DOMINION INDUSTRIES.

Auckland Star, Volume LXVI, Issue 275, 20 November 1935, Page 6

DOMINION INDUSTRIES.

A more systematic, attempt to develop the natural resources of the Dominion has been foreshadowed "by both leaders of the Government. A fortnight ago the Prime Minister said that the State was taking a growing interest in the development of new industries and in the tapping of the country's resources. Oil, gold and iron were particularly mentioned,, and Mr. Forbes spoke also of more economic methods of using native flax. Last night- Mr. Coates, at Blenheim, discussed industrial expansion •■■.from a somewhat different angle. He dealt with the importance of financial co-o.peration. and the need of Government assistance in. various directions to give private enterprise a start, and among the forms such assistance might take he indicated a partial guarantee or a subsidy to enterprises which showed p'rospects of developing on a profit-making basis "within a reasonable period." He stated also tha-t a method and procedure had been devised whereby the Government could co-operate effectively and continuously with private enterprise, and envisaged a new phase of activities for the Unemployment Board. It has been known for some time that the Unemployment Board was looking into the possibilities of creating new avenues for employment in secondary industry—the deputy-chairman has said that the future of 30,000 unemployed depends upon secondary development —and the Government has had to consider the problem from still wider angles. For the farmer it is" of no small importance that the Dominion market should be steadily expanded, and this involves the growth of population, the rise of -large and profitable town industries, and' all-round national development. In one resiiect New Zealand is fortunate. It has a clear Jfeld. There is no legacy of derelict capital' as in Britain or of ill-directed capital' as. in. Australia. It is free to use the most up-to-date methods and to organise on the most modern lines. Besides this, costs to-day are low and money is cheap and plentiful. Even without State aid. new industries would have a good, prospect of success if launched undor .presentday conditions; with that aid promised, if properly capitalised their future should be assured. ' -.