

tiik (Tim;k v cy nn-i-’irn.Tv. "Nut withstanding the fact that Australia is such a weallhv c-milt rv." con tt.-.iicl -sir .lusc-uh Ward, “considerable ditlieiilty is at present in-iti" exe-'v-iciiced over there in connection with i la-ir local i-'irrenev. Tie- prohlem th->' c- uifronts them is. how to secure a sum eienev of ha nk notes to meet tin- full refpii i euieiils of the ('•overinnent. th*l iisiness men. the- settlers, ami others The note issue i'l Australia is C-Mit rolled 1 v a note hoard el three leading

and verv eapahh* husiuess men. I hev iix the limit of tin- u-de issue: and a 1 m-.’sent it is cuciieiided hy lhe - heads o' financial institutions and others that of mi inllaiun in values. Pillowed hv tlie limit is too low. But il the limit were errantly extended, there* is tin- tea* the inevitable throw-hack ol the boomerang. Tims it will he M-c'll that tin collii'ol ol the note issue is a task ol erent respousi hi I i ty. The Note Bonid rei-eutly decided decidi-cl to oiler the hanks an addilicuml live millions slel--1 ino at the rate of 7 per rent., hut it i-i-ather ilillic-iilt fur all iihseiver to see how the hanks c-an lake up the extra amount otic-red at siic-h a high rale ol iTileri'st. 11 is lice note issue' upon which they are making advances to their customers, whether merchants.

trades, people, settlers, or what not. and to eharoe 7 per rent, lor th" mites necessarily means making money clearer. This 7 per cent, is of course, a rood deal more that! double what we charge our hanks. “ flic Keilernl (hivi-rnmeiit rec ently auii-lided the ('•.minuinv.i altli Bank Ac t hy c.-st ;t l»l isle i it}*; a hoard ol directors, aiid there are other amendments. The note i-sne trouble is unquestionably giving a great deal c-.i c-otieern iti Australia ,cl ill-' pt'e -cut tine-, hut it is hoped that wlc-n the hoard of dircetors c reated cmT-r 111'- (Tinilunnwcalt h Hank Act- is appointed there will he an adjustment arrived at in the way ol reli-vitu' the- existing situation. IHCi I KXCIIANUK B ATKS “What has aggravated the 0111111' pesitinn i'.i Australia as it has al--" ai cut 'iat'.'il ottr diffieiiltic-s in New Zealand—is the dillicultv el' getting money hark out here Irotn l.oiidiiti. (lie e.’lltre that purehnses the hulk nf our products. The money that we rrcpiire I - e-l hack ... in tin- nggrgutof emirse. tin' dilferem-e between the value uf our imports and our export■ : hut the fait that we are called upon to pay such a liiyh charge as is made for exchange is having a verv prejudicial elfeet in all parts v-Ti-iv this (•>:- i-lianee condition prevails. As I have said, Australia's wealth, mil wit In i indiuf the ti'inpnrary dill’ictilly In cr.nneetinn with mniioy is cnni'iimus. I .i‘ l present season's wool clip-. tnr example, is expected to realist' at least -31 millinns sterling. which is ei|ital to all the exports oi ottr re. oid year j>ut together. .Moreover, the value ul t.d--seasiin’s wheat, crop is calculated at .IP millions sterling; and in Smith Australia the wine industry this year 0 larger it has ever been, in the history of the country: winch. oi < nurse, means a larger growth and a bigger aggregate value ul grapes. fwi that, these three natural product.- ahitte - to say nothing of Australia's large export ot meat and dairy produce give a very dear indication ul the tr.’-m.-minus v.ealth-prodnein;.'. e.ipa -il.v nt the Ciminiouwealt h.

The |)lniii fact i- llml. this question ol' exchange I rum till' Dill Country <> A list in lin liis il' grappled v. it!i mi :i iii'ii- li.isis. To unit fur :i gold standard t• » In' established. SI ml in llttvi' tlir people ill tlll's:.* great romitri.'s i'.liti >sl brought up standing, financially spcak|iia—op nt li'i'.sl I'liilniri'iissi'il in linin' i'iisi's lici'iiuxo mir min tintiii'.v Unit is paid U-, fin- mir jn'.iilin Is in l.nmli'ii cannot get lini'k to lln* pro.lin in'' countries v.itlioiit nn excessive inti' ol exchange, is ton nlisuril altogether. Sin .1 11 stnti' of affairs cannot «i on long nitliiuit injuring. not only I In- overseas 110111 ill in 110 lint llm Dl'l Country a ill'll; mill therefore this problem must In: mil veil. IVr.sonnlly, I Imlil t !n----vii'iv, nn.l linvc held it lor n loop time. Unit tlm matter inn In' mlistiii torily set llcil. ninl I Ini Vo liioli' tlmn owe mnili' suggestions in regard to it to high fimuicinl authorities in England. -a pkcpi.iai: feati 1:1:.”. "iint iv:nil seems in nn* to In* 0111* ol tlm pi'i'iilinr foil til its of tlm present position, is tlm lint Hint, though it is iii'ii known Unit no gold stmnlnril 1:111 1,0 ostnlilislidl nt mi onrly ilnto to meet tins difficulty. tlioro nro still inon, mnl good inon too. who mo harking lark •iml waiting for pre-war conditions in till* lmitli'l' ol gold CUITCiIc.I , though t!i;> gigantic trnili' dcvclnpmciils in nil pnrts of tlm I'.rili'li Empire during tho war rendered tlm polil i'ii I'iT'tii'N’. tpiiti' incnjinlili' of meeting tho -sitiintion. In tlio mi'nntinii'. tlm high into of exchange to pot iiioimy out from I'.np|n in I to tin.' ovorsoiis iloliiiiiioiis. is liolpinp, muon;' otlior lliinps, to bleed tlm owners of tlmt money to ilontli. Anil it certainly is koopinp up higher ousts for ninny of tlm thinps lllut no ri'i|iiiro for our ilnily liso.

•‘M’liilc over in Austrnlin, ! mot Mr liriiio. Prime .Minister of the C'olll- - mul Sir George Kullor. Prime Minister of Noiv Smttli Mules. I did not while in Australia, nor do I propose to do so now. ilisoiiss any matters in report I to polities as tliev a licet Australia’s internal affairs; lint it is oertninly the ease that the present position in that rounlry is a very cliflioult one, and onuses tho men who are oontrollinp nintlors to load very stronUolis lives.”

MTINREHITI, COI'NTRV WITH A

CIIIKAT IT'TPIII'

Tll ooui'lusion. Sir Joseph Maid said: ‘‘Australia is a wonderful country, apart altopether from its size, which makes it. almost a continent, and it must have a prent lutiiro before it. After all. about six millions ot people in such a vast territory is a mere handful compared to the population that such a prent expanse of eiiuntrv can carry. The manufacturing industries over there are going ahead by leaps and ban nils; and that, perhaps is one of the reasons why the cities are drawing so many people from the country districts to swell their numbers. I was only able to see Sydney and Melbourne, as I had to get hack to Non Zealand; but I have had a very in-

teresting and a very pleasant time, and enjoyed the altogether too short a visit very much indeed.’’ Asked hy our representative if lie had anythin" to say on local politics. Sir .Joseph said that lie would prefer to sav nothing about New- Zealand affairs.