ANOTHER ATTACK

Evening Star, Issue 20879, 24 August 1931, Page 8

ANOTHER ATTACK

‘ LABOUR DAILY' ON THE DOMINION

" LAND OF PROPAGANDA "

Press Association—By Telegraph—Copy right

SYDNEY, August 24,

(Received August 21, at 10.30 a.m.) With a front-page streamer, “ S.O.S. from tho Land of Propaganda,” the ‘ Labour Daily ’ says:

“ How correct was this paper’s recent diagnosis of the financial and economic position in New Zealand may bo gauged by a cablegram from Wellington, published here on Saturday, that panic lias seized the Tory Legislature in the land of Forbes and Coates. Since the ‘ Labour Daily’s ’ criticism awakened the slumberous dominion to realities there lias been the first real stock-taking. Niemeyerism—a mere slashing of earnings—lias failed even more dismally than in all the other countries where the ‘ Otto ’ blight has fallen. For two years the New Zealand Tory Press has cloaked the perilous position there by drawing attention every day to the shocking example of Australia. As a result of this slandering of tho Commonwealth our securities have depreciated by 25 to 35 per cent, below par, while those of New Zealand have gone up to premiums of £7 10s to £l7 10s above par. Had the propaganda been the other way the prices would have been reversed in favour of Australia and against Now Zealand.”