Poverty Bay Herald PUBLISHED EVERY EVENING GISBORNE, MONDAY, NOV. 4, 1929. EMPIRE DEVELOPMENT

Poverty Bay Herald, Volume LV, Issue 17099, 4 November 1929, Page 6

Poverty Bay Herald PUBLISHED EVERY EVENING GISBORNE, MONDAY, NOV. 4, 1929. EMPIRE DEVELOPMENT

lii every pari oi! the Empire to-day public opinion' is focussing upon Ihe problem of development of the Empire's resources, for it is realised thai if these could be brought into full fruition existing economic difficulties would be swept away. In New Zen land the palliative of a spurt in tublie works construction, has temporarily relieved the unemployment situation, but it must be recognised that unless something practical can be done in the next few years to greatly extend our productive industries this problem of unemployment will recur, probably in aggravated form, when those works are completed. Development of industries in this Dominion may be possible solely through .New Zealand enterprise and capital, and .the search for markets, but there can be no question thai il would be greatly facilitated by the adoption of a scheme of systematic development of the British. Empire. In every other part of thel Empire the same need is felt for concerted and co-operative action, and ihoieforc then 1 has evolved a plan, which will doubtless be discussed at the Imperial Economic Conference to be held early next: year, for the formation of a Federal Council of Empire, or Empire Development Hoard, with representatives of all political parlies from all parts of the Empire, and with a permanent organisation and personnel in each country. In a pamphlet outlining this scheme, Sir Robert HadHeld, its propounder, who is one of the foremost leaders of industry in Britain, stresses the fact that no time could be more opportune than the present for launching a project which he considers would afford a ready and certain means of banishing unemployment, and trade depression from every part of the Empire, lie believes that in the held of Empire relationships we must; either coalesce or disintegrate, and his plan has as its larger object the consolidation of the British Commonwealth of Nations. The dominions and colonies need not merely, or even chiefly, manual labor, but capital and organisation as well. whereas Britain lias plenty of capital resources and ample manufacturing capacity for which it is difficult to find sufficient profitable employment. The Empire has plenty of capital, brains, and labor for the development of its vast resources. The application of this capital, brains, and labor where they are. required should be the work of an Empire Development Hoard acting regardless of party politics and selfish interests. Sir Robert 11 ad field suggests that the sessions of the board need not be continuous, but should be more frequent than the meetings of the Imperial Conference, and should be held in Great Britain and the dominions and principal colonies in rotation. The best brains of the Empire should be employed, and the permanent stall' should represent highly-paid officials, the period of service not to be rigidly specified. The board should devote special attention to the-work of expansion and assisting the opening up of a new means of transport—railways, tramways, roads, harbors, docks, dams, canals, construction of hydroelectric power plants, the foundation of new industries, the opening out of new districts for farming, the control of forestry, etc. Appropriations would bo set aside for the execution of developmental projects formulated or approved by the Empire Development Board, and when a scheme of development had been completed the under- ;• lilting would be handed over, along with the capital obligations, to the appropriate authority or company, whiclr would subsequently control or operate it. Turning to countries ontwide the Empire, Sir Robert Had field cites the Gentian Government, which, poor as it tries to prove itself, has shown unexampled generosity in lending money to industrial concerns and the payment of commitments. The best example of all is the United States' tremendous industrial activity, In the meantime it is

obvious that if we do not develop our own Empire more energetically, America will seize the opportunity of doing it herself. She is looking for an outlet for her hoards of capital, and her manufacturer:) are encouraged to go abroad and establish industries and other works of development which will increase the sphere and influence of the dollar. British interests are alive to the situation and all that is required is a wave of practical statesmanship to bring together the component parts of the Empire in a great co-operative movement having for its object the fullest possible development of Empire resources. CONTROL OF OFFERINGS Australia is presenting an object lesson to our woolgrowers which should not lie lost sight of. 11l the Commonwealth the position in regard In wool auctions is slightly different from that it is in this Dominion, where, as (Jisbornc has experienced to its sorrow, the wool buyers have assumed an almost dictatorial attitude, and everything is submitted to their convenience. Jll Australia the quota of auctions ami extent of the offerings are controlled by the brokers in eonjunction with the Graziers' Council or some cognate body icpresentative of the grower.; of wool. The dates are fixed and catalogues uiranged by the vendors, ana the representatives of the wool buying firms make their arrangements accordingly. When the new season's sales opened last month with a decided slump in prices, those in control of the auctions saw that it would •simply be playing into the hands of the 'wool speculators to continue to present the catalogues as arranged, and a 20 per cent, curtailment was decided upon.. This restriction of the output at the sales had the immediate effect of steadying the market ami has brought a gradual return to satisfactory prices, as high as 24Jd having been realised last week for greasy merino wool. Each day there have been splendid clearances and practically till the wool on offer has been sold. Buyers have begun ,to make strong representations that the offerings arc below requirements, but the growers and brokers, realising the advantage of a gradual feeding of the market, are adamant and insist that there shall be no extension of the catalogues, consequently the wool selling season will extend into June with limited offerings at each sale and the prospect throughout of an unsatisfied demand. That is how it should be. Too long the rush to place wool on the market, which occurs every season, has operated to the advantage of the speculative buyers and to the detriment of sound business. In New Zealand the buyers have resisted every effort to extend the period of the sales even for a fortnight, in order to allow a great wool district such as Gisborne to have auctions of its own, their policy being to get the wool crowded into the market, in as short a time as possible, but. Australian experience proves that such a course is not in the lies! interests of the growers, and that when the growers put their foot down and determine the conditions and duration of sales, the seekers after wool simply have to conform to their wishes. Hitherto the producers of the Dominion have been too indifferent about this matter, or too eager to get their clips on the market. Brokers at the main centres where wool is offered prefer concentration rather than multiplication of sales, and are somewhat too prone to consider the convenience of the young gentlemen from abroad who are making a scurry through the Dominion. The Australian object lesson, however, will give growers and brokers occasion to consider whether an extension of the sales and a limitation of offerings would not be a move greatly in the interest of the leading primary industry of the Dominion.