THE WORLD DEPRESSION

Otago Daily Times, Issue 21544, 16 January 1932, Page 14

THE WORLD DEPRESSION

TO THE EDITOR. Sir,— Much has been written, and some hard thinking has been done as to the causes of the world depression and the effects of it. as now in striking evidence in New Zealand, Canada, and other countries. One wonders that callous financial organisations had not pressed these depressed States before this, or are their plans not finally given effect to! _ First, their “cat is out of the bag” with the chessboard move of “buy in your own country.” What a large number of goodintentioned manufacturers and business men “fell for this.” The idea was well planned, as shown in the fiscal ot other countries. “No exports, no imports, no borrowing, high exchange rates. We elected a Government to help us out ot the slough and now it is returning the favour by putting us all on the breadline. No, Sir, it was not the will of any of the peoples of the different nations, but, as was said by Mr Mackenzie King, Leader of the Liberal Party in Cahada, “ Send your produce to the world and you will not starve your people.”—l am, etc., January 14. J. M. O’Gbadt.