PLIGHT OF PRIMARY PRODUCERS TO-DAY

Star (Christchurch), Volume XLIV, Issue 78, 1 April 1931, Page 11

PLIGHT OF PRIMARY PRODUCERS TO-DAY

MR NORTON FRANCIS CITES THE FALL IN VALUES. “Everyone can lend a hand to hasten our return to prosperity by working a little harder, and by practising a little real economy.’’ This advice was given to members of the Junior Reform League by Mr Norton Francis in an address on “Reasons for Impaired Credit” last evening. Mr Francis dealt with his subject from the point of view of the financial position of the primary producer. “ Unless prices are shortly to return to those prevalent during the post-war boom —and I think few of us really believe that the various countries of the world can pay such prices and prosper—it is evidence that real economy must be practised by all,” continued Mr Francis. “ The farmer has already realised that the previous owner of his property and, in many cases, he himself in pre-war days, did more of the manual work, and was always working with his men. With the introduction of motor-cars, there was a tendency to visit town more frequently', to attend all stock sales within a wide radius, and to consider attendance at all agricultural and pastoral shows and frequently race meetings within a fifty-mile radius necessary, if only to meet neighbours and hear the latest farming news. lie now. for the most part, recognises that to make ends meet he must pay the closest attention to his work, carefully scrutinise his expenditure and look for as many extra sources of income from his farm as possible. Those who think otherwise will soon have to seek other occupations. All must Take a Hand. “ But this is not enough. The country as a whole must take a hand. In twenty years the public debt of New Zealand has increased from £75,000,000 to £261,000,000, of which some ' £71,000.000 is war debt. Local bodies have borrowed £55,000,000. At the end of last year, the pound sterling purchased only about two-fhirds of the goods it did in 1914. This is largely ; because the costs of labour in New Zealand are too high in the sheltered industries. If the country is to prosper with lower produce prices, it must buy its requirements at nearer pre-war levels. To-day Parliament is trying to solve this question, and to arrive at a fair basis of wage for all., The question is not easy. We must all economise for the common good. The difficulty is to do it with the least injustice to any section of the community. The farmer has earned nothing this year; many are bankrupt; the commercial community as a whole are not making profits; the so-called idle rich have seen the value of their securities depreciate and their incomes cut in many cases in half; the salaries

paid in most business concerns have been reduced 10 per cent; soon, it is hoped, all labour will make a similar contribution. ' “ Everyone can lend a hand to hasten our return to prosperity by working a little harder, practising a little real economy, saving a little money which, in turn, can. be lent to the farmer or the Government to increase production, and, finally by realising that, although New Zealand is the finest country in the world for all classes in the comimmity, it cannot afford to flout economic laws, and must live within its means.”