SACRIFICES NEEDED

Poverty Bay Herald, Volume LV, Issue 17454, 31 December 1930, Page 7

SACRIFICES NEEDED

MR. COATES’ COMMENT LOWER NATIONAL INCOME ESSENTIALS OF READJUSTMENT ( Por Press Association.) DARGAVILLE, last night. The following statement was made by the Rt. Hon. J. G. Coates, Leader of the Opposition, at Dargaville, this evening:— “It is with every sincere thought for the future welfare of my fellow citizens that 1 extend to them my best wishes for a happy new year. The economic outlook for lDol is not so healthy as we would wish it to be. For her wealth and development New Zealand is almost entirely dependent upon the volume of exports of primary produce, and the price these products realise in the world’s markets. It should he remembered, too, when iising the term ‘world’s markets,’ that it, is the Mother Country, Great Britain, that absorbs the great bulk of our exports. “At the end of July last, the values for the sale of products overseas by comparison with the previous 32 months had decreased by approximately £0,000,000. Finco 'that date a further serious fall for similar products, hqs occurred, and it. is by no means exaggerating the position to estimate a further decline of £11,000,000 in money for the sale of products for the 12 months ending next July, [f this is the position, and I bclievo it is, it must, be obvious that there will be £11.000,000 less circulating this year among our people as compared with last year, when ns at July, 1020, there was £0,000,000 less than the previous 12 months. The position must surely be that we as a community must live on a little less. It. will mean a sacrifice, and the experience will be new to many, but whatever the sacrifice, let ns bo very certain that there is equality of sacrifice.

READJUSTMENT OF COSTS. “The farmer has met his full shock of the world deflation consequent on lower price levels for his exportable products. To-day he is fighting for his every existence. His earnings have slumped; he is facing reconstruction. The New Zealand farmer must, in order to survive, compete in the world's markets. He must survive and carry on if our country is to progress, but it is of paramount importance that he produce at a cost that will give him an equal opportunity with his competitors, many of whom are much nearer to Great Britain than we are. “Many of our farmers • are asking themselves the question, can it be done ! Well, it can be done, and it ’must be done. Perhaps other members of the community are hoping that something will turn up. Everyone hopes that prices will improve, and improve quickly, but there is little to support the hope; the tendency is rather the other way. “For this country to win out, the costs to the producer must be readjusted, all manner of costs, and this applies to all forms ot production. When this is accomplished, and it will be, every incentive must be given to those engaged irt our key industries to increase the volume of production. Wc 'should never lose sight of the fact that this country is blessed as no other country is blessed. It has climatic advantages and a productive capacity peculiar to itself, together with people possessing a will, character, and determination that have seen them through past trials, and these same essentials will stand to New Zealand again. Farmers’ earnings have declined seriously, the national earning power of the nation has been considerably affected, and everyone in the Dominion, commercial and financial, distributor and worker, is feeling the results of lower prices.

BETTER TIMES AHEAD “I hope and .believe that all our citizens will realise the salient features of our present economic situation, and brace themselves to the task of readjustment that lies ahead for all. We can all help, and if we do it will not be long before we put our country and its people in a most enviable position.

“Now it 'is due to our fellow citizens that we be loyal to our own. We should realise that there are many engaged in industries in our own country, and wherever possible it would be wise to use our locally made and produced goods, providing the quality and price are right, but •et us in 1931 resolve to give pride of choice to articles made by British men and women in British factories if the required goods are not available in New Zealand. “1 would like to say that I and those associated with me in Parliament will always endeavor to place tho country’s welfare and interest above all other considerations. On their behalf I can say that each member’s actions are given for the public weal. We realise that the trials of the times call for thoughtful, wise and considerate piloting, and it will he our duty to serve in the interests of the people. “Again I wish all a happy new year, firmly believing that if we tackle the problems of the new year sensibly and reasonably with a full realisation of the farts, there will follow better times for all, and a gradual but definite absorbing of the labor of many of our fellow citizens, who to day are sorely tried and worried on account of failure to find employment.”