AUSTRALIAN PROBLEMS.

Taranaki Daily News, 26 August 1930, Page 9

AUSTRALIAN PROBLEMS.

COMMON POLICY WELCOME MUCH ATTENTION IN BRITAIN SURER CONFIDENCE SEEN By Telegraph—Press Aagn.—Copyright. London, Aug 23. Not for years have Australian financial affairs received so much attention in the British l?i eea x ae during the past week. First came a series- of differing forecasts, or the decisions of the Melbourne conference from various correspondents. Financial circles were relieved by the decisions, which were immediately published with the full official report, of which adequate summaries have appeared in the entire Pre>-is. The City generally, having t.ixen time to digest the report, has favourably received the decisions as evidence of a nation-wide common policy. Hie appointment of a committee representative of the States as well as of the Common wealth to carry out the decisions is welcomed as proof that the problems are going to be tackled earnestly and effectively, leading to a steady, if gradual, movement towards equilibrium. In the meantime, 'despite some wild alarmist cables from Australia, responsible quarters never doubted that the recently consummated exchange pool ensures absolutely due provision for debt services. Sir Otto Niemeyer’s approval of the Melbourne resolutions has naturally given added value to this, and leadin" authorities are convinced that if people will only accept the inevitable sacrifices entailed by the necessity ioi reducing costs of production- there wili be surer confidence here! in the Australian situation than there has been fpr some time, past.