INVESTED ABROAD.

Auckland Star, Volume LXIX, Issue 286, 3 December 1938, Page 20

INVESTED ABROAD.

NEW ZEALAND CAPITAL. Mli. DAVID H KNIIVS VIKWS, (Hy Telejrrnph.—Prc«s Association.) WKLLINViTON", Friday. Mr. David Henry, vice-presidi-nt of the Xew Zealand Manufacturers' Federa--I tioii. states that ut a conferetK'e this week, dtirinjr discussion on a motion — dealing, with the transference of funds overseas, he pointed out that jun-t lis Xe xv Zealand manufacturers had the liberty to sell goods where they secured the best returns it seemed illogical for them to deprive investors of the same freedom of action, am! for that reason he opposed the particular motion referred to. flip! view was that money should lie attracted into X'exv Zealand, and equally attracted to remain here, and that the potent power of attractions would be more valuable than the application ot' restrictive influences, hut if the Cov eminent considered that the jMisition of overseas funds was sufficiently critical to justify restrictive measures he hoped the»*e would be purely temporary. In common with every other person who was proud of Xew Zealand he deplored the drift of money from the country, and his own view was that the announcement hy the <•ovcrnmeiit. of details of the plan for further development of the industries in Xew Zealand would do a ..Teat deal to attract capital into industry and witness the return of funds which had jroiie overseas. Confidence was the chief cornerstone of the industrial fabric, and he felt certain that it. would not lie lacking when the public were fully informed of the Covernment's plans for developing industry.