NATIONAL FINANCE
-ECONOMY ESSENTIAL
PRIME MINISTER'S WARNING
Infesting references to public finnnco were made by'the Prime Minister (the Eight Honv W. F. Massey) at the annual [.'dinner of the New Zealand Dental Associatitm'last night. Mr. Massey said he. did'not wonder that there was today "a. -great clamour for public expenditure.. Development, improvement, and wanted in every direction? and'each of the claims, was in itself Rood. But New Zealand had only a certain amount of money to spend and that poiht'could not be emphasised too Btrongly'.- "•'•'■■
, "It will take us all our time to avoid a wave of depression," said the Prime Minister. "We do not want depression, and I believethat it can be avoided. But it can be avoided only by care, economy, and industry on the part of tho people of this country. We must curtail the extravagance that has been going on in town and country for a long time past. Money has been plentiful in New Zealand, more plentiful, norhaps, than in '" any other part of the Empire. The people of the Dominion concentrated during the war on doing everything they pos-sibly-'couldctoJ supply the heart of the Umpire with .the products it required for the use of its people and for the Army and the Navy. The consequence has been that money has poured into this country In a way we had never experienced . before. "But a change is coming over the scene. You will have seen from london that already, there has been a drop in prices. The commandeer of, our products is coming to an end, and we must ■not expect to receive for our principal products the prices tliat we have been ; receiving. ■ There is no question about that. • Some people will see consolation ■ in a reduction of the cost of living We all want to see,the cost of living rp. diioed. But remember that we are not •likely to.have the amount of money to spend that we have had during the Inst few years. That is why I wish to impress upon the nnblio of this country tne necessity of being careful."
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/DOM19200520.2.61
Bibliographic details
Ngā taipitopito pukapuka
Dominion, Volume 13, Issue 201, 20 May 1920, Page 6
Word count
Tapeke kupu
349NATIONAL FINANCE Dominion, Volume 13, Issue 201, 20 May 1920, Page 6
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in