10 OCTOBER 1931, Page 32

The other crisis, however, is concerned with our refusal to

have been guided by these world conditions in shaping our own domestic policy. Every point that I have mentioned concerning developments abroad, although beyond our control, called for economy in our National Expenditure, reduced working costs with regard to our industries and the lightening of the burden of taxation. The necessity for attention being given to these matters has been urged upon all political parties in season and out of season, but in vain. Nothing but the approach of actual crisis served to cause a few of the more responsible members of the late Socialist Adminis- tration to pause and endeavour to reverse the engines.