Greymouth Evening Star. AND BRUNNERTON ADVOCATE. FRIDAY, DECEMBER 7th., 1928. GOOD TIMES AHEAD!

Greymouth Evening Star, 7 December 1928, Page 4

Greymouth Evening Star. AND BRUNNERTON ADVOCATE. FRIDAY, DECEMBER 7th., 1928. GOOD TIMES AHEAD!

JT cannot be denied that rather unfair use was made by some Opposition campaigners during the recent general elections struggle, of the unemployment crisis, insufficient credit being given to the Government’s efforts to alleviate the distress caused by economic circumstances affecting not only New Zealand, but the whole world/ including the prosperous United None should . belittle the evils wrought by unemployment, biff the time has come when more optimism can prevail. Sir J. Ward struck the right note in the House of Representatives yesterday, when he spoke of the possibilities of increased employment, and it is to be hoped that his example will be followed. More confidence is necessary to develop national prosperity, as if discussion is concentrated on the darker side of the picture, purses will be closed and trading enterprise cheeked.

The claim that the Dominion’s outlook is improving and should continue to do so, is not mere thought fathered by hope. There are happy signs everywhere. At this, season of the year, of course, increased business is expected, the Christmas gift-customs and holiday preparations causing circulation of money. Aften the 1 New Year lull, there should be a permanent revival. The Dominion’s wool-sales have made a satisfactory start, prices of other primary products arc encouraging, and most farmers report a good season so far. Money is much “easier,” and mortgage and advance rates are being lowered, and are more favourable to the borrower here than in Australia. Indeed, it is authoritatively reported that New Zealand capitalists are finding it difficult to find suitable investments for their cash, and this must make 11mm look more fa vourably on proposals I hoy have hitlmrlo lurned ■ down. Cheaper money will be of great benefit to both primary and secondary producers, avho, in turn, will be em-

boldened to extend their respective enterprises, thus, creating new avenues for employlnent. This forthcoming prosperity will be all the more welcome because it will not be temporary and artificial, due solely to large borrowings by the Government. Some degree of loans, will of course, be essential for large public works, but Sir Joseph Ward is too experienced a financier to borrow unwisely. His-

tory has told this country and all others, of dangers in excessive bor- . rowing, which, as a remedy for unemployment, is worse than the . disease. Indebtedness must be kept relative to production and population, and any policy minimising the latter two, and placing little barrier on the borrowing must prove disastrous. Government administration costs, too, should set the example in true thrift, the aim being not so much to reduce expenditure, as to see that full value is obtained for all outgoings from the public purse. It is a truism that cannot be emphasised too often that waste of public money, with its attendant evil of heavy taxation, causes great distress and unemployment. The West Coast must share in the forthcoming prosperity, its progress being gradual rather than of the “boom” nature. The occasion is opportune to urge West Coasters to display local patriotism in their purchases, endeavouring, as far as is practicable, to keep the money earned on the Coast, within the district. It is not easy to place in employment all the younger generation on the Coast, but far more openings would be available if pre- ' ference of patronage were given by Coasters to their own local establishments. Meanwhile, let all communities talk “prosperity” rather than “hard times,” thus creating the atmosphere of greater confidence, which conditions justify.