PESSIMISTS GALORE

Evening Post, Volume CXV, Issue 13, 17 January 1933, Page 6

PESSIMISTS GALORE

(To the Editor.) Sir,—During the past few days I have come in contact with quite a number, of businessmen,' and, every one of them appeared 'to me to be suffering from pessimism. It was a great shock to me, for I am a convinced optimist, convinced after studying as well as'l have been able, the trend of world economics. When talking to these pessimists I felt like,the silent man in a cheering crowd —out of it. I have, when given the opportunity, explained my reasons for optimism, but these businessmen looked at me with pity in their optics, as though to let me understand that I was steadily qualifying for a prolonged residence at Porirua. After hearing me through they, generally wound up with the pathetic expression "I only hope you are right!" I have tried hard to get at the root cause of this, apparently, universal pessimism, and' my inquiries lead me to believe that most business men are afraid of what Parliament will do next. One man was frank enough to _assert that he had lost all confidence in the Legislature. He contended that we were badly in need of a political leader who possessed some "intestinal fortitude" or to use a vulgar expression "guts." • I pointed out that we had a National Government, and that there were two lead" ers. He laughed. I contended that democracy would not stand for a strong leader, and said I could not see why the absence of strong leaders in the political arena .should make a pessimist of him. His retort was simple, "If you were in business you would soon know. If the National Government legislates in the future as it has done in the past, there will be no businessmen in the country."

He soon ■warmed up, or I should say he was bubbling with wrath against the Government, and before I could get in a word in reply to his last statement, he rattled off "Look at this wheat business and this compulsory wheat pool, was there ever a greaterpolitieal scandal? The wheatproblemi.has cost New Zealand many thousands, if not million of pounds. The storyy egins with the outbreak of the vjar. The late W. P. Massey promptly secured an option over a million bushels of Canadian wheat, because he thought he saw the probability of a wheat famine. As a matter of fact we were never short of flour or bread throughout the war, and what is more we were never short of tea, which we could not produce if we tried. The wheat option, was sold at a loss. After the war the wheat duties were put into operation, the excuse "or reason being that the country must be self-contained in respect of breadstuffs. That was seven or eight years ago, and only on two occasions .during that period has the production exceeded local requirements. The bulk of the first surplus production of wheat was sold to the Japanese at a bargain price. Now the excuse for outbidding the Massey Government in this wheat business is that it is necessary to save the wheat growers from bankruptcy. There is an estimated surplus of 2,000,000 bushels which must be sold to the Japanese or Chinese, for there is no other market available, and these Eastern people cannot pay even the estimated export price of 2s 6d per bushel. Can you wonder that I am a pessimist?" I did not wonder then, and I don't wonder now, I am suspicious.—I am, etc., . • ■ H.J.K.