OPTIMISTIC OUTLOOK JUSTIFIED

Hawke's Bay Tribune, Volume XX, Issue 192, 4 August 1930, Page 8

OPTIMISTIC OUTLOOK JUSTIFIED

SAYS CANTERBURY PROGRESS LEAGUE. * A SPECIAL STATEMENT. “Despite the talk of trade depression and falling prices there are several factors affecting the economic pos 7 ition of New Zealand that support an optimistic outlook. Cheaper money rates are stimulating business re; covery in our overseas markets, pur banks hold unusually large supplies of liquid capital in the form of fixed deposits reaidy for investment in enterprises that can show a reasonably prospect of profit. The temporary depression resulting from the reoenj fall in our export prices has caused us to overhaul our machinery of production.’

Thus runs a statement from thy Canterbury Progress League to the Cheer Circle. In times of prosperity, the statement continues, extravagance in public and private expenditure and wasteful methods of production tend to creep in. These are gradually eliminated during times of trade depression, with the result that thy productive mechanism of the country emerges from the ordeal with greater efficiency and improved prospects of increased properity when the inevitable upward turn of prices occurs. Improvement in productive efficiency is already shown in the record output of butter and wool last year. In a country so richly enpewo with incomparable pasture Igßds. cheap power resources, facilities for the development of secondary industries now in their infancy, and f healthy, intelligent population capable of a high degree of cooperation there is every reason to look forward to the future with that spirit of hopefulness and resolution that was so characteristic of the pioheers who laid the foundation of our Dominion's prosperity.