TIME OF STRESS

Sun (Auckland), Volume III, Issue 799, 21 October 1929, Page 10

TIME OF STRESS

AUSTRALIAN SENATOR TALKS OF POLITICS OIL-BORING IN TARANAKI Boring for oil will start shortly at Omata, near New* Plymouth. This is information that is brought by Senator J. D. Milieu, one of Tasmania's representatives in the Commonwealth Senate, who arrived by the Niagara this morning. Pie is also chairman of the C 09.1 Oil Company, but beyond the statement that boring will start shortly, lie would not discuss the company’s activities in New Zealand. Discussing Australian politics, Air. Alillen said: “Labour will do away with all talk of abolishing the Arbitration Court. “During* the next two years the Commonwealth is unquestionably in for a time of stress brought about by a reduction in the price of wool and wheat,” lie continued. “There can be no liberties taken with the money market. I don’t; think, whatever party is in power, that there will bo an excess of money. The whole ol Australia’s affairs w r ill require the most careful financing.” Air. Millen, whose home is in Larinceston, said that Tasmania was improving although she had had several set-backs from floods. There had been serious trouble over aea-coni-niunication between Tasmania and New Zealand and Australia. His countrv now missed a good deal of the shipping which should have come her wav. Mr. Millen referred to the fact that Home boats could not carry passengers lor Tasmania as in the old days. There would be an excellent Crop of apples this season, and that particular industry was in a healthy state. Growers had no difficulty in selling* Tasmanian apples in England, and the Australian markets were improving every year, which was what the Tasmanian growers wanted. HARD THINKING A well-known Auckland business man who was also on the Niagara and discussed the Australian elections stated that Australians had never seemed to worry in the past, but this time they were doing some hard thinking. Australia had to meet a huge deficit and responsible businessmen were taking steps in a wise and deliberate way. There was no doubt, he said. that Australia would have to go through a distressing period of depression.