NO NEED FOR PESSIMISM.

Timaru Herald, Volume CXXV, Issue 18520, 18 March 1930, Page 13

NO NEED FOR PESSIMISM.

DOMINION’S GREAT PRODUCTION. At the weekly luncheon of the Timaru Rotary Club yesterday, the president (Rotarian P. B. Foote) was in the chair. Rotarian G. S. Cray was the speaker of the day, and sounded a note of optimism in regard to the Dominion’s economic position. He said that although it was not generally known the production of the Dominion had increased enormously during the past three years. Increased production was the basis of future greatness, and in this connection Mr Cray mentioned that he had written to the Rt. Hon. J. G. Coates, when the latter was Prime Minister, suggesting that, with a view to increasing production, the Government should allocate a national subsidy to enable fertilisers to be more widely used than was the case at present. The Prime Minister, however, had not acted on the suggestion. Probably, being a farmer himself, he had thought that it might cause the townspeople to vote against him. Recently, the speaker had obtained figures from the Government Statistician which showed that, in spite of the pessimism that was being evinced on all sides, the Dominion in the past three years had increased its production enormously.

“There is nothing wrong with this colony,” said Rotarian Cray, “even the fall in the price of wool has to be regarded as one of the features of a general average. The country has never been so prosperous as has been the case during the past three years.” During this period the total imports were valued at £46.000,000, whereas the exports represented of sum of £53,000,000, so really there was nothing to justify the wave of pessimism which was sweeping over the Dominion. Referring to butter-fat production, Rotarian Cray said that for the seven months ended in February last, an increase was shown of 8.68 per cent., when compared with that for the corresponding period last year. The figures showed that the salted butter graded in February were 11,050 tons, and the unsalted 180 tons, a total of 11,230 tons, compared with 8363 salted and 335 tons unsalted, a total of 8698 tons for February, 1929, an increase of 29.11 per cent. For the seven months ended February, the respective quantities were, 72,369 tons and 1186 tons, a total of 73,553 tons, compared with 62,849 tons and 1684 tons, a total of 64.533 tons for the corresponding period of the preceding season, an increase of 13.98 per cent. The cheese graded in February consisted of 7365 tons of white and 3248 tons of coloured, a total of 10,613 tons, compared with 7007 tons of white and 3208 tons coloured, or a total of 10,215 tons in February, 1929, an increase of 3.89 per cent. The quantities for the seven months ended February were 40,101 tons of white and 21,104 tons of coloured, a total of 61,205 tons, compared with 43,170 tons of white and 19,760 tons of N coloured, a total of 62,930 tons for the corresponding period of the preceding season, a decrease of 2.74 per cent. Converting these figures into butter-fat equivalent there was an increase of 8.68 per cent, in butter-fat production for the seven months, as compared with the corresponding period of the preceding season. The speaker then quoted statistical comparisons from a table for the three years ended December 31, 1929. He said that although production had increased throughout the Dominion, South Canterbury had not progressed to any extent, the increases mostly being recorded in North Island districts. On the whole, however, the Dominion was in a very sound position, and the speaker urged the people to be optimistic. Nothing could be accomplished by pulling a long face and talking about waves of depression (Applause).

On the motion of Rotarian O. Hutchisoii, a hearty vote of thanks was passed to Mr Cray.