CANDID AND VALUABLE

Hawera Star, Volume XLVIII, 11 January 1929, Page 5

CANDID AND VALUABLE

REPORT BY “BIG FOUR.”

\ LESSONS must be heeded. AUSTRALIAN PRESS COMMENT. ;* .'re&s Association —Uy Electric lex.giu,,. topyrigat.) I Australian Press Association.; SYDNEY, Jan. 10. The “Big Four” are among till© pasctengers from Sydney l>y the Aorangi for Auckland and. Vancouver. Tiie "Sydney Morning Herald,.” coma mentingi on the report, describes it as candid and vamabie, and tempered with, goodl humour. It add® that tihe rte- ’ forms implied or suggested will be forced upon Australia from without, if not cheerfully adopted from within. “\Ve must assume the report will be accepted in London as one which accurately mirrors AutraSian oonditionis, and unless w© evince readiness to heed ita lessons financial accommodation will become much less easy to obtain.’ ’ The “Herald” admits Australia has nob been as wdil financed as it should have been, but is of opinion that there is .still time to repair this mistakes. The “Telegraph Pictorial,” in a leader on the report, say® it will’ dto all the good in the world if it draws vigorous criticism. The fact that the report touches’ on protect ion 'and arbitration may seem to some people/like the dentist’s borina -instrument approaching a nerve corner of a, venerable tooth. The “Sun” comments there is not one criticism in the report _ which thoughtful Australians in public life and in the Press have not uttered.” The report speaks frankly of Australia’s mistakes and omissions, but by keeping in mind our political difficulties it should have told uts liow to remedy them. ” The “Sun” ‘ considers Air Bruce made a tactical mistake in inviting criticisms . which, from its official character and free trade flavour, must do a- certain amount of damage to Australia in the ranks of British investors.

LONDON OPINION

GOOD IMPRESSION MADE.

LONDON, Jan. 9.

The city editor of the “Morning Post” states that- in spite of, or perhaps because of. the candid character of the report, the effect in the city will! probably be more favourable than otherwise. The mere fact of an invitation and a candid report has already made a good impression with, friendly critics of Australian borrowing. The opinion that much of the borrowed money is expended’ on unprofitable or partly profitable schemes is in accord with the opinion held in the city. Likewise the opinion on the railway services will be’ generally accepted here. Apparently the reference to the high cost, of production deals with the point which has been .a matter for concern here. The abnormally high wages in development work often seemed to endanger at the outset the chances oa commensurate return. At the back of all the criticism, of Australian finance, however, there is a.mplie groutucli for generous recognition that large sums are required to develop the countrv’s resources. Nothing but /rood can come of the freest discussion of the whole situation.