CURING THE SLUMP

Wanganui Chronicle, Volume 75, Issue 140, 16 June 1932, Page 9

CURING THE SLUMP

THE TRANSPORT FACTOR. Uhilosophers have remarked that students of problems tend to overlook obvious causes aud that, the bigger tho problems are, 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. Tho hills and valleys resound and reverberate with cries of “falls in prices,” “currency muddle,” “currency reform,” “need of confidence, “stabilisation,” and so ou. In the midst of this confusion, of theories and clash of doctfines, many eyes are turned to Ottawa in the hope that somehow the big chiefs will make magic medicine there for the quaking and aching body politic. It is well to expect good cheer from the Imperial Knights of the round table at. Ottawa, but meanwhile New Zealanders can give heed to another old proverb: “God helps those who ho]p themselves.” They have it within their own power hero 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 £l7| millions in 1914 to £432 millions in 1929. In. that year tho share of the railways was only £9 millions, but the debit against motor-traffic was £32 millions (including £4 millions for roadmaintenance).

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 £lOO 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 tho fact that the railways have a large potential capacity for a much greater public service than they are now called upon to give- Tho 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 he further cut, and thus tho people could help themselves onward. from the slough of depression.