CZECHOSLOVAKIA

Manawatu Standard, Volume LI, Issue 197, 22 July 1931, Page 11

CZECHOSLOVAKIA

PROSPEROUS REPUBLIC. Czecho-Slovakia, according to the Consul-General (Dr Kuraz), who lectured in Sydney a few days ago, is almost free from strikes, and has nevei indulged in currency inflation. The results of her national policy are that, although only of about the same area as Victoria, she supports a population of 15,000,000. Ever since she regained her freedom as an independent republic in 1918, she has had a favourable trade balance; since 1923, in spite of the examples of other European States, where the policy of inflation was followed, the currency has been stabilised, no notes being issued without a corresponding reserve in actual securities, and the national budget has beenbalanced every year since 1924. This prosperity, said.Dr Kuraz, was mainly due to the scientific management of industry and a spirit of cooperation among all classes. This made industrial quarrels rare. Czecho-Slovakia’s chief industries were iron and shoe manufacturing. One of the principal iron works employed 65,000 operatives. The output in 1930, a year of world depression, was lO per cent, more than in 1929. There was an understanding, he concluded, between Australia and Czechoslovakia, that his country should not export to Australia any goods which would compete with the products of any well-established Australian industry. Direct imports to Czecho-Slovakia from Australia wereffor,w r , but the balance of trade favoured Australia. This position was created by the fact that Czecho-Slovakia bought her requirements in European markets. It was possible to establish the fact that many of them came from Australia, however,, since a Czecho-Slovakian regulation required that all imports should be accompanied by a certificate of origin.