IN A FOOL'S PARADISE

Evening Post, Issue 113, 10 November 1930, Page 9

IN A FOOL'S PARADISE

AUSTRALIAN LABOUR PARTY

COMMENT IN LONDON

LONDON, Bth November. Discussing the Australian financial situation, the newspaper "Economist outspokenly asserts that .the caucus is living in an atmosphere of unreality, relying on a policy of naked inflation and "disregarding the post-war experiences of Germany and Austria. "Australian Labourites are still living in a fool's paradise, thereby seriously endangering the good work of the Niemeyer mission, "the "Economist" adds. The London position is additionally obscured by the impossibility of ascertaining the extent to which Australian securities at present are held by large interests, such as assurance and trust companies, It is generally believed such holdings are exceedingly large which, though satisfactory for smaller investors, may react disadvantageously should events produce a sudden selling by individual large holders, though such contingency must still be regarded as unlikely.