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Hokitika Guardian, 24 April 1931, Page 4

As the Sydney Labour Daily openly remarks, “it is 110 use glossing the facts—the crisis is the most serious in forty years of our hanking history.” That certainly sums up the internal financial tangle reached by Labour administration in New South Wales. The Labour Daily rails at alleged “unscrupulous enemies,” but that is not on answer to the noneconomy policy of the Lang Government, and the fantastic legislation it lias been passing and bringing down, frightening capital out of the country, and contributing directly to the present impasse. We have to remember, and it surely is not necessary to remind the Labour Daily, that Mr Lang returned to high wages and not only persisted in keeping them up in the lace of advice from experienced hankers. hut ho restored the 44 hour working week, wjth higher taxation allround. All the time with costs mount, ing up am| production decreasing, unemployment increased as a danger .ugnal, but Mr Lang refused to read the signs. Yet the tariff and the arbitrary fixation of wages with shorter hours for work—less value for the pay which had to lie provided—such was the contributory causes to the financial downfall. There wore no “unscrupulous enemies” at work, rather was it unscrupulous politicians trying to serve their own ends, though tile nation was to have its downfall. The huge cost of government was maintained and no attempt at economy. The social legislation and burdens were added to. though the country could not meet the obligations. A real crash has come to pass. It was predicted on the evidence of the misgovernnient of the country. For pointing out the inevitable, presumably such folk are the ‘‘enemies.” The real enemies are the misgoverning Lang Cabinet, the many nets of which has not only discredited the country, but brought it down to a veritable financial disaster—the magnitude of which is not yet fully revealed. Mr Lang and his colleagues has played with the delicate mechanism of financial credit, and made a very had job of the whole business. Much contumely will bo heaped on the Labour Ministry, hut that will not mend matters, though the experience should he a lesson for other countries to take to heart. The job now is to clear up the mess with the least disorganisation, that it is unable to perform the task, and it- could save the country be«t by making way for others to attempt the difficult business.