LOOSEN PURSES

Dominion, Volume 24, Issue 50, 22 November 1930, Page 10

LOOSEN PURSES

Cure for Depression

GLOOM EXAGGERATED

Mr. E. Newman’s Optimism Dominion Special Service. Marton, November 21. “When once confidence is restored and people realise that the present must be the best time to buy on account of cheap markets, then an improvement all round may be expected,” said Mr. E. Newman, C.M.G., during his opening address at the Marton rose show. “Personally I think that all who can afford to employ extra labour and spend their money should do so. I know many people, who are sitting tight and who have ceased employing labour who can well afford to carry on. This is no palliative; it increases the depression and unemployment. It is the duty of all to snend what they can afford and not to tighten their purse-strings when those less fortunate are suffering from the consequences of less money in circulation and the prevailing unemployment.” “It is a strange fact that whenever bad times come along people are apt to persuade themselves that they were never worse off.” said Mr. Newqian. “If anything, the gloomy outlook has been rather accentuated by some of the newspapers emphasising reduced returns for this and that product. We are really more fortunate than other countries,” he went on, “for it is only two years since the best year New Zealand ever had. “It has been my portion to see many so-ealled slumps, and a feature common to all of them was that they were past sooner than expected. Even now reports from Home markets indicate that things are improving. Let us all look on the bright side of things, and we shall, better them quicker.”