N.Z. FINANCES

Hokitika Guardian, 13 December 1938, Page 5

N.Z. FINANCES

EXPANSION IDEA MEN ON PUBLIC WORKS. */Per Press Association.—Copyright).

WELLINGTON, December 12. The need for better balance between ' public works arid industry 'ywriis rejferred to by the Prime Minister (tliefßt, Hon. M. J. Savage) when asked in an interview this evening if the Government's scheme of industrial expansion was expected to result :ii a simultaneous tapering-off of public works activities. Mr Savage said the steps already'taken to release men on public works for work on farms was a definite move in this direction. “We have to get a better balance between public works and secondary industry,” said Mr Savage. “To the extent that we can take m'en from public works and put them into industry, that will I be done. The secondary industries of the Dominion must be developed to obtain that better balance. I am not one who thinks . money has been wasted on public works. It is apparent that values have been created every minute by expenditure on’' v puisHcf' l worltsV s Ministers of the Crown "and“ : olticiaj's • are very active at the present time in getting the whole situation more evenly balanced, and whatever problems existwill have to be removed.” v Asked if the measures designed to improve the balance between public works and industry were (likely to involve a curtailment of any major public works .undertaking, Mr Savagesaid all these works would be completed.

BANK NOTES IN SYDNEY. WELLINGTON, December 12. Complaints by New Zealanders returning from Australia that New Zealand banknotes were not acceptable win Sydney were criticised by the Prime Minister (the Rt. Hon. M. J. Savage) in an 'interview this evening. He said no intelligent ..persoii would go out of the Dominion and • expect New Zealand banknotes to be circulating in an overseas. country. “Whoever saw Australian notes or those 'of any other overseas country circulating in New Zealand?” asked Mr Savage. “These statements are tjnade by New Zealanders trying to ‘damn their country because Labour is - in power. No intelligent person

would go to Australia with a pocket full of New Zealand banknotes, and expect them to be accepted/ Of course won’tr be accepted, for New Zealand currency, dpes not circulate in Australia, and- it is difficult to imagine that anyone should ask that they be accepted. “I should think that anyone Ending it necessary to . visit Australia would take the proper course, and' avail themselves of the facilities "Ifered by the New Zealand and Australian hanking systems. While these people are trying to damn the Government, trade in their own country is booming.” , IMPORTS POSITION. WELLINGTON, December 12. Referring to orders placed before December o and to goods received from overseas before December 31, the Minister for Finance (the Hon. W. Nash) said to-day that-' the trading banks without a license would provide all the funds necessary to meet the documents on arrival.

Funds to meet documents for goods ordered on or before December 5, dispatched from overseas ports on or before December. 31, which reach the Dominion after December 31, would be provided, oh presentation of a license issued by the Collector of Customs at the time of the importation . of the goods. . . ■ Funds for goods ordered subsequent to December 5 would only be provided on presentation of a license obtained from tlie Customs Department.