DOMINION INDUSTRIES.

New Zealand Herald, Volume LXI, Issue 18891, 13 December 1924, Page 11

DOMINION INDUSTRIES.

THE BALANCE OF TRADE.

WHAT SHOULD BE IMPORTED.

BRITISH - MADE PREFERENCE*

[BV TEr.KOE.tPH.—OWN CORRESPONDENT. J CHRIBTCHUECH. Friday.

! Speaking at the annual the I Canterbury Industrial Association, Mr. !J. W. Collins, Under-Secretary of the Department of Industries and Commerce, said ho thought the retiring president's suggestion to interest housewives in tho purch&sa of New Zealand-made goods was a unique and useful ono. Tho manufacturers could mako special efforts to encourage housewives to buy Domin/on goods, and ho thought tho association would find tho result of such a. propaganda remarkable. Ho mentioned a branch of an Australian trade which had been started in Wellington, the making of stockings from silk and cotton. The industry had been started in Australia with a staff of 30 hands, and to-day it had 2000 employees. Tho manufacturers were confident that if they got tho support of tho New Zealand people they would exentually havo a staff of SCO persons employed in tho Donv>".

The possibility of sccunri. industries being affected by tho improved condition of tho market for primary products was touched upon by Mr. H. R. Best, tho retiring president. As industrialists they must necessarily share in tho general prosperity of the country, ho said, but there was a cortain danger ahead and it was well that thoy should not ovorlook it. The large exports must l>c balanced by imports, and it was just there that tho difficulty lay. With tho excess of exports and a certain amount of loan money there would bo a credit balance in London running into some £15,000,000. This must be settled by imports, and they recognised that stern fact. There were thoso who accused tho association of being against all imports fanatically and without reason, but those peoplo had judged tho association wrongly. Tho association desired as far as possible to discourage the importation of gopds that could bo made satisfactorily in Now Zealand. They recognised that for many years at any rate they must import certain goods.

A suggestion had been made that, as between Britain and New Zealand the specie point had been readied and gold should be shipped to New Zealand, but that did not seem possible in view of the indebtedness of Great Britain to America. Without doubt largo quantities of goods from Europe would find their way into this country and manufacturers would find competition keen and almost unsurpassable. It behoved them to be more vigilant than ever to bring about improved means of manufacture and to give greater attention to business. He was at times disappointed to find many manufacturers apathetic to improved methods and cheaper cost by eliminating waste. There wero capable workers in New Zealand and some excellent factories and plant, but he thought a greater attempt should bo made for mass production. Greater care, in his judgment, was also necessary in costing the goods produced, for without true'cost correct selling prices could not be determined.

Reverting to the exchange, question, Mr. Best put in a plea for Imports -to b» of British manufacture. Quite a lot of new machinory and development work" was necessary in Now Zealand, and both in private purchases and in Government contracts Britain should bo preferred. Were some of tho large credit balance in London utilised for tho purchase of the machinery and material necessary to develop the natural resources of New Zealand, tb* exchango position would be eased and the future of the Dominion enhanced. Every ship was bringing immigrants and opportunities for the newcomers were required.