[?]Optimism (Of A

The Ng Paradox

[?]'s Business [?]Optimism (Of A Sort) In P-NG

m a New Guinea Correspondent a time when unsettled

ijions undoubtedly exist in

Trust Territory of New

Ea, commercial observers

jeling a warm reassurance

; simultaneous appearance

solid core of practical

>-ss optimism.

neir own circle, the com r:rcial men of New Guinea fir plenty of evidence of dis ▼ hear voices raised in dis ■;d protest, they hear opposi o Government policies, they gloomy prophecies. Statistics ihem a recent drop in the Guinea European population, near at least one speaker in group say, “I’m a fool to stay situation places a business m a peculiar position where itorn between two forces. He :»reach insecurity and appeal Eange, but he tends to cancel in arguments by remaining in ss and expanding, situation is not unusual, and tnly too well illustrated in Jl some weeks ago by qu stions 0 the Chairman of Rabaul oer of Commerce, Mr. J. K. *g.

Dowling and other members Chamber had been holding with officials of the Depart- Df Trade from Canberra. Mr. ig in one breath drew atten -1,0 conditions of commercial :rity, and in another spoke of expansion and initiative.

Conflicting

two points of view appeared tflicting that one of the Can officials could not help but ie question right back to Mr. iig—what did he really mean, :3 arguing two points at once, expect to keep his cake and as well?

Dowling’s answer, unfortun degenerated into an overall ;sion among all delegates pre loncerning the precise defini •f the word “security”. It is loubtful if the trade officials iway a clear picture of how Chamber of Commerce felt the matter. 1 the position can be clari ;or everyone, this conflict of

ideas will continue to exist. Australian officials will tolerantly smile when they hear commercial men calling for an overhaul of trade conditions, but little will be accom- The officials will continue to imagine that the New Guinea businessman is not too badly on, ana that he is calling for excessive concessions.

But here is a condensed analysis of the position which may help to clear the picture and which should illustrate the paradox of how insecurity can go hand in hand with a sound economy—for a limited time, anyway. 1. While cocoa and copra prices remain adequate and while the commercial structure of New Guinea remains much as it is today, then the economic structure of the community will continue to be very sound in itself; BUT—

2. While there is no policy de~ finition of what is going to ]} a PP?£ to the Trust Territory of New Guinea, or when anything is going to happen; then the not a good commercial risk for out side money and continued damage “VJL b accruing m^ o^d ac a c t in another way, this 4. 4. be Deo nle living in New g®f£ e a realise g°gS£ST that the economy of the Territory is a sound proposition; but they can produce no giit-edge proof to justify any risk outside interests, Businessman X sitting in his office j n Mango Avenue, Rabaul, may realise that a certain proposition has a certain basic value to ensure long-term equity. But how can he guarantee the situation to outside interests when the very title to the land on which a business is situ ated could (theoretically) vanish overnight?

This is the real problem.