TOO MANY MOTOR CARS.

Auckland Star, Volume 304, Issue 304, 23 December 1926, Page 4

TOO MANY MOTOR CARS.

i "MUST BE CUT DOWN." ! 1 SAYS DUXEDIX BROE__R. '"'The only fly in the ointment in regard to the future, so far as one can discern." said Mr. Hannan Reeves, chairman of the Dunedin Stoc__ Exchange, in his annual review, "is not so much the reduced prices the Dominion is receiving for its primary products, as the large amount of money being sent out of the country for the importation of motor cars. Xo doubt, this is the cause to a very great extent, of the trade depression throughout the Dominion to-day. Whilst 1 do not wish to be regarded as a pessimist, 1 foresee stringent financial times ahead, unless the importation of motor cars is very considerably reduced. There are in many cases an extravagant luxury, a severely wasting asset, and. I fear, are often bought by people who can ill afford to purchase. We cannot expect improved puces for our products. but we should expect a curtailment of the huge sum sent out of the country annually in the purchase of motor cars, tyres, and petrol. During the last three years, thesum of £22.580.000 has been sent out of Xew Zealand, and mostly to America, thus severely affecting our trade balance. There can be only financial trouble ahead if it is continued.'"