PRIME MINISTER'S SPEECH.

Press, Volume LXIX, Issue 20903, 10 July 1933, Page 9

PRIME MINISTER'S SPEECH.

LONDON COMMENT. SYMPATHY WITH NEW ZEALAND. (Special lo United Pre*.-! A-socmiuii, >."evr Zealand.,! LONDON, July 7. Referring editorially to the Rt. Hon. G. W. Forbes's speech at the New Zealand Society's luncheon.. "The Times" says he described with admirable force and brevity the gal-, lant effort made by New Zealand to adapt her economic life to the world crisis. "In explaining the supreme importance the people of New Zealand attached to 'the World Economic Conference, Mr Forbes was expressing the unanimous sentiment of all the delegations from the British Dominions;' says the article. "There is no reason why the discussions begun at South Kensington should not be continued among those countries willing to take the active steps laid down by Mr Neville Chamberlain at the outset of the conference, for, as Mr Forbes said plainly enough, unless some means is found of raising the prices of primary products there is no prospect for the recovery of countries like New Zealand. "New Zealand has made a laudable effort, at the cost of substantial sacrifices on the part of her people, to adjust herself to the depression. ! but that effort can only meet with [ the success it undoubtedly deserves if the attempts to raise the world ! price level arc ultimately success- ; ful." ! The "Morning Post'" says in a ■ leading article: j "The New Zealand Government has made valiant efforts to compensate for the loss of income by lowering costs. But costs, as we ■ know only too well in England, are stubborn, and New Zealand has | been unable to drop them more than 20 per cent. Against a fall of 50 per cent, in the price level this is obviously quite inadequate. Yet from our own experience we can rcadilv believe Mr Forbes when he tells us that little more can be achieved in that direction. i | Dominion's Hopes. "Help must be sought m the raising of prices. Yet nothing a small country like New Zealand can do by herself is likely to be of much avail. She is utterly dependent on the outside world, and is entitled to expect from her customers a just reward for her labour. It is easy to imagine the hopes with which Mr Forbes set out to represent New Zealand at the conference and the bitterness of the disappointment if the conference should prove a broken reed. "But there is another source to which Mr Forbes has properly called attention: The statesmen ol the Empire can take advantage of their assemblage in London to concert further measures for mutual help in continuation of the Ottawa agreement." , The "Financial Times says editorially: AT T . , "The figures cited by Mr I-orbes are striking testimony to the desire of New Zealand, which is still the second largest individual buyer of lour manufactures, to develop its trade with Great Britain to its utmost capacity. What therefore, is more natural than that its Prime Minister should voice the growing belief that the solution lies in a more intensive endeavour to promote the interchange tween the countries of the Biitish Empire, in the'spirit of the Ottawa agreement.''