THE OTAGO DAILY TIMES THURSDAY, MARCH 15, 1934. LABOUR'S REMEDIES

Otago Daily Times, Issue 22212, 15 March 1934, Page 8

THE OTAGO DAILY TIMES THURSDAY, MARCH 15, 1934. LABOUR'S REMEDIES

Anticipations on the. part of those who attended the Town Hall on Tuesday evening of hearing at least a stirring and stimulating address from the Leader of the Opposition concerning the way out of the economic difficulties by which New Zealand, in common Avith other countries, is beset, may or may not have been satisfied. The, Labour programme being what it is, Mr Savage is perhaps entitled to some sympathy in the effort entailed for its presentment in really appealing colours. To his credit lie is himself content to avoid the verbal exuberance and extravagance so often associated with the utterances of members of his party. Mr Savage would emphasise that, as regards the fundamentals, the philosophy of Labour remains unchanged. He did not offer a specific reminder that they embrace the socialisation of the means of production, distribution, and exchange, but dwelt on the consistency of the Labour Party in maintaining that living standards within the Dominion need not depend upon external influences, and that successful international action could be based only in successful internal action on the part of the nations concerned. Therefore, from, the Labour point of view, all the. clamour and trouble over our

overseas marVts is a result of our own shortsightedness, since New Zealand should not be dependent on those markets for her prosperity, but should presumably live within herself, thus finding comfort and happiness. Wo are apparently invited to regard the United States as providing in some rather mysterious way a strong argument in support of the. soundness of such a proposition. She is cited as "the shining example" among all nations at the present time in her attempt to put her house in order. But the marvel is perhaps that she should have to put her house in'order —its deplorable i ate is not disputed —if a policy aimed at the development of a self-contained country is all that some people would claim it to be. The adoption of a suicidal policy of economic isolation is advanced by many Americans themselves as an aggravating cause of their country's difficulties, and part of Mr. Roosevelt's programme is now to reduce tariff barriers.. The shrinkage and disorganisation of world trade is recognised as one of the outstanding obstacles to the restoration of improved., world conditions. As for the idea that the experiment in which the United;States is involved offers justification for the faith of those who advocate that the salvation of New Zealand depends upon measures which bear some rather hazy resemblance, to the American recovery plan, :it is built upon assumption .merely, as well as on serene disregard for the fact that the conditions in the United. States differ entirely from those in New Zealand. Upon what many of his hearers would no doubt regard as the most important theme in his address the Leader of the Opposition touched on. lines made familiar in enunciations of his party's policy. Labour stands, he explained, for the complete- control of ,the country's monetary system. By systematic national control of credit and currency, guaranteed prices for produce, and the payment of wages and salaries sufficient to enable all citizens to purchase their contributions to national production, an internal price level would be established and maintained. Thus would be solved the great problem of increasing the purchasing power of the great mass of the people. It sounds delightfully simple: also delightfully nebulous. Into detail on the subject Mr Savage did not closely enter: he had much ground to cover, and after all it is well, perhaps, to leave a good deal to the imagination when it is a question of convincing those who are ready to be convinced that miracles can be accomplished by manipulating the currency and guaranteeing prices. As for the question; of unemployment the Labour.plan is of equal clarity—the immediate employment of all workers at work of firstclass importance must be taken in hand if the country is to be- saved from bankruptcy. Other countries that have found the unemployment problem somewhat baffling, have presumably never thought of this forthright remedy. As for the financial aspects of this panacea why embarrass the picture with such refinings? ; Labour likes to paint with a broad brush.