Otto Niemeyer

(1883—1971) civil servant and banker

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(1883–1971) came to Australia in 1930 at the beginning of the Depression as a leading member of a mission from the Bank of England, invited by the Commonwealth government to assess the nation's parlous credit and formulate advice about restoring it. Niemeyer's report to the Premiers' Conference of that year was unequivocal: Australians enjoyed a standard of living beyond what their economy could support. The conference accepted his findings, and Prime Minister Scullin left for England immediately in an attempt to repair Australia's financial standing. Following the publication of his report, Niemeyer was regarded by some as having done Australia a great service, by others as a symbol of foreign financial oppression., HS (1982), published part of Niemeyer's diary of his visit with an explanatory preface., Going it Alone (1977), considers the popular impact of the Niemeyer mission.

From The Oxford Companion to Australian History in Oxford Reference.

Subjects: Australasian and Pacific History.

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