AUSTRALIAN DEPRESSION.

Otago Daily Times, Issue 21244, 27 January 1931, Page 9

AUSTRALIAN DEPRESSION.

ONLY PASSING PHASE. COUNTRY’S RECUPERATIVE POWER. (Special to Daily Times.) AUCKLAND, January 20. _ Confidence in the ability of Australia to triumph over her present difficulties was expressed by the Federal Minister of Markets and Transport (Mr Parker Moloney) in an interview. Mr Moloney, who is a through passenger by the Aorangi, said he had often been appalled at the misunderstandings and lack of knowledge about Australia generally. The Commonwealth was merely passing through a cycle of depression, such as was found in every country in the world which he had visited. The only difference was that other countries were not proclaiming their troubles from the housetops, whereas the worst side of Australia’s difficulties was given undue prominence. He felt sure that the Australian delegates to the Imperial Conference had done something to dissipate the erroneous impressions which were current about the Commonwealth. The fall in world prices, more particularly of primary products, had naturally affected Australia like other primary producing countries, but those who were controlling the destinies of the Commonwealth had no fears for the future. With her wonderful resources and recuperative powers those at the- head of the Administration had no doubt that Australia would come triumphantly through her present chapter of difficulties. Commenting on the Imperial Conference, the Minister referred to the fact that the most cordial relations had existed between the Australian delegation and the New Zealand delegation, headed by Dir G. W. Forbes.