NEW ORDER.

Auckland Star, Volume LXIV, Issue 259, 2 November 1933, Page 15

NEW ORDER.

CRITICAL TIMES.

EXPRESSION OF OPTIMISM.

AUCKLAND EMPLOYERS,

"We must practice a measure of economy and all round self-denial, tempered, however, with the resolution to spend freely and wisely as opportunity arises, and so assist in providing employment," declared Mr. Albert Spencer, president of the Auckland Provincial Employers' Association in moving the adoption of the report at the thirtysecond annual meeting of the association yesterday afternoon. There was a large attendance. No one, said Mr. Spencer, knew what would be or when would come the solution of the critical times through which civilisation was passing. In the welter of argument, one factor stood out—the old order had changed and, in the belief of many, was giving place to a new. The world was probably upon the dawn of a | changed economic system, but among the multitude of proposals and experiments not one had yet been finalised. Everyone had hoped for some good from the Economic Conference, but owing to the fact that Mr. Roosevelt had decided he must first put his own house in order, the conference had ■ been practically abortive, so far at least as the main object, the stabilisation of currency, had been concerned. All eyes were at present upon the American National Recovery experiment, and the result was anxiously a waited. It had to be realised, said Mr. Spencer, that Australia had sensed the importante of secondary industries in stabilising its finances. The tariff against foreign importations had been raised with most beneficial results. The tariff against Britain had caused British manufacturers to establish factories in Australia. That had relieved the dole fund, as it had given employment to some thousands. It was a silver lining to the financial cloud when the Australian Government reduced taxation and the tariff at the same time, and it was to be hoped that the New Zealand Government would be able to follow suit.

Town Versus Country. "It is regretted that there has been wide divergence of views regarding the tariff question in New Zealand, which has developed into practically a conffict between town and country interests—or what is erroneously supposed to be such interests," ho said. "As a matter of fact the interests, of town and country are identical. Some 60 per cent of our production is consumed by the people of New Zealand, and if it were not for the heavy burden of debt, caused by reckless extravagance in the past, the country could be largely self-contained, and able to produce locally nearly all the necessaries, and many of the luxuries of life. As a food producing and gold producing country, New Zealand has an assured though it-s prosperity and wealth producing capacity is, of course, largely dependent on the ratio of prices of commodities which can only be finalised after the world problems of reparations and war debts and the stabilisation of currency and rates of exchange have been settled. "Collapse of Credit." _Tt was probably a healthy sign, continued _ Mr. Spencer that" so much discussion was going on relating to questions of economics and monetary and banking problems. Some of the views ventilated were, wildly fantastic, but others contained elements of truth, and the question as to how far and under what safeguards and restrictions social credit could be utilis-ed for public requirements had to be seriously considered. The collapse of credit had brought about a state of affairs in New Zealand which could not be allowed to continue. The extreme difficulty in obtaining capital for industrial development was evidence of a lack of confidence, which was becoming morbid and tended to bring about the disaster it feared. Fortunately, with a. slightly rising tendency in the prices for primary products, and the marked trade revival in Britain, a more hopeful feeling was developing, which might be the precursor of a return of confidence, which would mean a re-establishing of normal business credit.

"The present time of travail may lead to a solution of the troubles of the world more quickly and more effectively than we at present realise." In seconding the motion for the adoption of the report, details of which were 'published last week, Mr. J. S. Dawes said that ho was' pleased to see that a research committee was being set up by the Employers' Federation to study current problems, particularly unemployment. He referred to the necessity of employers maintaining their present organisation. Very important changes wore taking place, and it appeared that there was going to be more Government interference in business in the future than had been the case in the past. It had to' be remembered that New Zealand was in a stage of very unstable political equilibrium. It was impossible to say what the future held or whether the startling industrial changes in America would later, in dome degree, be reflected in New Zealand. Loss of Secretary. Reference was made by the president to the recent death of Mr. S. E. Wright, secretary of the association. Mr. Wright, he said, had done work that had been appreciated throughout New Zealand, and especially in Auckland. Mr. J. Sayegh said that the Labour people wished to place on record their regret at the death of Mr. Wright who, while always doing his best for the employers, always fought the battle in a fair and square way.

Tribute to the services carried out on behalf of the association by Mr. Spencer was paid by the Hon. E. W. Alison. A motion expressing appreciation of Mr. Spencer's work was carried unanimously. The following executive committee was appointed: —Messrs. A. Spencer, J. S. Dawes, J. C. Entrican, E. W. Alison, J..A. C. Allum, M. J. Bennett, T. H. Bowie, G. Grey Campbell, C. W. Cales, G. F. Gardner, J. A. Graham, G. Hardley, F. Hellaby, T. Impey, sen., W. J. Jaggs, G. F. Lane, S. H. Leyland, James Lowe, G. Mills-Palmer, A. W. Page, R. G. Milligan, A. Thompson, W. E. Alexander, B. G. Stephens, J. L. Hanna, J. M. Hardeastle, R. H. Montgomery, C. S. Lees, G. S. Poole and Captain R. C. Hammond. In addition 29 representatives of affiliated unions were also appointed. At a meeting of the executive held after the general meeting Mr. Spencer ■was re-elected president and Messrs. J. S. Dawes and J. C. Entrican vicepresidents. The president and vice-presidents, with Messrs. J. A. C. Allum. J. Lowe and C. W. Coles, constitute the finance committee. Mr. W. A. Anderson was unanimously appointed secretary and treasurer.