NOW IN SIGHT

Hokitika Guardian, 22 February 1933, Page 2

NOW IN SIGHT

PROSPERITY IN AUSTRALIA

MR FRANK GOLDBERG’S VIEWS

“Prosperity is not just' around the corner in Australia; it is in sight, and I hope my investigation of' conditions in New Zealand will show a no less happy state of affairs,” said Mr Frank Goiuuerg, managing director of the Goldberg Adverising Agency, Ltd., interviewed in Wellington when on a visit from the Commonwealth. Mr Goldberg said important features were greater stability in political affairs in Australia, the adjustment of economic factors, .and the curtailment of Government expenditure.

All sections of producers and traders had made efforts toward obtaining greater efficiency, and industry had been helped by lower costs .and reduction in interest rates. Generally, there had been a better feeling of satisfaction and of confidence. Stock Exchange prices had arisen, .and there had. been some revival in building, while unemployment had improved in all States.

Rural production continued at an exceptionally high level, with substantial increases in exports of butter, jlieese, eggs, dried fruits, wheat, flour, and wool, said Mr Goldberg. The current season’s wheat crop was estimated at 10,000,000 bushels, or approximately the 1930-31 record figures. Overseas Conditions were still uncertain and unstable, and they showed no assurance to the Australian producer of a higher price level for exports. However, the outlook for 1933 might generally be taken to l>e much better than it was for 1932.

Dealing with public accounts, Mr Goldberg said that the business community was gratified to note that an excess of expenditure for the first six months of 1931-32 was coverted into an excess of revenue for the 1932-33 period, showing a progression of no less than £4,500,000. Revenue in sales tax showed an increase of no less than 27 per cent.

“I hope to find the ‘fear’ complex, which was manifest in Australia nearly two years ago, completely subdued

in turn by the business community in New Zealand, as only with the fullest confidence can the difficult tasks' ahead over here be faced and overcome,” Mr Goldberg concluded.