CURING THE SLUMP

Waipa Post, Volume 44, Issue 3190, 14 June 1932, Page 6

CURING THE SLUMP

THE TRANSPORT FACTOR. Philosophers have remarked that students of problems tend to overlook obvious cases and thM, the bigger the problems afe r the more likely is an obvious factor to be missed. Consider the present slump. What a welter of debate about the causes and the cures! That old Roman proverb, "So many men. so many opinions," does indeed apply to the present situation. The hills and valleys resound and reverberate with cries of "falls in prices," "currency muddle," "currency reform," "need of confidence/' "stabilisation," and so on. In the midst of this confusion of theories and clash of doctrines;, many eyes are turned on Ottawa in the hope that somehow the big chiefs will make •magic medicine there Jor the quaking and aching body politic. It is well to expect good cheer from the Imperial knights of the round table at Ottawa, but weanwhile New Zealanders can give heed to another old proverb, "God helps those who help themselves." They have it Within their own power here to deliver a staggering blow to "Old Man Slump," whose make-up includes the huge aggregate of land transport. Official figures show that the annual cost of land transport rose from £173 millions in IQI4 to £433 millions in 1929. In that year the share of the railways was only £9 millions, but the debit against motor traffic was £32 ntillions (including £4 millions for road maintenance). The awfulness of that stupendous aggregate will be still more impressively felt when it is remembered that in 1929 land transport took a toll of £36 from every £IOO worth of the Dominion's production (primary and secondary). With a continuation of such a gigantic "cut" from the national wealth, how could the country hope to regain an enduring prosperity? These figures are made still sadder by the fact that the railways have a large potential capacity for a much greater public service than they are now called upon to give. The lines and rolling stock could have extensive additional use with a comparatively small addition to the working expenses. With a greater demand for the available; railway facilities, the rates could be further -cut, and thus the people could help themselves onward from the slough of depression.