AUSTRALIA PRAISED.

Star (Christchurch), Volume LXIV, Issue 941, 11 December 1933, Page 1

AUSTRALIA PRAISED.

Sir Henry Strakosch Lauds Premiers’ Plan. United Press Assn.—By Electric Telegraph—Copyright. LONDON, December 9. In a speech at Bradford Sir Henry Strakosch, the international banker and financial expert, said that a most illuminating demonstrtion of how order can be evolved from an almost chaotic economic and financial situation by the wise application of remedial measures had been provided by Australia. With characteristic pluck and determination, the Australian people had set to work to remedy the situation. The Premiers’ Plan was a daring one yet logical, comprehensive and wholly consistent with accepted economic theory. “I shall probah* r be told that the Australian recovery is in the main due to favourable developments in the wool market,” Sir Henry continued. “Let me remind you that the price of wool remained at the low level of about 8?d a lb in Australian currency until the middle of the present year. I have no doubt that even a dozen good wool seasons would not have been sufficient to restore Australia’s economic and financial position without the energetic application of the remedial measures to which I have just referred.”