DOMINION INDUSTRIES.

Taranaki Daily News, 17 December 1924, Page 7

DOMINION INDUSTRIES.

THE BALANCE OF TRADE. WHAT SHOULD BE IMPORTED. BRITISH MADE PREFERENCE. Speaking at the annual meeting of the Canterbury Industrial Association, Mr. J. W. Collins, Under-Secretary of the Department of Industries and Commerce,., said, he thought -the retiring president’s suggestion to interest housewives in the purchase of New Zealandmade goods was a unique • and useful one. The manufacturers could make special efforts to entourage housewives to buy Dominion goods, and he thought the association would find the result of such a propaganda remarkable. He mentioned a branch of an Australian trade which had been started in Wellington, the making of stockings from- silk and cotton. The industry had been started in Australia with a staff of 30 hands, and to-day it had 2000 employees. The’ manufacturers Wjere confident that if they got the support* of the New Zealand people they would eventually have a staff of 500 persons employed in the Dominion. The possibility of secondary industries being affected by the improved condition of the market for primary; products was touched upon by Mr. H. R. Best, the retiring president. Ab industrialists they must necessarily share in the general prosperity of the country, he said, but there was a certain danger ahead and it was well that they should not overlook it. The large exports must be balanced by) imports, and it was just there that the difficulty lay. With the excess of of exports and a certain amount of loan money there would be a credit balance in London running into some £15,000,009. This mu§t be settled by imports-, r and they recognised that stern fact. There were those who accused the association of being against all imports fanatically and without reason, but those people had judged the association wrongly. The association desired as far as possible to discourage the importation uf goods that could be made satisfactorily in New Zealand. They recognised that for many years at any rate they must \import certain goods. A suggestion had 'been made that, between Britain and New Zealand the specie point had been reached and gold should be shipped to New Zealand, bub that did not seem possible in view -of the indebtedness ot Great Britain to America. Without doubt large quantities of goods from Europe would find their way into this country and manufacturers would find competition keen and almost unsurpassable. It behoved them to be more vigilant than ever to bring about improved means qf r manufacture and to give greater attention to. find many manufacturers 9 pathetic to improved . methods and cheaper cost by eliminating waste. There were capable workers in New Zealand and some excellent factories and plant, but he thought a greater attempt should (be made for mass production. Greater care, in his judgment, was also necessary in costing the goods produced, for without trim ’cost correct selling prices could not ba determined.

Reverting to the exchange question, Mr. Best put in a plea fur imports to be of British manuiacture. Quite a lot of new machinery and development work was necessary in New Zealand, and both in private purchases and in Government contracts Britain should Da preferred. Were some of the lar« credit balance in London utilised for the purchase of the machinery aud material necessary to develop thn natural resources of New Zealand, tho exchange position would be eased and tlio future of the Dominion enhanced. Every ship was bringing immigrants and opportunities for the newcomers was required. ••