DOMINION’S OUTLOOK

Greymouth Evening Star, 2 October 1930, Page 5

DOMINION’S OUTLOOK

APPEAL FOR OPTIMISM PANIC UNWARRANTED [SPECIAL JO “STAB.’’] WELLINGTON, October 1. Pessimistic statements as to the financial and economic condition of the Dominion were strongly deprecated by the Acting-Prime Minister (Mr Ransom) in the House, to-day, in response to several speeches from the Opposition benches in which stress was laid on the seriousness of the present position. “If some readjustment is not made soon,” declared Mr Burnett, in addressing a question to the ActingPrime Minister, “the employing classes cannot employ, and working people will be workless. He sug gested that as all the authorities were agreed that the Dominions’ selling season would be opening shortly, with all the primary products at a lower level than last season’s closing prices, a. state of emergency should be declared immediately after the rising of Parliament, and a found table conference called of representatives of all State, pastoral, agricultural, manufacturing, banking, mercantile, industrial, legal, and medical interests, with a view to seeing if, by the facing of facts, amicable readjustments in the industrial life of the Dominion could not be effected. “There is no necessity to resort to •the panic measures indicated by the Hon. gentlemen.” remarked the Act-ing-Prime Minister, in reply. Several Reform members, including Mr Burnett and Mr Coates expressed regret, that the Acting-Prime Minister had dismissed the question briefly and not agreed to act as suggested.

Mr Ransom said he was sure the Dominion was not in such a parlous condition as to justify the Government in acting as Mr Burnett suggested. Sir Otto Niemeyer, the eminent financier, who had just visited the Dominion, did not regard NeNw Zealand as being in a serious position. Mr Polson: You never gave him the opportunity to investigate. Mr Ransom: The position is not nearly so serious as it was under the Reform administration in 1921-22, though I do not suggest that the administration was responsible for that depression. Undoubtedly, the present position was a difficult one, but experience had shown that this country could overcome difficulties. An attempt was being made to saddle the present Government with the responsibility of the present serious position. The Government, however, was endeavouring in a systematic, and thorough manner to overcome the difficulties.

NO NEED FOR FEAR. Referring to the suggestion that all varied interests should be called together in conference to try and overcome problems of the day, he did not believe bringing together of interests which were diametrically opposed to one another would achieve any good results. It would be better to take the difficulties systematically, and deal with them separately. That was being done in regard to railways, which was being investigated in a. thorough manner by the Royal Commission. Other questions were being tackled in the same statesmanlike manner. if people realised the wonderful resources of the country and buckled on their armour and all did their bit, there would be no need for fear. He did not regard the position as being so serious as to justify the action as had been proposed for he was convinced the country would recover. The Dominion’s wealth was not wrapped up in any one particular industry. He realised that the wool producers were feeling the pinch, but the industry was not so hard hit as it was in 1921-22. So far as dairy farmers were concerned, the great increase in production had enabled the dairy factories to pay out more than in the previous year, despite lower prices. “I am going to do my best,” said Mr Ransom, "to stop this wave of pessimism which is being swept over the country by the Opposition.” The Minister of Labour (Mr Smith): It is electioneering. Mr Ransom: I have every confidence that this country can rise to th© occasion and more than recover its position within a. reasonable period.” He added that recent financial reports showed that the bottom had been reached so far as prices of our products were concerned. Some people believed a slight fluctuation in prices indicated that the Dominion was falling into a morass from which it could not escape, but he deprecated that view. DISTRESS IN AUCKLAND. AUCKLAND, October 2. Although the Auckland City Mission Had hoped to close its night, shelter about, this time, the number of men seeking a free meal and a bed last night was above the average. The secretary said that since Mr Ransom’s statement, that work was being found for the Auckland unemployed, men from all parts of the North Island have been arriving, in the hope of finding work. Many arrived in a pitiful state, with their boots worn off their feet.