SANE OPTIMISM.

Auckland Star, Volume LXII, Issue 88, 15 April 1931, Page 11

SANE OPTIMISM.

MB. M. H. WYNYARD'S APPEAL A.H.B. AND "CHEER UP WEEK." ADVICE TO INVESTORS. A sound plea for sane optimism was made by the chairman of the Auckland Harbour Board, Mr. M. H. Wynyard, at yesterdays meeting, when lie men'tioned the part the board was taking in helping the promoters of "Cheer Up Week." "In 1840," said Mr. Wynyard, "what might be called the port of Auckland was Commercial Bay, a bay curving from Point Britomart to the foot of Albert Street, with tidal waters running to the foot of the cliffs along the present line of Fort Street and Queen Street and a stream discharging into it ■about the foot of Swanson Street. Here was a landing, whence a track led to Te Poi pa, a native village situated about the site of the Star Hotel. It was along the debouching line of the stream that Queen Street came into being. Today the street has been advanced over reclamations carried out by the board till it extends nearly half.a mile into old Commercial Bay and is bounded on each side by many of the board's properties. The Three Graces.

• "it is fitting, therefore, that the Auckland Harbour Board should take part in the movement to celebrate the anniversary of the street, and, in the spirit of such movement, I would say that the virtues we have to exercise at the present time are those of the three graces, faith, hope and charity. ' "Faith in our destiny and in the return of prosperity , to our land,, hope which sustains us in adversity and points to a better time ahead, and charity to assist the weaker ones in their time of trouble. We have justification for faith from the, history of the past, the growth in the short space of 90 years to a city of a quarter of a million inhabitants, the overcoming of . trade depressions in the past and the steady progress and development of. our. hinterland. We have justification for hope in the dawning of a return of prosperity, fewer empty houses, more farming sales, improvement in wool prices, all point in that direction.Charity we must exercise to help those in distress. The board has done what it can. It has reduced interest on farm mortgages to 6 per cent, it has to. the extent of its finances maintained any justifiable construction work to keep as many of its staff employed as possible. More Confidence Needed. "The great need to my mind to help prosperity along just now is greater confidence of investors, in, thp future. The Dominion is dependent on its primary products. Investors should help.the farming community, and, all said and done, " there are no sounder -investments and none so prolific of good to the community than mortgages of broad acres with good margin on reliable valuations. The Auckland Harbour Board, in dealing with its reserve funds, has adopted this attitude, and has never had any cause to regret it. _ Depressions such as we have. been undergoing have been felt • in the past, but though pessimists predicted disaster, prosperity has come again. And it will do' so now. "Some people point to the world-wide nature of the economic,position as making it particularly difficult. But as so mariy are involved, all the world is concerned in obtaining a solution, arid it may be that by united action it will come the sooner. "Meantime, we in our conduct and assistance; practising the virtues of the faith, hope and charity to jjvhich I have referred, can do our bit toward the ultimate revival of prosperity." -