OUTLOOK FOR NEW YEAR.

Timaru Herald, Volume CXXXIII, Issue 18764, 31 December 1930, Page 8

OUTLOOK FOR NEW YEAR.

STATEMENT BY MR COATES. PLEA FOR THE PRODUCER. By Telegraph—Press DARGAVILLE, December 30 The following statement was made bv the Hon. J. G. Coates, Leader of the Opposition, at Dargaville this evening:— . “It is with every sincere thought for the future welfare of my fellowcitizens that I extend to them my best wishes for a happy New Year. The economic outlook for 1931 is not so healthy as we would wish it to be. New Zealand is, for her wealth and development, almost entirely dependent upon the volume of exports of primary produce and the price these products realise in the world’s markets. It should be remembered, too, when using the term ‘world markets’ that it is the Mother Country (Great Britain) that absorbs the great bulk of our exports. At the end of July last, values for the I sale of products overseas, by compariI son with the previous twelve months, i had decreased by approximately nine 1 million pounds sterling. Since that j date, a further serious fall for similar products has occurred, and it is by no i means exaggerating the position to estimate a further decline of eleven millions in money for the sale of products for the twelve months ending next July. If this is the position, and I believe it is, it must be obvious that there will be eleven million pounds less circulating this year among our people, as compared with last year, when, as at July, 1929, there was nine million pounds less than in the previous twelve months. The position must surely be that we as a community must live on a little less. It will mean sacrifice, and the experience will be new to many, but whatever the sacrifice let us be very certain that there is equality of sacrifice. The farmer has met the full shock of world deflation consequent on lower price levels for his exportable products today. He is fighting for his very existence. His earnings have slumped. 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, costs to the producer must be readjusted, all manner of costs, and this applies to all forms of production. When this is accomplished, and it will be, every incentive must be given to those engaged in our key industry to increase the volume of production. We should never lose sight of the fact that this country is blessed as no other country is blessed. It has climatic advantages and 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 con-

siderably affected, and everyone in the Dominion, commercial and financial, distributor and worker, is feeling the results of lower prices. I hope and I believe that all our citizens will realise the salient features of our present economic situation, and brace themselves to the task of re-adjustment 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 fellowcitizens 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 quality and price are right. But let 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. “I would like to say that I, and those associated with me in Parliament, will always endeavour to place the country’s welfare and interest above all other considerations. On their behalf I can say that each member’s thoughts and action are given for the public weal. We realise that the trials of the times call for thoughtful, wise, and considerate piloting, and it will be 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 facts, there will follow better times for all, and a gradual but definite absorbing of many of our fellow-citizens who to-day are sorely tried and worried on account of failure to find employment.”