DOMINION PROSPECTS.

Poverty Bay Herald, Volume L, Issue 16370, 1 March 1924, Page 7

DOMINION PROSPECTS.

NEED FOR CAUTION

(Per Press Association.) INVERCARGILL, last night

Hefei ring to Mr. Massey’s recent views on the financial situation in New’ Zealand. Sir Harold .Beauchamp told a Southland Times reporter that the Premier was perfectly right in what he said. The great built of New Zealanders were not aware of the extent of the Government’s obligation.' Between 1924 and .1930 the Dominion would have to find £32,000,000 in renewals • and also more money for public works. Therefore it was only natural that there should be a hardening tendency in the money market. New- Zealanders were obtaining excellent prices for primary products, which enabled us to keep the Dominion on an even keel. There was no room for extravagance, and all should endeavor to reduce their liabilities during the. prosperous times. Extravagance was already reflected in imports, especially motor cars, which was the heaviest item, amounting to over £3,0C0.0Q0. Referring to the Hon. Downic Stewart’s statement that the exports in January last were greater than for the same month in the previous year, he said ; t was largely due to the greatly en l anced values of w >ol. which was e-sti mated to realise £2. r CO,OOO more this season than last. The dairy exports were also worth £18.000,000. If the peoole would pay attention to the warning of Mr. Massey there was no real danger as far as New Zealand was concerned, but lie joined with the Premier in emphasising the necessity for the people of New Zealand to put their financial bouses in order. The Soulhinnders might be congratulated on the farming outlook, due to the fact that I hey bad not suffered so greatly from the blighting effect of the drought cxuerionecd in the north of the South Is land cilicit most of the North-Island.