CONFIDENCE NEEDED.

Stratford Evening Post, Issue 64, 13 October 1930, Page 4

CONFIDENCE NEEDED.

When a man is a little out of sorts, he can very easily be persuaded by other people, or by what he reads in the "doctor's book," that he is very sick indeed. Mass sugpermeating in the same way, may bring his community to a similar state of mind. Many people have lately been brought to the point of believing that if this country is not on the brink of economic disaster, it is not very far from it. This view of the situation is quite wrong, states the Dominion. The world-wide fall in prices has thrown the economic machinery of every country in the world temporarily out of gear. All that is demanded of people is that they should exercise prudence, and cultivate the virtues of thrift and patience. The outlook in New Zealand is certainly not as serious as it is in Australia. But bad as it is in Australia, it is not bad enough to discourage the chairman of the Asociated Banks in Melbourne from sounding a cheerful note. "The healthy deposits held by the banks," he declares, "are the best indications of Australia's solvency." The trouble is that panic-mongering has frozen capital into a state of stolid immobility. V'nto a state of stolid JmmoWiWty. Confidence is the sun which will thaw it out and se,t, it to irrigating the channels of industry and commerce.