THE H.B. TRIBUNE THURSDAY. JULY 14, 1927 PROSPECTS AHEAD.

Hawke's Bay Tribune, Volume XVII, Issue 179, 14 July 1927, Page 4

THE H.B. TRIBUNE THURSDAY. JULY 14, 1927 PROSPECTS AHEAD.

fTYHERE seems to be a disposition ’ among residents of Hastings to regard their town as suffering exceptionally under the depression that for the time being is afflicting the whole Dominion. In this, no doubt, could they but make themselves thoroughly acquainted with conditions in other urban centres, both bigger and smaller, they would find that they are entirely mistaken. The probabilities are that almost every such centre entertains the notion that it has been the special victim of circumstance. This, at any rate, is the distinct impression that is conveyed to those who, as in a newspaper office, have opportunity of reading the lamentations that infest the columns of the daily cress throughout the country. Taking these as an indication, each community would appear to be regarding itself as under the bee] of a n unjust Providence. The truth of rhe matter no doubt is that for the moment the downward pressure is Do-min'on-w.ib —indeed, extends far beyond the shores of the Dominion—and that its local variations within our own country are comparatively small. In every city and town in the Dominion the abnormal numbers of the unemployed have doubtless been given a quite undue weight in siring up the present position and future prospects. Although these l umbers are greater than is usual with us, they are (till relatively small iu

proportion to the total population when compared with corresponding tallies in most older and more populous countries. What has to be aimed at is to prevent the condition becoming chronic instead of only rarely occasional, as has been our own case hitherto. So far as the present little crisis is concerned one material contributing cause for it is not far to seek. We have for some time been buying from abroad a good deal more than we could pay for out of the products that we have been sending abroad. This means that a big volume of credits which should have been available to promote the solid progress of t#ie country and provide profitable employment has gone to make up the deficiency. In short, we have as a whole been living a long way beyond our income and have put past notning towards building up the capita] essential to steady development and stable prosperity. In this respect it is good to note that imports are now being substantially curtailed, and it may be hoped that this is in the shape of luxury commodities we can easilv do without.

So far as conditions for the moment in our own district are it is very easy to see that they have been intensified by local circumstances over which no one exerrme control. Two exceptionally dry seasons, following one upon another, have badly reduced the output of the primary products that are our chief source of revenue from abroad In this respect th® dir trict has probat.-y suffered much more severely than any other in the Dominion, All indications, however, point very definitely to relief in this direction, and past experience suggests that there should be no recurrence of like untoward influences for a very long time to come. There is thus every fair hope that, with the good markets that promise, and with a proper use made of our future incomings, the back ward slip whose effects we are now feeling will speedily be made good and the district resume a more cheerful aspect. Two seasons as good for productiveness as the last two have been bad—and it look Beg .1 <»«• might safely wager upon them—would put us on our feet again Possibly, too, the pinch may do us ultimate good, if only proper recognition is given to the warning it conveys to put something by for the rainy day. Hitherto like warnings have been badly disregarded once the pressure of the pinch has ceased.