COMMUNITY IMMIGRATION.

Press, Volume LXVI, Issue 20093, 24 November 1930, Page 17

COMMUNITY IMMIGRATION.

TO THE EDITOR OP THB SBBSS Sir, —Tho fact that all our export prices are down demonstrates that the demand for our goods has dropped. If we ad<i to our production greatly, we will help to aggravate that drop. Granted that monetary policy has been the main factor in a set of complicated problems which has led up to the lessened demand. Yet we in New Zealand cannot interfere to any extent. But there is a department in which wo could play a big part in helping to blow off the fogs of pessimism. Make an offer to the United Kingdom to absorb one million of her youth in ten .years.

This liia.v startle some and the wise may i»ivo their sicklv grin; but it is possible. It is possible when such immigration is handled according to a plan. Such immigrants must be formed into a State within this Dominion, and the finance ar.d general arrangements would be so different from our own, that I will give ii very sketchy outline of what would be necessary to give an ordered life with security and opportunity to live up to the best standards of civilisation. The first truth to learn is this: That there never has been, is not, and never will be, any money in the world worth speaking about. Trade is conducted bv banking barter, and when that barter goes awry we get. all tho joys of a slump, with preaching at a premium. So the first thinp; to do, if we wish to give pportunity to the youth of Great Britain is to form a bank which can manage this movement. if wo study the investment bauks of Germany, which have built up her big industries, I believe we have the framework for an institution which could give life to, and control, this immigrant State.

This bank finds the greater part of the capital for an industry, only lends to, say, one boot factory, butcher, or baker; but it is always represented on the directorate of the constituent companies. It thus forms a big interlocking directorate. Thus, if it found that a number of its members wero paying too much for cement, for instance, it would offer to find threequarters the capital for a cement concern that would give better service. ll'it this bank would ha\-e to go further than tlus German one. It would need the Truck Act in force over its domain, so that these youth could get bigger wsiges than standard wages. Production would be more costly—it may not be so—but economy could be made in two directions, transport and retailing. This million could f>e settled in Canterbury. But only one .public delivery service aim one shop is necessary for that number of people. Take transport alont. The Transport Department Report gives £32,000,000 for motors and £8,000.000 for railways as the cost of transport in New Zealand, so tlint would give £27,000,000 for a million people. The economy in the commercial side alone should run into many millions, while on the private car fnrthor »vv>nnmi<>.s (viiiM he made by honest finance. Though I would give higher wages to these voung folk, for their own good and for: tne finance necessary to run the community, I should take a forced loan, free of interest: say an average of £IOO per year for five years. When a couple have £IOOO saved between them they should be

allowed to rnarrv; but they would have to pny for their home in cash; no mortgage being allowed. Motorcars could follow niter their homes are free. In the meantime, the bank would have free capital for industry, so that though wages would bo higher, capital would ho cheaper, and competition would bo under control. This idea could only be carried out in co-opor.ition with tho Churches. To begin with, • shortage of funds at the stmt of the venture would necessitate that immigration barracks on 11 large scale should be provided for young men and women The moral tone and working ideals for such a venture would tax the skill of those in control. But sport, the amenities, and arts should take a big place, making their lives active and full of interest. After all, the base of tho idea is simple: Work and save, so that freedom from outside capital in the Dominion is won. New Zealand at the present time is famous for her debt and motor-cars. A little less of both wouldn't he a bad thing. Work. good banking, nnd a vigorous ideal make the absorption of this million of youths possible in Canterbury alone.— Yours, etc., L. C. WALKER. Hornby, November 2,3 rd, 1930.