LABOUR’S PLATFORM

Taranaki Daily News, 16 October 1934, Page 5

LABOUR’S PLATFORM

POLICY OF THE PARTY OUTLINED. ADDRESS GIVEN BY MR. J. THORN. An outline of the measures advocated by the New Zealand Labour Party was given by the national secretary, Mr. J. Thom, at a meeting in the Workers Social Hall, New Plymouth. Mr. S. Flood, president of the New Plymouth Labour representation committee, presided. The first consideration in the drafting of the Labour policy, said Mr. Thorn, was the fact that in its natural resources and labour New Zealand possessed all that was needed to give a good life to all its people. Yet despite this over 60,000 adult men with their wives and families were directly involved in unemployment and poverty. The immediate reason for this poverty amidst plenty was the principle animating the whole of the Dominion’s policy, that New Zealand’s standard of living could only be determined by what was called London parity. The Labour Party was convinced that the only way to overcome the problems arising out of this condition was by a financial and economic reconstruction based on a planned use of New Zealand’s resources, the fixation of internal price levels and the organisation of the external trade by negotiated agreements. It aimed at a planned economy principally through a national control of banking, credit and currency and this control would be administered so as to guarantee the farmers fixed prices for their produce. Credit and currency would not be based on gold but would be related to the goods the people created by their labour and the useful social services they performed. Mr. Thorn drew attention to the statement of principles in the party’s policy statement relative to the purpose of production, the basis of credit, unemployment and guaranteed prices. He also read from the party’s official declarations a number of practicable measures and supported them by a brief explanation. Mr. Thorn contended that guaranteed prices were equitable and practicable and the only means of ensuring a fair income to the farmers for their useful labour. The Labour Party proposed that the fixation of prices should correspond with, tjie

average level of prices during a sevenyear period, covering good as well as bad prices, and all mortgages should be readjusted to this price level. This would stabilise land values, save equity and enable the farmers to meet their commitments. The Labour Party would also legislate to prevent foreclosures pending the fixation of a price and wage level that would permit mortgagors to pay their liabilities. Planned industry and trade were also necessary. Definite agreements made it possible to determine the volume of production required, Mr. Thorn asserted, and this volume could be consciously planned. This would obviate the haphazard production of goods that could not be sold in the market at other than ruinous prices. Guaranteed prices would also give the Government control over London exchange and the exchange could be confined to the purchase of commodities which could -not be economically produced in New Zealand.