LITTLE DEPRESSION.

Star (Christchurch), Issue 17179, 24 October 1923, Page 1

LITTLE DEPRESSION.

POSITION IN NEW ZEALANDMR MASSEY IN LONDON. By Telegraph— Preas Association—Copyright ' Australian and N.Z. Gable Association. (Received October 24, 8.45 n.m.) LONDON, October 23. Sir James Allen presided at the Australian and New Zealand Club’s luncheon to Mr Massey at the. Hotel Cecil. Mr Massey, in replying to the toast of liis health, indicated that the reductions in taxation made last session in New Zealand afforded proof that the country was in a. good financial position. He believed that the outlook was satisfactory. Mr Massey expressed regret at. finding that so serious a depression existed in the Motherland, which, if it lasted, would undoubtedly affect the producing countries overseas. He believed that if it were possible to reduce taxation in Britain that, would do more than anything else to bring the country back to prosperity. But, with its tremendous liabilities, he was afraid that no considerable reduction could be expected. The New Zealand requirements in the way of materials for public works during the next two years would amount t,o‘ £4.000,000. which proved that there was little depression in the Dominion, said Mr Massey. They were developing the country for increased population. Perhaps no industry in Britain felt the depression more than agriculture.

continued Mr Massey. Tt had felt the competition of South American meat production. New Zealand, too, had felt this competition acutely in the last few years. “ The plain fact is,” Mr Massey declared, “ unless something is done to remedy the "resent difficulty New Zealand will have to go out of beef production.” .“What is going on in connection with foreign competition raises the question of migration,” continued the speaker. “We could always do with hard working industrious migrants. Anyone with such qualities is bound to succeed there. There is always plenty of employment for men and boys in the dairying industry. The agricultural class is one which laid the foundations of overseas dominions and such people are now more than ever necessary for the development of these countries. “As citizens of the same Empire we have got to make up our minds that we must assist each other far more than we have done in the past. If we carry out this principle, we shall not he troubled with serious or lengthy depression.” said Mr Massey. He predicted that the recent reciprocal Customs agreement between Australia and New Zealand would do a tremendous amount of good and would bring these countries closer together. He thought that the time at the disposal of the Imperial Conference would not permit all the business that should be attended to, being dealt with, but ho was hopeful that good results would emerge. Personally, he favoured the Conference meeting e.very two years and thought that it should be given a definite status. He wns sure that satisfactory results would follow the Economic Conference, especially as regards communicationsIt had to be remembered, continued Mr Massey, that a first-class Empire required first-class defence and “we must accept willingly and cheerfully the responsibilities which devolve upon us as British citizens.'’ Mr Massey Raid that he did not expect- any change in the constitutional position. Personally, he would like to go further with the idea, of shipWhen occasion requires,” he said. “ the Empire should speak with one voice with no uncertain sound.” There were two schools of thought. One comprised those who looked with equanimity to a possible disintegration of the Empire; the other included those who were in the majority and desired to strengthen its unity. He scarcely need ed to Ray that New Zealand stood with the latter.