THE CORNER TURNED.

Otago Witness, Issue 3828, 26 July 1927, Page 15

THE CORNER TURNED.

PERIOD OF DEPRESSION ENDED. ECONOMY AND INDUSTRY URGED. AUCKLAND, July 21. Though Sir lliomas Mackenzie preached the doctrine of economy when officially opening the Auckland Winter Show today, he definitely declared that New Zealand had “turned the corner’’ so far as the depression was concerned. The tenor of hi s address, which was delivered in the unavoidable absence of the Prime Minister and the. Minister of Industries and Commerce (Mr M’Leod), was distinctly optimistic.

lhere is no necessity for any talk of depression,” declared Sir Thomas. ‘‘l say without any hesitation that New Zealand has definitely turned the corner.” \\ 00l was on the increase. New Zealand exported 42,000 bales more last year than ai '.'’ P rev * ous time in her history. In addition, w e had an additional 1,500,000 ewes, making a total of 14,000,000. There was also a corresponding increase, he declared, in the productivity of lands

‘‘For some time rjast these figures have had a. distinct backward tendency,” said Sip Thomas, “so it is very cheering to s°e them forging ahead again.” There had also been an increase in our dairy output which was a material factor in the prosperity of New Zealand. “Auckland is concerned in this phase of our development, as this province has been resnonsible for no less than a third of the whole of the dairy output in the Dominion” there had been an increase of no fewer than factories in New Zealand, with a corresponding increase of 1322 employees. No less a sum than £1,175,000 was paid in salaries, while the total output had reached £84.750,000 or £50,000 more than in the previous year ‘‘W e have the pessimist abroad as well as in New Zealand.” declared Sir Thomas, who related that the Director-general of Agriculture in Australia had forwarded his Minister a memorandum to the effect that so serious was the outlook for mutton and lamb that the farmers might have to accept 10s in the near future for lamb. “I have no hesitation in saying that, in my opinion, there is no justification for any such statement. I do not see any country which can supply lamb in such quantities as to affect prices so seriously. On the contrary, I think that lamb will have a steady demand at something like the present prices.” Sir Thomas also pointed out that the consumption of meat in England, notwithstanding last year’s coal strike, was the greatest on record. No fewer than 2,055,000 ton s were consumed, or 50,000 tons more than in the previous year.

We, on our part here, he continued, must practice the strictest economy and industry The Customs record showed, he said, that New Zealanders had diminished the importation of motor cars by nearly "100,000, but the serious fact remained that the importation of cars had increased i loni £1.000,000 before the war to nearly £5.000,000 last year, “a sum sufficient,” he said, “to pay the' interest on the national debt of £100,000.000. It is quite impossible for a community such as on is to continue such an outpouring of capita! for what is so largely a luxury.”