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Hokitika Guardian, 29 January 1932, Page 4

CoMi’iiKTK confidence in the future of Australia was expressed by Mr Montague Cohen managing director ot Godfrey Phillips (Aust.) Pty.. Ltd., on his arrival from Sydney on Monday morning by the Makura. “Australia is a wonderful country with tremendous possibilities, Sound and stable government will ensure tier quicker recovery from the world-wide depression than will be the case in most oilier countries. The livens Government .is facing the facts and only in this way will eondence and stability be restored. There is no short cut to prosperity. The estimated deficit for the financial year 1931-3 1 2 was u.*nounced just prior to my departure as slightly in excess of £1,000.000, hut as substantial sums still have to he collected in various forms of taxation, the Commonwealth Treasury officials are well pleased with the general position. Lyons and Bruce may he relied upon to see that the decisions of tlm Premiers’ and Treasurers’ Conference will lie properly observed during the present financial year. Mr hang is still regarded as the stumbling block in New South Wales, ami many political prophets indicate an early Stale election. There seems to be no doubt as Ithe issue. I am looking forward with keen interest, Mr Cohen continued, to the outcome of the Ottawa Imperial Conference. Australian opinion is keyed up, and people realise that Australia's fului'o is dependent upon the Imperialistic altitude she is now adopt inp;. It 's I’ll 11 v realised that Hie r n epeiait ion of Great Britain w'll mean a tremendous fillip Lo Australian trade. Gold standard or no gold standard, London i s still the ir rye-coni re of uof'hl linanee. There is no doubt ip my inin<l that however difficult the task may he, I'.llgla lid will b lance lira Budget IPs year. The Tinted States Budget is likely |i he unbalanced, according to reliable figures In the extent of l()(U'/"> (Kit), and lb- lOcneb Budget showed a (!e. n -il mi In the end of Deeeiiilior last ot not: less Hum £-18.ODH. 1)00. H is clear to me that I lie fill lire of Britain' am| the Domini cn is nil closely interlocked, and

Ottawa must be yet another cornerstone in tlie fruitful development of our glorious Empire.