What of the Night?”

Manawatu Times, Volume LIV, Issue 7191, 24 June 1933, Page 6

What of the Night?”

GOOD WILL COME OF PRESENT EMBARRASSMENT. NEED FOR WISE SPENDING Times Special WELLINGTON, J'uno 23. “We liear in these days a great deal about ‘Patriotic thrift,’ but not enough condemnation of ‘Unpatriotic thrift, ” said Mr It. W. Gibbs, Chairman of Directors of the Bank of New Zealand at to-day’s annual meeting. “I thoroughly endorse the wise remarks of our Prime Minister which were reported as follows: ‘The depression had been accentuated by people withholding expenditure which was within their means, and ho appealed to citizens as a duty to spend whenever their means permitted. There is nothing like times such as these to bring homo the duties of citizenship, and anyone in a position to be able to make expenditure has a duty to perform at the present time. If that is carried out right throughout the country, it will bring about a revival that will help to relieve the burden of unemployment.’ “The loosening of the purse strings,” continued the Chairman, “with many would only exhibit an empty purse, but with others it is only a craven fear of the future which is inclining them to hoard when they should be continuing a wise disbursement of their surplus income.

“Your Board’s principle in dealing with both shareholders and the staff has always been to act as far as was in its power on the lines of the above sound advice.

“Watchman, what of the night?” This question has been asked often of me of late, and what reply can one give? In this report I have dealt with world problems moro fully than perhaps lias been necessary ever before, but our Dominion affairs and difficulties are so inextricably interwoven with other nations’ troubles and so largely hinge on their emancipation therefrom, that we cannot hope to •see daylight here till the darkness is dispelled on the other side. I am no pessimist, and feel satisfied that the decisions of the London Conference will, as they are transformed into action, bring about the desired results. ‘ ‘ Out of all this welter of embarrassment, I am convinced that good will come, and if it only leads nations and individuals back to sanity and a recognition that we arc not concerned only with the material in life, the experience then will have been worth while. As President Roosevelt said in his inaugural address: — ‘‘The dark clays will be worth all they cost if they teach us that our true destiny is not to be ministered unto, but to minister to ourselves ancl our fellow-men.”