PRICE 'LEVEL FALL

Wanganui Chronicle, Volume 75, Issue 151, 29 June 1932, Page 10

PRICE 'LEVEL FALL

DEALING WITH THE CAUSE CONFERENCE AT OTTAWA. ADDRESS BY MR. COATES. I Per Press Association.! AUCKLAND, June 27. Speaking at a luncheon tendered to him by returned officers at the Officers’ Club, the Hon. J. G. Coates referred to the Ottawa Conference. The measures that had been taken in Nc\y Zealand to relieve the distress caused by the fall in price levels, he said, were rather like clos’ng the door after the horse had got out of the stable. His col leagues in the Government were agreed that, if possible, they ought, to begin at the other end by dealing with the cause. In saying that the spirit of bargaining should be avoided at the Conference he meant that there should be no aim to handle trade to the advantage of one country and at the expense of another. He was convinced that, such a policy would do no good to the Empire as a whole. The purpose should be to arrive at a plan which would help the people of the Empire and at the same time give a lead to the rest of the world. It was realised that Great Britain must necessarily depend largely upon world trade. Tn addition there was the British Empire, within which there was ample room for developing the exchange of raw products and manufactured goods. It might be that the Ottawa Conference would set in motion a process that would quickly solve the problems confronting the peoples of the Empire. “We see to-day the great efforts that the statesmen of Britain are making to remove the barriers to trade,” continued Mr. Coates. “I believe that Britain and her institutions are destined to play the next part in bringing about in a new world atmosphere the sense of peace, security and con lidence that is necessary if we are to bring back .he price levels and readjust conditions generally.”