27 JULY 1929, Page 31

Economic conditions in South Africa have been favourably affected during

the past year by much-needed rains, while as regards the gold industry of the Rand the previous record pro- duction in 1927 was exceeded in 1928, the value of the output being over £44,000,000. The prospects for the future are described as favourable, but, Mr. Smart added : " The further outlook will be more satisfactory after the solution of the problems concerning the maintenance of the supply of native labour and the creation of new economies in production to offset the rise in costs caused by the increasing depth of mines."