OTTAWA CONFERENCE.

Waikato Times, Volume 111, Issue 18653, 3 June 1932, Page 5

OTTAWA CONFERENCE.

AUSTRALIA’S HOPES. MR HUGHES’ FAREWELL ADDRESS. In a farewell address to the Millions Club, Sydney, prior to his departure for Europe, Mr Hughes said he expected the British Empire to give a lead to the world at Ottawa In war debts, reparations and currenpy. Britain had been within an ace of destruction; her industries had been stagnant, overseas trade had fallen off by hundreds of millions, and the. number of unemployed was appalling. But Britain was big enough to sacrifice the gold standard, elect a National Government, and discard free trade. This had given her a new lease of life. Such an amazing adaptability to environment, such a readiness to throw over old ideas for new ones, would save the world. “It is a saddening paradox that we see in this lively, smiling, fertile garden of ours unemployed, dejected and desperate people amid abundance,” said Mr Hughes. “There are great mountains of goods, but men cannot buy them. Machinery, instead of being a blessing, is threatening to become a curse.” Follow Britain! “Our ideas have to be readjusted. At last we have come to the end of every resource of creating fresh employment. Machinery is so dominating man that we are producing wealth which we cannot consume, and machines are taking bread out of the mouths of the people. "It is up to you business men in Sydney to realise that you are living in a new world. Follow Britain, which threw down the Golden Calf and trampled upon free trade.” He said that before Britain went off the gold standard manufacturers had to quote foreign buyers at 50s a dozen. The day the nation went on to sterling they could quote 37s 6d a dozen and wipe out competitors.