“The Otto Blight ”
NEW ZEALAND BLAMED I OR DROP IN AUSTRALIAN SECURITIES. “LABOUR DAILY” THROWS MORE STONES United Press Association.—By Electric Telegraph.—Copyright. SYDNEY, Aug. 24. With a front-page streamer, “S.O.S. from the Land of Propaganda,” the Labour Daily says: “How correct was this paper’s recent diagnosis . " the financial and economic position in New Zealand may be gauged by the cablegram from Wel- )' *gton published here ou Saturday. Panij has seized the Tory Legislature in the land of Forbes and Coates, f' . o the Labour Daily’s criticism awak> uecl the slumberous Dominion to realities there li . been tin- first real stocktaking. Niemeyerism—a mere splashing of earnings—has failed even more dismally th::;i in all otli.r countries where the Otto blight has fallen. “For two years the New Zealand Tory Press has cloaked the perilous position there by drawing attention every day to the shocking example of Australia. As a result of this slandering of the Commonwealth, our securities have depreciated by 25 to : ' per cent, below par, while those of New Zeal d have gone up to a premium of £7 10s to £l7 10s above par. Had the propaganda been the other way, prices would have been reversed in favour of Australia and against New Zealand.”
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Bibliographic details
Manawatu Times, Volume LIV, Issue 6636, 25 August 1931, Page 7
Word Count
205“The Otto Blight ” Manawatu Times, Volume LIV, Issue 6636, 25 August 1931, Page 7
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