ONEKAKA IRON COY.

Wanganui Chronicle, Volume 77, Issue 221, 18 September 1934, Page 5

ONEKAKA IRON COY.

BRITISH CAPITAL INTERESTED ( Per Press Association. ] WELLINGTON, Sept. 17. A project is afloat to rehabilitate on a big scale, with at least £2,000.000 of British capital, the paralysed Onekaka iron-ore industry at Golden Bay. If it should come to achievement, the Onekaka Iron and Steel Company will be paid £150,000 for the whole of its present assets, including an estimated aggregate of 60,000.000 tons of iron-ore deposits, large areas of limestone, and extensive measures of coal in a rich mineralised district. Railways in the Earle Ministry from 1914 to 1916, and become Leader of the. Opposition in November, 1916. When Labour again assumed office iu October, 1923, Mr. Lyons was Premier, Treasurer and Minister of Railways, holding office until March 26, 1924. Later he was Premier and Treasurer until the Labour Party was defeated by the McPhee Nationalist Ministry about three years ago, when he again became Leader of the Opposition. He is very popular in Tasmania, and on being induced in 1929 to contest a Federal seat against a Nationalist, he was successful. Joining the Seullin Ministry, he received the portfolio of PostmasterGeneral, Works and Railways. Early in 1931 he resigned from the Govern ment, having-had a split with his chief on the subject of fiscal policy. His contention was that costs mus’ be cut. and that it was useless playing with credit. He made a notable speech in the House of Representatives, giving his reasons for leaving the Cabinet and the Labour Party, and later referred to “Labour’s foolish despots.” In March, 1931, he toured the Commonwealth in support of his new policy, and made a patriotic appeal to bondholders, remarking that “London will help, but the people must be honest.” He became leader of the United Australia Party, and led it tn victory at the last elections. FINANCIAL POLICY ISSUE AT THE POLL. U.A.P. AND U.C.P. UNITED. LONDON, Sept. 16. The Times, in a leader, says: The election was fought so much on the issue of financial methods, on which there is such complete unanimity of Air. Lyons and the Country Party that it seems clear that the Australian policy will be guided for three years by the principles which have already done so much to restore her credit. MANDATE TO GOVERNMENT LONDON, Sept. 17. The Daily Tclegn'.ph says that the United Australia Party has good reasons for being satisfied with the election returns. Labour was split into two parties and no substantial progress was shown. The Country Party was rather weaker and the Communists nowhere. 'The Australian verdict is a mandate to the Government to carry on the good work. Australia has done ' what Britain has done, and an joys her reward in the shape of relief from taxation. The Common wealth is happily running no risks in connection with banking. CANADIAN. OPINION AUSTRALIA’S EXAMPLE. VANCOUVER, Bept. 16. General gratification at Air. Lyons retaining power is expressed in Canada, where Australia’s remarkable recovery under his guidance is -widely quoted, as an example to Canada and tho United States. NEW ZEALAND COMMENTS MESSRS. FORBES AND COATES [ Per Press Association ] WELLINGTON, Sept. 17. I Commenting on the Australian elec- ! lion, the Rt. Hon. G. W. Forbes said 1 that the victory of the Lyons Government was very encouraging as recog 1 nition by the Australian people of the !l courageous way the Commonweaitn * Government had faced the difficulties H of the depression, entailing a pro- I gramme of unpopular and drastic mens- I ures and involving .sacrifices by all • < sections of the community. It was a I tribute to the comnionsense of the f Commonwealth that they could dis- < tinguish between solid performance > and illusory promises. The contest »« was between a Labour Party which 1 was in office at the beginning of the i depression and the Government that had to take over unsolved problems d from them. This made the result all v the more significant, as it showed that f the people of Australia were deter- t mined to stand by stable and respon- C sible government. o The Rt. Hon. J. G. Coates remarked p that it appeared from the returns c availabel that the Australian people a had given a complete answer to the e so-called monetary cranks who had f been putting forward quack remedies- h In common with the rest of the world, g Australia had been passing through an entirely new set of lt 1> was evident that the people of the p Commonwealth appreciated what had been done by the Government to meet p the position. It was too early yet to ]j discuss the effect the election would r have on the question of the importa- t tion of Australian fruit into New Zea- s land, K