DOMINION’S CREDIT

Hawke's Bay Tribune, Volume XXI, Issue 306, 10 December 1931, Page 7

DOMINION’S CREDIT

IMPORTANT THAT IT BE MAINTAINED. LORD BLEDISLOE’S ADVICE. Batea, December 9. The importance of maintaining NewZealand’s credit in tho eyes of the world, and especially Great Britain—her best customer and largest external creditor —was stressed by the Gover-nor-General, Lord ,Bledisloe, when speaking at a civic reception at Patea to-day. His Excellency quoted President Hoover’s statement that “we must put some steel bars in the foundations of our credit structure,” and went on to say that the once firm concrete of New Zealand credit needed similarly to be reinforced. The metal needed for the process, he said, were fourfold: — (1) The strictest,, economy of public expenditure. (2) The obvious solidarity of all classes and all parties in effecting national rehabilitation. (3) Tho reduction of unemployment and improvement of monetary exchange by tho purchase of New Zealand or British goods in preference to those of countries which purchase little or none of the Dominion’s products. (4) Tho frank recognition by the whole community that tho wellbeing of tho farmer is vital to its economic existence, and. on the part of tho farmer, that ho must apply up-to-date scientific methods in providing his British customers with uniform produce of the exact quality and description which they demand. With such reinforcement, His Excellency said, the credit, of the Dominion would be maintained and its foundations made more statue than ever before.