THE AUSTRALIAN CRISIS

Hokitika Guardian, 8 May 1930, Page 7

THE AUSTRALIAN CRISIS

AN OPTiMISITC FEELING

DEPRESSION ONLY TEMPORARY

AUCKLAND, May 5. Australian business men who arrived by the Aorangi said that the Common wealth was taking her financial and in dustrial troubles philisophically. So fai from there being any panic, there war a general feeling that the present de nrcssion was of a temporary character It might last two or more yeans, bui nothing would shake their confidence in her ultimate recovery.

Mr W. S. Robinson, who has powerful financial interests in Australia, amounting to several millions sterling including the Broken Hill Proprietary, the Zinc Corporations, and the Imperial Smelting Corporation, said the present crisis was not unexpected. Countries in the process of development were bound to be affected by movements in worl l 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 Air Robinson, but a totally new idea of values must be absorbed by its people. The Australian worker, for instance, was perfectly equal to the occasion, but lacked proper leadership. Wise 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. Mr Robinson is proceeding to Lon don via America, on business connected with Ids interests, and while in Fine'■rad w’Tl attend the Imperial Pres« Conference on behalf of West Austral’an and South Australian newspapers.

PUBLICITY AGENT’S MISSION

The advantages to be reaped by inducing overseas firms to start manufacturing in Australia were urged by Mr Frank Goldberg, tne well-known public ity expert, who is passing through New Zealand, en route to the United States and Great Britain, with the object of pei'suading certain 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 tlieir grip on the Australian market,” he said. “I am confident that when they are confronted with actual facts regard' ing the prevailing conditions, they will give serious consideration to the possibility of actually manufacturing within the Commonwealth. Already a number of British and American firms have 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 for a cigar-ette-manufacturing plant for the Bri< tish firm of Godfrey Phillips, with n capital of £003.00D, and the artificial silk manufacturing works of the Kayser Company,

“While it is strictly true that Australia is passing through a very difficult period,” said Mr Goldberg, X' find that her position is being completely misrepresented by berhin calamity howlers who regard every development through dark glasses. Australia is very sound, mi] will shortly occupy an eyeq stronger position than formerly, JSvevywliere one meets the truth that people are serious and determined in their intention to rehabilitate the nation’'S industrial status. Communal and individual economy is universally evident, and the general realisation that increased production is absolutely essential is being translated into uetual practice. The depression which was naturally the immediate sequel to the Government's drastic tariff plan lias 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 bard work, and hard work ns the world’s finest antidote for pessimism.”