OPUNAKE TIMES Speaks for the District. FRIDAY, AUGUST 19, 1932. RETURNING CONFIDENCE

Opunake Times, 19 August 1932, Page 2

OPUNAKE TIMES Speaks for the District. FRIDAY, AUGUST 19, 1932. RETURNING CONFIDENCE

. *» There is undoubtedly a more optimistic spirit abroad. Those who havfe on the pulse of business declare that the bottom of the depression has been reached, and that from now we may confidently anticipate a gradual improvement in trade and industry. This is gratifying —the more so because the views expressed are not those of any one section, or, indeed, of anv one country. The messages from Britain, Australia, and other lands strike the same note. Confidence is returning; the depression is passing. At Christchurch last week, Lord Bledisloe, Gov-ernor-General voiced sentiments which could well be heeded by all and carried into practice. By so doing much could be accomplished in ushering in a brighter era. The experience through which the country has passed has had a chastening effect upon the people as a whole, from which they will no doubt profit. The fact, however, remains that the depression is largely psychological, and it is probable it has been more than necessarily severe because little or no discrimination has been shown by large numbers of the people between legitimate and extravagant expenditure. ' The latter cannot be defended at any time on any ground and # neither can the curtailment of e'ssential enterprise because of mere timidity. As Lord Bledisloe emphasised, "a sane and farsighted policy in our domestic .affairs aids materially in the solution ofproblems of wider scope," and that what is done in the homes of the people and in the council chambers is reflected in international conventions and conferences. These are facts that cannot be gainsaid. As has frequently pointed out. in our columns, there is no lack of money. Large sums are lodged in fixed deposits in the banks and. financial institutions, which could, and should, be employed in developmental and industrial channels. The Government is raising and spending large sums of money for unemployment relief. That cash is raised from the people by levy. Under the conditions obtaining there is probably no alternative but it will not be capable of argument that that money could be expended by private enterprise to better advantage. It is for a recognition of this fact that the Governor-Gen-eral pleads. The tide has turned, and it is the duty of those who are in a position to do so to assist its flow. This they can do by showing enterprise and confidence, tempered, of course, with discretion. The time has come for those who permitted fear to tighten their purse strings to let hope loosen them, and to launch those schemes which, though long contemplated, have been held in abeyance until the dawn of better times. By so doing they will achieve a threefold object. They will (1) derive benefit themselves; (2) assist to expedite the dissipation of the economic cloud; and (3) by the decrease of unemployment contribute materially to the national well-being.