OUTLOOK BRIGHT.

Hawera Star, Volume XLVII, 7 January 1928, Page 7

OUTLOOK BRIGHT.

PRIME MINISTER’S OPTIMISM

PRODUCE PRICES GOOD

“There never was a day,” said the Prime Minister at Ruawai, vvhen the revenue and expenditure of the country were more carefully watched and expended than at present,” Mr. Coates said he was sure that posterity would not feel the weight of the present development. The total number of registered unemployed had never exceeded 4000, although the total was probably up to 7000. . The country’s credit was at high water mark. Wo were borrowing money more cheaply than other countries could, though that was no excuse for excessive borrowing. W T ith increased production and increased, population a certain amount of borrowing was necessary to comjdete the Government’s policy of railway, roads, and electric power schemes. The Prime Minister said he was quite sure that hydro-electric power schemes would be one of the best investments the Government ever had. He looked forward to 1940 to the Government having from £6,000.000 to £8,000,000 in cash, which could be used either to reduce the cost of power or to go into the Consolidated Fund.

For eight months to the end of November the increased revenue over all services was £50,000, and the figures for the preceding corresponding period had been a record. The Customs revenue showed a slight du*p, but there were reasons for that. The production of wool was a record. There were over 26,000,000 sheep, the greatest number since 1918. Butt hr and cheese' prices were good, and the wheat crop would lie a record for all time. Fruit and honev were also good, and the value of primary products exported would he £5.000,000 more than last year. —“Dominion.”