ONLY TEMPORARY.

Press, Volume LXVI, Issue 20085, 14 November 1930, Page 12

ONLY TEMPORARY.

DEPRESSION IN NEW ZEALAND. HON. J. B. COBBEPS OPINION. CPBBSS ASSOCIATION TJtIjRCiIIAU.I WELLINGTON, November 13. "I do not think tho depression will last long. I have seen bad tim.es before in New Zealand, and I have noticed that New Zealand seems to revive in a very short time. g have most energetic, enterprising people with plenty of initiative, and there is no nee'd for pessimism. Tho depression is only temporary, and I believe tho future will be richer than tho past," said tho Hon. J. G. Cobbe> Minister for Defence, to the Wellington Manufacturers' Association 1 to-night. The Minister was present in place of the Hon. P. A. de la Perrelle, Minister for Industries and Commerce, at the annual dinner of the Association. Manufacturers, said Mr Cobbe, were now doing more publicity work, and were showing the people of New Zealand that there was no need to go to America, Germany, or anywhere else for the goods that New Zealand made. One of the ways to relieve unemployment was by assisting their . own industries and so providing employment. While farming was the chief industry, they could not all be farmers, and all did not want to be farmers. Mr Cobbe quoted figures of factory production for 1929, showing how greatly it had increased. Manufacturers had good reason to be proud of such a fine record. Business in New Zealand was not so good just now as they would like it to be, and prices of primary produce were low, but he was sure the depression would not last very long.