SYDNEY LABOUR DAILY YELLS AGAIN

Stratford Evening Post, Volume I, Issue 218, 24 August 1931, Page 5

SYDNEY LABOUR DAILY YELLS AGAIN

“PANIC IN THE LAND OF FORBES AND COATES” “The First Real Stocktaking” “DISMAL FAILURE OF NIEMEYERISM” Press Association-Copyright. Reed. 10.20 a.m. To-day. WITH a front-page streamer heading, S.O.S. from the Land of Propaganda,” the Labour Daily says: How correct was this paper’s recent diagnosis of the financial and economic position in New Zealand may be gauged by the cablegram from Wellington, published here on Saturday.”

Panic has seized the “Tory” Legislature in the “land of Forbes and Coates” since the Labour Daily’s criticism awakened the slumberous Dominion to its realities, and there has been the first real stocktaking. “Niemeyerism”—a mere slashing of earnings—has failed, even more dismally than in all other 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 depreciated 25 to 25 per cent, below par, while those of New Zealand 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.