AUSTRALIA’S OPPORTUNITY

Taranaki Daily News, 23 December 1931, Page 5

AUSTRALIA’S OPPORTUNITY

MANDATE FROM PEOPLE ENGLAND WELCOMES RESULT EMPIRE TASK AT OTTAWA INCREASING CONFIDENCE By Telegraph—Press Assn.— CopyrightLondon, December 21. Sir James Lithgow, shipbuilder, and president of the Federation of British Industries, commenting on the Australian elections, emphasised the opportunity of the National Government. He confidently counted on its co-operation in the Empire’s task at Ottawa in building a mutually advantageous policy. He hoped that the Lyons Government would create an Australia committee, similar to th® British Government’s Empire committee, to prepare views on industry, commerce and chipping, at Ottawa. “Though obviously there is no official comment, it is certain that Whitehall whole-heartedly welcomes Mr. Lyons’ triumph,” says the Sun •'Herald. “No Australian election was ever watched with keener interest by all parties, including the Liberals, many of whom have lately been converted to look at Ottawa as the beginning Of Empire salva-tion, to realise that it is the final chance, and that failure would be disaetrous. It is agreed that Mr. Lyons’ victory means Australia, New Zealand, England and Canada forming a united front for a great Imperial trade scheme, for which Britain’s long-range policy is devised.” FINANCIAL CIRCLES GRATIFIED. The Sun-Herald says that financial circles are much gratified at the election result and expect that it will be reflected in an immediate improvement in credit. The City’s distrust of a Labour Government was increased by the tendency of Messrs. Scullin and Theodore during the campaign to flirt with inflation and political control of the banking system, owing to their inability to keep Langism in check. The Lyons victory is sure to consolidate the better sentiments of the past two months, following the advance in wool and other prices, and will stimulate the recent small flow of money into investments in Australia. The Daily .Mail hails the election results as a complete triumph for the honesty and political insight of the Australian people. “The electorate clearly gave a mandate for drastic economy and extension of Dominion preference,” says the paper. “Voters may be assured that Britain will soon reciprocate.” The Financial News says that never perhaps in the world’s history has there been so striking a demonstration as that which Australia afforded of the crushing effect of political folly upon commercial progress. “If Australia can be freed for a decade from selfish and ignorant sectionalism her economic recovery may confidently be expected,” the paper adds.

The Financial Times saya that the result puts out of office in the person of Mr. Theodore one who seemed to seek to promote inflation and a subversion of the banking machinery to public extravagance. The Premiere’ plan should now go forward unswervingly to a complete restoration.

Mr. Lyons’ victory is considered a good omen for the Ottawa conference, as Britain, Australia and New Zealand are all assured of long terms of etabla government. It is felt in official quarters that the prospect of a far-reaching Empire agreement is now much greater, for Mr. Lyons’ aims coincide with those of Britain.

■While British ofiicial quarters liked Mr. Scullin personally, they undoubtedly feel happier in dealing with the Lyons’ Ministry, because they know it will receive solid backing at home, whereas they might not feel sure that Mr. Scullin’s unruly followers would always implement his undertakings.