ECONOMIC. CONDITIONS.

Waikato Times, Volume 109, Issue 18342, 30 May 1931, Page 9

ECONOMIC. CONDITIONS.

(To the Editor.) Sir, —In your issue of to-day the super-optimistic words attributed to me 'by your worthy reporter at the dairy factory managers’ social last night regarding the economic situation, namely:—“lie felt sure that this time next year conditions would be back to normal," are such that I must disclaim responsibility for their authorship. It is regrettable that my remarks should have conveyed an impression which, to the average man, is obviously bereft of common ' sense and good judgment. Possibly the error may be accounted for in the condensation of ] reporting. With the prospect of a deficit of £5,500,000 in 'the State finances ai March 3:1, 1932, as indicated recently by the Prime Minister, and the possibility of further retrenchment, ;md the certainly of increased taxation within the present financial year, the position this lime next year under the most favourable circumstances obtaining overseas for the Dominions exportable farm produce will be Jar from, "back to normal.” The best we may hope for is i,iat this time next Year,” flic country may have emerged from the chastening fires of ndvcrsily, and set ils leet once again on Ihe ' highway to happiness and prosperity. —1 am., etc., .1. A. YOUNG. Hamilton, May 29, 1931.