CAUTION NEEDED

New Zealand Times, Volume L, Issue 11656, 22 October 1923, Page 4

CAUTION NEEDED

WARNING TO TRADERS DANGER OF RECURRENCE OF EXCESSIVE IMPORTATIONS. CUSTOMS RETURNS GREATER. Per Press Association. INVER O ARGI El/, October 20. Speaking at a luncheon given in his honour by the Southland League and the Chamber of Commerce, the Hon. C. J. Parr, Minister of Education, made a few observations regarding the country’s financial position, both public and private, and sounded a note of caution against another orgy of extravagance and land gamblings, which was likely to lead to a repetition of the slump of 1920-21. The country, said Mr Parr, was well round the corner now, and he hoped the recovery had not been ton quick, which was some times dangerous. The recent returns for six months had indicated that- the estimated revenue had been exceeded by £900,000, principally in Customs receipts, which indicated a larger importation. It was absolutely essential to keep the trade balance right. Retailers were, he thought, inclined to be a littlo too optimistic, and they should exercise caution. There was no cloud on the horizon, but he thought it better to be careful of land v&lujes aaid importations during the next 12 months. The railway returns for the six months just closed indicated a remarkable improvement over the corresponding period last year, to the extent of £227,000.