NEW INDUSTRIES

Evening Post, Volume CXX, Issue 109, 4 November 1935, Page 4

NEW INDUSTRIES

GOVERNMENT'S ACTIONS

i OIL INVESTIGATIONS-

, (By Telegraph— Press Association.)

CHRISTCHUR'CH, November 3. Present investigations of the natural resources of New Zealand,- principally lor oil, gold, iron, and flax, wore described by the Prime Minister (the Rt Hon. G. W. Forbes) in an address at Amperley pn Saturday. Mr. Forbes particularly mentioned the survey of new areas. for oil by geologists of the Department of Scientific and Industrial Research. New Zealand was now entering a period when some time could be de.vo.ted to reconstruction, said Mr. Forbes. It was necessary to determine what new industries could be established or stimulated. Many attempts had been made to'explore the oil resources in New Zealand, but the companies formed had usually lost their shareholders' money. Large areas of country, however, had never really been explored for oil. The Government had decided to initiate a proper investigation, with geological teams at work in the field. If oil could be found in New Zealand it would be of great assistance to the country. Geologists said they Were quite hopeful. An investigation was also being made into the production of oil from coal. Mr. Forbes said , improved methods had been operated in the-preparation of flax fibre, and he believed the in. dustry would one day regain its former prosperity.

After defending the Government's actions in helping New Zealand through the crisis, Mr. Forbes said that some critics of the Government said that merely by a manipulation of the currency the difficulties could be overcome. "We all know from hard experience," he said,' "that we cannot get something for nothing, and whatever fanciful .scheme for currency manipulation is proposed it has to be remembered that the bill for it will come to somebody in the- end. The Old Country, with its wide experience, has never tended to leave the rails and follow any of these schemes. Industry, prudence, arid thrift provide the only ways out. To believe there is a quick and easy way out and that our own effort and initiative are not necessary is a delusion."

Mr. Forbes, replying to a question said an immigration policy could not be considered while 50,000 people were workless. , A motion" of thanks and confidence was carried.