AUSTRALIAN FINANCE

Evening Post, Volume CXII, Issue 91, 14 October 1926, Page 12

AUSTRALIAN FINANCE

AN OBNOXIOUS PAMPHLET

CALCULATED TO DECEIVE

STATEMENT BY MR. BRUCE.

(linked L'resa Association.—Copyright.) (Received 14th October, 2 p.m.) LONDON, ]3th October. Mr. Bruce, who intends later to make ;i complete and considered reply to the recent pamphlet attacking Australian credit, lias issued the following interim statement: "The pamphlet in question bristles with inaccuracies and omissions, but is presented in a. form calculated to deceive the casual reader. This-is apparently its purpose. "On close analysis it would be found that the writers are more interested ,in the politics of the various Australian Governments than in tho actual question of finance. Tho result is a mass of biased conclusions, based on neither the science of statistics nor a logical reasoning. NOT AN IMPARTIAL REVIEW. "One point only need be mentioned to indicate that the object of the publication was hardly what it purported to bo, namely, a warning to the British investor. The pamphlet i; solemnly dedicated to tho Imperial. Conference, 102(5, and apparently was issued to synchronise with my arrival. . I do not hesitate to say it cannot bo regarded as an impartial review of Australian finance or Australia's potentialities. "The authors, who profess concern not only about the British investor, but about tho Empire generally, apparently forgot to mention that we have a rapidly-expanding population, OS per cent. British; that we have never defaulted nor ever looked like doing so. FOECES FOR DISRUPTION. "It is more than regrettable that at a time when I, as representative of Australia, am in the van . leading a fight for Empire unity, there should be forces working which, whatever their avowed intention, are doing a great deal for disruption. When I left Australia there were several representatives of great American financial corporations who were both willing and anxious to lend money to Australia. They had personally investigated the conditions, and apparently found them satisfactory," "In these circumstances-I feel-con vinced that the sound conservative policy of the British investor will not be deflected by a pamphlet which is so obviously incomplete and inaccurate."-,