Balancing the Ledger

———♦——— New Guinea Affairs Plan of Rigid Economy

" IN spite of reducing taxation on copra by about 10/- per ton, we hope to be able to come very close to balancing the ledger at the end of the financial year. This has been made possible only by rigid economy in expenditure.”

The Administrator of the Mandated Territory of New Guinea (Brigadier- General E. A. Wisdom) made this statement on his arrival in Sydney by the Montoro. He is on his annual visit to Australia, and has already proceeded to Canberra to discuss administrative affairs.

He added that a big drop in the price of copra had been a severe blow to the planters, and also to the Territory, as 93 per cent, of its production was copra. Owing, however, to the assistance given by the Commonwealth Government, reduction in taxation and the help of the merchants, the plan ters were likely to pull through.

“A Big Gold Producer.”

General Wisdom said that the production of gold had slowed up considerably, owing to the working out of alluvial and concentration by the large companies, which had acquired most of the leases, on development. Large plants were being put into operation.

It would be probably 18 months or so before production increased to any extent, but after that there was no doubt in his mind that New Guinea would be a very big gold producer. ———