A BRIGHT FUTURE

Poverty Bay Herald, Volume LV, Issue 17146, 31 December 1929, Page 7

A BRIGHT FUTURE

DOMINION'S PROSPECTS NEED FOR ECONOMY (Special to tho Herald.) CHRISTOHOROH, this day. "Although it appears inevitable that the volume of our exports during the coming year must be considerably reduced, there appears to be no reason for pessimism," so sari Mr. Morton Francis, president of the Canterbury Chamber of Commerce, when asked by a reporter to-day his opinion as to the Dominion's financial prospects lor the coming year. "The big increase in the number of ewes and iambs each year since the war helps to make for lower prices for wool ami lamb, and ths continual increase in tiie quantity oil butter fat annually produced swells the total value of our exports, despite the fact that prices a pound are a iittio lower," said Mr. jjrancis. "The chief difficulty experienced by both Die country and town dwellers is the high cost of living, which does not show the tendency to decrease as appears likely to be the case with the prices to be received for our wool, meat, and dairy produce. There would be no fear that the standard of living in New Zealand would be lowered through bad times so long as people realised that everyone must work hard in these difficult times.

"The Dominion is exceptionally favored compared with most countries it has* to compete against in the production of its exports/' he continued, "and it the Government, various local bodies, and the people will only practice a small measure of economy to meet existing and probable future reductions in income there appears to be no reason why New Zealand should not continue to be the most prosperous of all countries as regards its standard o? living, which everyone is anxious to retain. Confidence in ourselves and our country, combined with reasonable economy in expenditure, must result in continued success for the community." Mr. I.' Woolf, president of the Canterbury Manufacturers" Association, was optimistic as to the prospects for manufacturers. "So far as manufacturers are concerned 1930 should be a very good year," said Mr. Woolfe. "The unsettled' financial position should cause people to lean more on New Zealand manufactures rather than imported goods. People will realise that if they buy New Zealand-made goods they will be'making more work for people in this country, and helping to keep the balance of trade on lh« right side lhe hopes tor the future are bright, by reason of the country waking up to the fact that secondary industries will play a big part in the development and wellbeing of the country."