BETTER TIMES AHEAD

Hawke's Bay Tribune, Volume XXI, Issue 303, 7 December 1931, Page 9

BETTER TIMES AHEAD

NEW ZEALAND’S FUTURE ELECTORS CLEAR THE WAY. BRITISH TRADE REVIVAL. INFLUENCE UPON EMPIRE. The road to prosperity in New Zealand, for so long shrouded in a fog of depression and uncertainty, grows clearer with a steady persistency that must leave no room for pessimism. To travel the road, will call for united and determined effort on the part of all, but although vitality has been strained by the rigours of the economic storm, the brighter times which shino visibly ahead have already revitalised the Dominion’s sources of energy. Tho post-election speeches of the Prime Minister, tho Rt. Hon. G. W. Forbes, and his partner in tho Coalition, tho Rt. Hon. J. G. Coates, reflect admirably the sentiment of tho people of New Zealand, who have given an earnest of their determination to grasp what fortune offers by returning the Coalition Government to power. Both leaders have voiced their faith in the Dominion’s ability to win through to the sunshine of happiness and plenty which they see clearly is to be reached if the people so will. BRITAIN AND PROTECTION. Evidence of the return of happier days has been plain to see in the past few months, although two clouds of uncertainty have recently cast a shadow over the prospect. These were the British and the New Zealand elections, but fortunately they obscured the view for jieriods only of brief duration. The way is definitely brighter for their passing. A great stimulus to optimism was afforded when the results of the British elections became known, for in spite of non-committal statements by several of the leaders nt Home, including Mr. Ramsay MacDonald, the impression was abroad that the return of the National Government was synonymous with a policy of trade protection, which tho Dominions have so long urged as a solution of the Empire’s difficulties. That impression has steadily strengthened, and the passing into law and effect of the Abnormal Importations Customs Duties Bill Ims shown definitely the change of sen. i . nt in Britain. In addition, the large balance of members of tho British House of Commons who favour protection by tariffs and the fostering of Empire trade makes the outlook distinctly favourable for New Zealand and the other Dominions. DEPARTURE FROM GOLD STANDARD. Although opinions differ as to the ultimate outcome of the departure from the gold standard, the immediate effect upon British industry, which in turn must make itself felt in the Dominions, has been a revival in trades that had languished almost to extinction. With thousands of British workmen leaving the ranks of the unemployed for industry every day, the market for Empire good is surely growing. The rise in the price of silver, upon which the East depends for its very existence, means an enormous addition to the purchasing power of Eastern buyers of British cotton goods. India takes 29.6 per cent, of Britain’s total export of piece goods, so that the benefit to Lancashire in this direction alone is cause for optimism, for Britain’s gain is New Zealand’s gain. FAVOURABLE TRADE BALANCE. Coming to the actual performance of New Zealand industry, the figures show that in the 12 months ended June 30, 1931, a new record was established in the volume of exports. Although; as a result of low prices, tho returns have been lower than normal, the increased output show’s that the Dominion is progressing upon the lines of greater production. The drastic curtailment of imports is further evidence of New Zealand’s determination to put its house in order. Although the value of exports for the first 10 months of the year declined by £10,572,000, imports over the same period were £16,000,000 lower, the excess of exports over imports amounting to the encouraging figure of £8,044,314. Compared with last year, the apparent favourable balance was £5,500,000 larger. The disappointing response at the opening wool sale in Auckland, and the feeling of uneasiness caused by the precipitate decline in sterling, have not tended to promote optimism, but reasonable explanations tend strongly to the belief that tho position is only a temporary one. MORE EMPLOYMENT OFFERING. Unemployment is a spectre that looms large in New- Zealand, but there is evidence that the future may be looked to hopefully. Something in the nature of a trade revival is being experienced in Dunedin, according to the latest reports from that city, where a number of tradesmen who were on relief work are resuming their normal employment with manufacturing firms. Ono Dunedin foundry is engaging men every day in order to cope with orders, and in the past week has absorbed 30 men. Others firms are engaging their hands on full-time work after a period of rationing, and a woollen company has this week provided permanent work for 20 machinists. Problems in plenty remain to be solved, but when there is a heartening certainty of prizes ahead, such as exists to-day, problems not only demand energy, they inspire it. In the words of tho Primo Minister, “NewZealand has shown itself to be sound to the core.'’ This is a tribute to a virile people who will not be daunted by the call for strenuous effort.— “N.Z. Herald.”