The Treasury returns of the Commonwealth and the States for the Month of May and for the 11 months the financial year 1929-24 indicate {hat the various governments are Going better fnanctally "than they st year. The Pederal revenue largely exceeds the estimates made by the Treasurer, and the several State returns indicate increasing revenues, largely from taxation, which in no way accords with the popular impression that busines fs bad, and that the country is on the verge of financial stringency. The wheat crop was taken of early in the Seat Suetessfully, and the returme are good, while prices remain high. The Pastoral dstrits "have had) good Tama, and the price of wool remains tractive. "A big meat contract has been secured by Queensland from the Imperial government, the cotton harvest is giving good results, and sugar the season has been 29 exceptionally favourable that many the sugar mills ae starting work Greeks before, their. usual time.
Maize and. fruit are also giving food. results and. the spirit-of Srganization is abroad, so that the Producers will not find tat seasonal Emenities "are at once fllowe? by the gluing of the markets, and low and unremunerative prices.
The erection of the Celotex factory, costing £300,000, is [practically assured, and this will give grater profits to the sugar industry, while the manufacture of motor spirit from molasses will add 'a value of about 15s, to every ton lof sugar.
Mining alone does not show any' progressive activity, though there fare immense quantities of minerals. {to be recovered the moment the cost Jof doing so can be brought down. The prospecting and development of the Mount Isa silver field in North Queensland is proceeding, and so far there is no reason to consider the earlier estimates exaggerated. The public credit is good the Commonwealth having just borrowed £10,- 000,000 in London and New South Wales, £5,000,000. Yet business is declared dull, and there is a good deal of pessimism for which one can-mot account, and with which it is dificult to agree.
Text read from the printed page and cleaned; old type leaves the occasional error.