PAST YEAR REVIEWED

Poverty Bay Herald, Volume LV, Issue 17146, 31 December 1929, Page 9

PAST YEAR REVIEWED

DOMINION'S POSITION PRIME MINISTER'S MESSAGE NO GROUND FOIR PJOSSBIISM " (Per Pross Association.) WELINGTON, last night, Tlio Prime Minister, tjir Joseph Ward, has issued the following Now Year message : "Another year is just closing and I avail myself of the privilege of extending to my fellow-citizens my cordial good wishes, to one and all, lor a happy and prosperous New Year. May I say how vory deeply I have appreciated the kindJy sentiments which have been extended to mo in the indisposition which has unfortunately overtaken me during the last two months. 1 am deeply sensible of the generous consideration and sympathy which has been shown to me by all sections of the community and I rejoice in the hope that, in the near future, I shall be able to take my accustomed place actively amongst you. "I think wo may look back upon the year now closing as having been a successful on j from many points of view. The Dominion has proceeded on its march of progress, especially towards that restoration of. prosperity and employment which is so essential to tho well-being of- our people. Our national trade figures disclose a healthy position, although there has been a decrease in the \alncof exports owing to n decline in prices in the external markets. * Our banking returns give no cause for any undue anxiety, on the contrary they show healthy monetary conditions and ample funds for the financing of our primary produce. "The Government, has, since it came into office, been called upon to handle finance, questions on an extensive basis, both in regard to our overseas debt maturing, and in finding money to carry on and promote those undertakings necessary for the country's progress, such as S{a< e advances, land settlement and public works development. It. must be a matter for congratulation that these largo financial transactions have been successfully carried out, especially as the Stat? Advances Department has thus Iwen enabled to take its proper part in meeting the requirements of settlers and home-builders. It also is a source of satisfaction that monev required for this latter purpose has been raised locally. The completion of the largest overseas debt transaction of the Dominion, in November last., was a noteworthy event in the country *

financial history and its successful operation was favorably commented upon by the authorities in London as an indication of the high credit of tho Dominion and of our sound finance on progressive lines. "Just a word concerning our manufacturing industries. It can be said that, during the year, these have enjoyed a greater degree of industrial activity than they had experienced for some time and it is the intention of tho Government, in the coming year, to devote close attenion to their interests and welfare. Business conditions should also show the improvement which has been manifest in our trade and commerce, "While tho prices of our primary products, particularly wool, have, unfortunately, experienced a decline, it is to bo hoped that, with the. exercise of care and the maintaining of the high qualify winch has characterised New Zealand's produce in the past, combined with improved marketing facilities, the returns from oiiir staple exports may soon recover. "While there is no ground for pessimism in regard to the future, yet. it may not be out oii place for mo to sound a note of caution against uneconomical expenditure. Industry and thrift arc just as essential to-day as they have been in tho past, I have a high sense of pride in the achievements of our country and 1 am certain that the future holds for New Zealand still greater de. velopment, both commercially and industrially. The energy and virility inherent in our population will always stand to the Dominion and, with prudent administration, wo need have no misgiving regarding its progress in years to come. I sinceiely trust 1930 may bring to all our citizens a full measure of prosperity."