SOUTH AFRICA.

Manawatu Standard, Volume LIII, Issue 6, 5 December 1932, Page 7

SOUTH AFRICA.

ECONOMIC CONDITIONS ON MEND CAPETOWN, Dec. 3. The Prime Minister, General Hertzog, addressing his constituents, gave no hint of a change in the monetary policy. On the contrary, he said he could not imagine that a greater calamity could befall the country if it were so foolish as to go off the gold Standard.

He accused General Smuts of gross ignorance regarding the recovery of Australia, and quoted a Melbourne report that wool cost a pound to produce and realised BJd a pqund. The Wool Committee had stated that the industry was on the verge of collapse in Australia- Britain had to compromise with her creditors or declare her insolvency. Devaluation was blind robbery within the law and could only be justified by the direst state of necessity. General Hertzog said he was convinced that the economic conditions of the South African Union were on the mend- The defection of Labourites at Germiston was another indication of the efforts of enemies to rob Afrikanders of their language rights. He announced his retirement from politics after tho general election in 1934.