REGRETTABLE TALK

Hokitika Guardian, 5 December 1932, Page 5

REGRETTABLE TALK

CONDITIONS IN N.Z.

STATEMENTS ARE EXAGGERATED

(Pt Press Association — Copyright.)

WELLINGTON, December 3. Comment on what he termed exaggerated statements regarding the country’s economic position was made by Mr E. Abbey-Jones (Invercargill) at the annual meeting of the New Zealand Institute of Certified Secretaries.

“It is regrettable that members of Parliament, chambers of commerce, farmers’ unions, ,and other orgnisations, many more or less irresponsible, should make such exaggerated statements as ‘the country is on the brink of ruin.’ ‘if the farmers go bankrupt everyone will go bankrupt,’ and ‘tiie Avhole of the) primary producers are insolvent,’ ” said Mr Abbey-Jones. ‘ ‘Hoav can anyone with fifty acres or more, free of debt, be bankrupt, and there must be thousands in New Zealand in this category.

“Poor people posed as passably well off a year or two ago. Now many, who are well off say they are ruined. If a business man cannot meet’ hie obligations he is forced into bankruptcy,-and the only co&sidefatlon he hijs rx fellow citizens is* "Pwr r pld;k'jonf®' u. ; He’s “bust,” lost £20,006 during the last tivo years; but he neA’er avbs a good businessman.’ If ft. fanner goes ' down after putting only £3OO cash in a £3OOO farming proposition; -'‘the country is ruined.’ r - : “There is any amount of real money available for farmers at present-day values. A leading politician keeps on reiterating that.the banks are Tunning .... the Government, yet apparently all . the bankers are doing is minding their oAvn business for the benefit and credit of this Dominion. As this institute groAvs that is what \ve should have in mind—to Avork for the credit and betterment of this Dominion.” (Applause.) .