DOMINION PROSPERITY.

New Zealand Herald, Volume LX, Issue 18341, 6 March 1923, Page 9

DOMINION PROSPERITY.

OUTLOOK OF INDUSTRIES. J MR. MASSEY OPTIMISTIC. DISCUSSION BY TRAVELLERS. Various aspects of the Dominion's trade and economic position were touched upon at yesterday's session of the Commercial Travellers' Conference. The following message was >' received from the Prime Minister, Mr. W. F. Massey: "I am glad to be able to assure the conference of a substantial improvement . in the financial position of the Dominion, ' and that there are good grounds for confidently expressing the opinion that the ' country is making a satisfactory recovery from "the unfortunate depression which overtook New. Zealand in common _ with other parts of the worldthe inevitable result of the great war. There has been a gratifying increase in the prices'of our primary products in the world's markets, and therefore a proportionately augmented return to our producers. Our trade, lam glad to sav, affords another satisfactory i index of the gradual return of the , DoI minion to her former prosperity, and I feel sure that the importance of this con- . dition of affairs will be appreciated by the ! commercial community with , whom the ; members of the association are so closely connected." The Mayor, Mr. J. H. Gunson, gave consideration to the matter during his speech at the civic reception. It could be optimistically said, and with greater justification than hitherto, that the slump I had been passed, and that better condij tions faced the Dominion. The value of imports was altogether out of proportion I to the value of exports, and oou'd not be justified in view of the total wealth of the Dominion. This state of affairs was doubtless due to the extravagance of the people, but an unsound condition . was bound 'to bring its day of reckoning. As : Minister for Customs, the Hon; W. j Downie Stewart had performed a credit- | able work in adjusting the country's i tariff, but, in the speaker's opinion, i not nearly enough 1 had been as yet ! accomplished in that direction. Na- ! tional prosperity depended upon twofold interests, agricultural and industrial. If commercial travellers did something to build up New Zealand's growing industries it would be something to help to decrease the country's enormous financial indebtedness abroad and restore a sound condition of trade. i Replying to the Mayor, Mr. H. H./ Wauchop, honorary treasurer of ' the association, said the commercial travellers had already made a move in the direction pointed out by Mr. Gunson in resolving at a recent conference to do everything in their power to promote manufactures in the Dominion and push British goods for all they were worth. The president, Mr. A. Thompson, in his opening address, called attention to the question of Imperial co-operation. At a time when the relations between the Mother Country and her Dominions , were generally so harmonious, he declared, they must deplore the recent pronouncement of the Prime Minister of Canada apparently urging non-co-operation except when selfish personal interests demanded , it. Such a policy, if put into practice, could only result in the disruption of the Empire. They must look forward with hope to 'the Imperial Economic Conference, which would consider the great questions of migration within the Empire and the provision of capital for the development of the vast resources of the Dominion. Population and capital were two of the urgent needs of New Zealand. 1 It was pleasing to note that the Government already* proposed to reduce taxation, ' and if this promise were carried into effect they might look forward to considerable progress in manufacturing ' industries, which were certainly capable and . worthy of development. Mr. Thompson suggested that a resolution be passed later urging upon the leaders of the various parties in Parliament the urgent necessity of i>eing suitably represented at what promised to be an epoch-making conference.