The Pahiatua Herald PUBLISHED EVERY EVENING TUESDAY, AUGUST 22, 1933. WHEN THE DEPRESSION ENDS.

Pahiatua Herald, Volume XLI, Issue 12428, 22 August 1933, Page 4

The Pahiatua Herald PUBLISHED EVERY EVENING TUESDAY, AUGUST 22, 1933. WHEN THE DEPRESSION ENDS.

The oijinion that Australia will probably be the first nation to emerge from the depression, as expressed by JDr. Ernest Scott, Professor of History in Melbourne University, lias long been shared by those who have closely followed the trend of events m the Commonwealth. There are several reasons why Australia will be the first country to benefit. In the first place she put her house in order, and had what might be termed a vigorous spring-cleaning so far as the federal and State Governments were concerned* This gave the people confidence, and with the knowledge that they were to be better led in the future than they had been for some time previously, the people gave spontaneous support to the big conversion loan. Again, the Commonwealth has been aided by good seasons and good markets. This applies particularly to wool, for which excellent prices have been realised at the .various sales. Moreover, the nativeborn Australian is not a pessimist, and he is not a purveyor of gloom. This fact was illustrated on the occasion of the wool slump after the great war. It was noticeable then that Australians were not downcast, this Jbemg attributable by some observers to the influence of genial climatic conditions. To a cheerful courage and a resolute determination to win through can be largely attributed the belief that Australia w ill make a splendid recovery.