“FULL OF COMISSIONS"

Gisborne Times, Volume LXIV, Issue 10490, 15 October 1926, Page 5

“FULL OF COMISSIONS "

“INACCURATE AND BIASSED.”

FEDERAL PREMIER ON FINAN-

CIAL PAMPHLET,

“APPARENTLY WRITTEN TO DECEIVE CASUAL BEADED.”

(United Press Assn.—Copyright.) - LONDON, Oct. 13./ Mr S. M. Bruce, who intends later to make a complete and considered reply to the recent pamphlet attacking Australian credit, has issued the following interim statement: “The pamphlet bristles with inaccuracies and omissions. Jt is presented in a form calculated to deceive the casual reader. This is apparently its purpose. On a close analysis it would be found that the writers are more interested in the politics of various Australian Governments than in the actual question of finance. “The result is a mass of biassed conclusions, based neither on science, statistics, nor logical reasoning. One point only need be mentioned to indicate that the object of the publication was hardly what it purported to be, namely, the warning to British investors. The pamphlet is solemnly dedicated to the Imperial Conference, 1025, and apparently was issued to synchronise with ray arrival. “I do not hesitate to say that it cannot he regarded as an impartial review of Australian finance or potentialities. The authors, who profess concern, not only about the British investor,, hut the Empire generally, apparently forget to mention that we have a rapidly expanding population, 98 per cent, of whom are British, that 'we never have defaulted, nor looked like doing so. it is more than regrettable that at a time when 1, as a representative of Australia, am in the van leading the fight for Empire unity fill?.t there should he forces working which, whatever their avowed intention, are doing a great deal for disruption. “When I left Australia there were several representatives of a great American financial corporation who were both willing and anxious to lend money to Australia. They had personally investigated conditions, and, apparently, round them satisfactory. Tn these circumstances I feel convinced that tne sound conservative policy of British investors will not be deflected by a pampli iet which so obviously is incomplete and inaccurate."