INDUSTRIAL EXPANSION

Wanganui Chronicle, Volume 83, Issue 289, 7 December 1939, Page 8

INDUSTRIAL EXPANSION

N.Z. MANUFACTURERS END OF FINANCIAL STRINGENCY IN SIGHT MINISTER’S CLAIM [ Per Press Association.] WELLINGTON, Dec. 6. Appreciation ol the co-operation of manufacturers in assisting the Government to promote industrial expansion and build up a more balanced economy was expressed by the Minister of Industries and Commerce, Hon. D. G. Sullivan, opening the annual conference of New Zealand Manufacturers’ Federation. In making an appeal lor continued co-operation the Minister asked them to regard the present difficulties as transitory. He was confident the future would see New Zealand go on to a greater development of manufacturing industries. The Government had taken steps to stabilise the manufacturing industries on a more equitable basis than they previously had and to give them that access to the New Zealand market that could only be had in the face of feverish and intensive competition from overseas in bygone years. The most effective method of first increasing the national income was to manufacture as much as possible ot the raw materials of the farm, forests, mines, and fisheries. New Zealand was dependent on exports for income to import and must necessarily take all steps deemed possible to protect itself against the vulnerability of international fluctuations in prices of butter, meat and wool. Unless there was a considerable improvement in the standard of living in the United Kingdom the chances of New Zealand expanding the market to an unlimited extent were anything but rosy so the Government decided that manufacturing in New Zealand should be developed. Withstanding Recessions. The national structure must be built to as far as possible withstand recessions in overseas markets and natural resources must be fully utilised. The Government has given as much of the available sterling as possible to the demand for raw materials and machinery and that full supplies had not been allowed was a factor that had been governed only by the amount available. He assured them that the Government had their interests at heart and desired to see ordered development of manufacturing in this country. Many huge resources were undeveloped. New Zealand must move forward in the world’s industrial march. Mr. Sullivan went on L - say New Zealand had to superimpose a wartime effort on the peace time advance. “We have an assured market for our primary products and the end of financial stringency that has necessitated the restriction of imports is in sight,” he said. It would appear, however, that some measure of control would always be necessary. The common desire should be to incorporate in national life all the forces destined to mobilise public wealth and make it serve the nation within the limits of possibilities.