RESTRICTING IMPORTS

Sun (Auckland), Volume III, Issue 917, 10 March 1930, Page 8

RESTRICTING IMPORTS

ACTION OF GOVERNMENT IN AUSTRALIA DIFFICULT TIME AHEAD “Until Australia gets her credit established again in London conditions in the Commonwealth will be dim* cult.” Tho above comment was made this ’norn .ng on the Aorangi by Mr. W. Mackav, senior partner in the Sydney shipping firm of Macdonald and Hamilton. who arrived on a brief tour ox New Zealand. So far the bank restrictions had not prevented Australians from going overseas, said Mr. Mac kit y. The boats were all well-filled. However, as most of the tours abroad were planned some time ahead, there would be a general falling-off later in the season. Australia would have to reduce the cost of production of her goods before she could regain her former stability. It was passible to sell -Australian goods overseas, but the cost of production was so high that it was impossible to compete with outside markets. During the past few months the Government and the banks had done wonderful work in trying to restrict imports. Overseas buying had been limited very considerably as importer* could not establish credit in London to any’ great extent. Mr. Mackay said that shipping concerns were enjoy*ing a very good season, and outward boats were loaded with produce. The Tasmanian appl® crop had been an enormous one. and th« export of fruit had risen in proportion.