SOUTH AFRICA

Evening Star, Issue 21316, 21 January 1933, Page 13

SOUTH AFRICA

PARLIAMENT OPENS THE GOVERNOR-GENERAL'S SPEECH Press Association—By Telegraph—Copyright. CAPE TOWN, January 20. (Received January 21, at 1 a.m.) The Governor-General’s speech at the opening of Parliament expressed the hope that in the World Economic Conference lay the foundations on which the nations would bo enabled, to start anew the construction of national and international well-being. Referring to Ottawa, Ministers were confident that the agreements would prove of lasting advantage to the agriculturists and to the country as a whole. Already the markets were responding. _ Ministers were convinced of the necessity of continuing assistance to farmers. Recent events had set in motion an intense drain of the money resources of the banks, and the only alternative to a catastrophic financial crisis was to release the Reserve Bank from its obligation to redeem notes in gold. The speech foreshadowed legislation taxing the profits on exchange. The opening ceremony attracted unusual attention in view of the political situation. The Nationalist caucus pledged its support to General Hcrtzog.