DOMINION INDUSTRIES.

New Zealand Herald, Volume LXVIII, Issue 20987, 25 September 1931, Page 10

DOMINION INDUSTRIES.

STIMULATING MANUFACTURES EXPANSION AND EMPLOYMENT. OVER-CAPITALISATION PROBLEM. [BY TELEGRAPH. —SPECIAL REPORTER.] WELLINGTON. Thursday. The handicap encountered by some New Zealand industries through over-capitali-sation was stressed by the Hon. R. Masters, Minister of Industries and Commerce, when opening a conference to-day between woollen mill owners and the Federation of Drapers, Clothiers and Boot Retailers, which was convened by the Department of Industries and Commerce so that there might be full discussion by the parties concerned as to steps to be taken to develop the woollen industry of the Dominion. Mr. Masters said one big difficulty to be overcome was the over-capitalisation of some of our industries. Over-capitalisation must necessarily mean a higher charge to the purchaser of goods. He considered it would be in the best interests of the country if greater business efficiency was brought to bear in reducing overhead expenses rather than looking for greater protection. The manner in which stimulation of industry would assist in reducing the number of unemployed was a most important factor and the Government hoped that every business man in the Dominion would give this aspect consideration. Great Britain, which wn.s New Zealand's greatest customer for primary products, was also suffering as a result of the unemployment problem, and the position there was reflecting itself in the progress of New Zealand. The Government and Mr. Masters' department were extremely anxious to make every effort to encourage the manufacture of New Zealand goods. Unfortunately, however, the public for some time had been too apathetic in the matter of purchasing New Zealand-made goods Possible reasons for this might be insufficient advertising or lack of co-ordination between manufacturers and retailors. Ths quality of New Zealand-made goods left nothing to be desired and the Minister felt confident that sales of locally-manufac-tured articles would increase if the publio realised that requirements could be met by goods made in the Dominion. Mr. Masters welcomed the conferences of businessmen with a view to reaching a common ground for the advancement of Dominion goods. The conference passed a resolution congratulating Mr. Masters and assuring him that everything would be done by the respective organisations represented to assist the Coalition Government- to meet and overcome the difficulties confronting the Dominion.