Greymouth Evening Star. AND BRUNNERTON ADVOCATE. THURSDAY. JULY 24, 1930. WORLD ECONOMICS

Greymouth Evening Star, 24 July 1930, Page 4

Greymouth Evening Star. AND BRUNNERTON ADVOCATE. THURSDAY. JULY 24, 1930. WORLD ECONOMICS

J7CONOMICS, long regarded as a dreary science, better left to the expert few, will have to receive more attention in future,' if national commercial welfare is to be maintained. Old ride of thumb methods must be discarded, and full information gathered as to financial and other ramifications.- World commerce is- to-day, so involved that little can happen in one part of the earth without far-off regions being affected, and in shaping national policies, tariffs or production, due regard must be given to what other nations are doing. Otherwise, heavy loss must be incurred. Lord Bledisloe made an cxcellenl speech on this subject, yesterday, at Wellington. So far as his official position permitted, he spoke frankly, and he is rendering a service to the Dominion by displaying a, real interest-in its industrial affairs. He has to be discreet in his utterances, in order not to be charged with partisanship, the unforgiveable error in. a King’s representative. But he can, without harm, express opinions derived from his knowledge of conditions here and abroad, and his contribution to Ihe discussion should be worth while. He has no axe to grind, financial or political, which cannot be said of all those participating in the debate. Summed up, Lord Bledisloe’s advice to New Zealand was to allot

her purchasing patronage to those who bought from her, in proportion to the respective amounts. The Governor-General was rather pessimistic about the Dominion’s secondary industries being able to face overseas competition. Whilst, the advantages held by the Homeland and other older manufacturing countries are considerable, yet if New Zealand employers, workers,

and consumers determined to do their best for the cause of Dominion manufactures, there would be no cause for worry. If any of the trio' shirk responsibilities, or attempt to take advantage o£ the protection the tariff and industrial awards give,—as has happened in the past —then the secondary industries cannot prosper. Difficulties were to be expected in the beginning, but remarkably high standards have been attained where the quality of manufactures is concerned, and there is no real icason why the Dominion’s secondary industries should not be continuously developed until the country is far more .self-supporting' than it is at present.

The manufacture here of goods formerly bought abroad would affect the amount of goods purchased from abroad, but Britain and Empire countries need not suffer, if the principle is maintained of preference of patronage to those who purchase from New Zealand. It is certain that it will be bad policy to attempt to sell to a good customer, without reciprocating, and it must not be overlooked that Britain has a wide choice of markets when purchasing supplies. The ‘ primary and secondary industries of the Dominion can be both encouraged, if commonsense methods prevail, by little being bought from those who shut their markets to New Zealand goods. _____