A LESSON FOR N.Z.

Hokitika Guardian, 19 November 1932, Page 2

A LESSON FOR N.Z.

AUSTRALIA AND DEPRESSION. METHOD OF TACKLING IT. WELLINGTON, November 18. A belief that efforts to restore confidence in New Zealand should he made along the lines followed in New South Wales, was expressed yetserday by Air 0. O. Maxell garb, the Wellington barrister, who returned in the Maunganui from Sydney. “The confidence that was lost in New South Wales under the Lang regime is being restored by the present Government,” he said. “The lesson for us in New Zealand is that our emergency measures .followed too closely those of v the Lang Government.”

Tlie method being adopted to rebuild confidence in New South Wales was by the amendment of the Moratorium Act, Air Mazengarb said. He was convinced that a similar move should be made in New Zealand to offset the blow caused by the Expenditure Adjustment Act and the Alortgagors’ and Tenants’ Relief Act.

When the New Zealand investor had the assurance of the Government thatthere would be no more experimental legislation, he could l seize the opportunity of investing to advantage, and once that prooe-s began, as it had already begun in Australia, New Zealand would once again be on the way to prosperity. The depression appeared definitely to be over in Australia, Air Alazengarb added. Business was being built up on a new basis, and in Sydney there was a note of confidence and optimism.