BLOW TO SOCIALISTS

Hawera Star, Volume L, 10 January 1931, Page 5

BLOW TO SOCIALISTS

AUSTRALIA’S ECONOMIC COLLAPSE.

CRITICISM OF CONSERVATIVE.

(United Press Association—By Electric Telegraph Copyright.) LONDON, Jan. 8. “The Australian breakdown lias given a deadly blow to the economies of Socialism,” declared Mr. A. M. Samuel, MP. Conservative, in a mid-day address at the Tradesmen’s Club. lie said. “H Australian wheat and. wool cost more to produce than the customers can pay.they must remain unsold. “The unemployment created by S'ocialist economics caused the Australian State railways to lose £B,SOO,CKX) last year. The Australians say: We borrowed money from diabolical capitalists to build, run and meet the losses on our ralways.’ Now the diabolical capitalists refuse to lend more _ there is. no reason why Australian Socialists should not find capital for the railways themselves, but they cannot unless they sell their ’ products, which are too Mr. Samuel was Minister for the Department of Overseas Trade, Parliamentary Secretary to the Board of Trade, ‘ and Under-Secretary of State for Foreign Affairs in the late Conservative Government. He was the author of the Programme on British Trade Policy adopted bv the Chambers of Commerce of the United Kingdom at a soeeial conference in 1916 and used as the basis of the Paris Economic Conference' of the Allies the same yeai.