THREATS OF SLUMP

Waikato Times, Volume 122, Issue 20525, 15 June 1938, Page 7

THREATS OF SLUMP

. TALK DEPRECATED PRIME MINISTER'S CONFIDENCE BETTER ORDER INTRODUCED (By Telegraph. —Pres* Association) PALMERSTON N . Tuesday *' We have been hearing this year and last threats of a slump, mainly from interested persons who wish to scare the people into a sense of insecurity,'’ said tho Prime Minister, Mr Savace. in his address when opening the National Dairy show to-day. “ I would like to repeat now what I lia\e stated on previous occasions—that ♦ here is absolutely no necessity for any trade recession, unless business men prefer manufacturing slumps to manufacturing rather more useful articles. “ So long as there is an atmosphere of goodwill, reasonableness and give-and-take, there will be no slumps.*' Mr Savage continued, and when the nations of the world accept as a national responsibility the task cf directing the national economy on rational lines there will be no wild booms and slumps. Here in New Zealand during the past two years we have been putting the house in order with the very object of counteracting theae fluctuations that hitherto have disgraced the modern history of this and other so-called civilised nations. ** The problem is a many-sided one. Largely it is a problem of economic and monetary policy, but it is also a problem of orderly production and distribution. We have proceeded a long way toward laying the foundation of a better order, and. whatever events occur overseas, I am confident of the success of our actions. New Zealn i will stand any test.”