PRODUCTION RECORDS.

Thames Star, Volume LXII, Issue 17320, 7 January 1928, Page 5

PRODUCTION RECORDS.

OUTLINED BY PREMIER.

INCREASED REVENUE

FROM MANY SOURCES.

'By Telegraph—Press Association.,, AUCKLAND, Jan. 7.

Mr Coates, in a speech at Ruawai, said he was sure posterity would not feel the weight of the present development in reagrd to unemployment. He ■said,never more than 4000 had registered as unemployed, although the total unemployed was probably 7000. It was wrong for them to expect to hang round the neck of the State and obtain relief. The country's credit was at high-water mark, and New Zealand was borrowing money . cheaper than other countries could, although that was not an excuse for excessive borrowing.

Borrowing Necessary

With increased production and increased population, a certain amount of borrowing was necessary to complete the Government's policy of railways, roads and electric power schemes. ■ >* .-•"

Good Investments. He was sure the hydro-electric schemes would be one of the best investments the Government had made. He looked forward to the Government having, in 1940, from £6,000,000 to £8,000,000 in cash, which could be used eiher to reduce the cost of power or to go into the Consolidated Fund. Record Revenue. For the eight months to the end ,of November,' the increased revenue from all services was £50,000, and the figures for the preceding corresponding period had been a record. The Customs revenue showed a slight drop, but there were reasons f° r that. Production Record. The production of wool was a record and there were over 26,000,000 sheep in New Zealand, the largest number since 1918. Butter and cheese prices were good. The wheat crop would be a record, and the fruit and honey markets were also good. Export Trade. Exports of primary products would be worth £5,000,000 more than last year. The banking figures, which showed an excess of advances over deposits in December, 1926, of £7,000,000, had shown a reduction in March, 1927, to £5,000,000, in June to £4,000,000, and in September to £2,500,000.