AUSTRALIANS

Hokitika Guardian, 6 March 1931, Page 2

AUSTRALIANS

HONEST AND AMBITiQUS. In its monthly .summary the National Hank of Australia examines the factors that are adversely affecting the Commonwealth. After expressing regret that wrangling between political sections should have deferred the adoption of a sound policy, the writer says: “Australians, generally are at bottom honest, energetic and ambitious. In no country in the world is wealth more widely distributed or opportunity rot' I advancement- more open, and wc are | confident that any party which .-tampered with the national honour, or which by deliberate actions, placed the savings, the homes, the farms and other property of the people ill jeopardy, would he given very short shrift. Consequently we are of opinion that un sound policies such as the ‘release of credits’ of inflation of the note issue would he opposed by a large majority of the voters. The publicity which advocates of inflation have obtained for their proposals have caused alarm among traders and investors, and it seems to us that those feelings of alarm have been intensified in some quarters by people who sought to make profit thereby. We consider that alarmist statements have been intensified in some quarters by people who sought to make profit thereby. We consider that alarmist statements have been too freely made, and too literally accepted, and in our re- . marks above we have sought to indicate that however great our present ! difficulties, they have only to be squar- J ely faced and resolutely combated to I be gradually and surely overcome.”