STABLE BUSINESS

Evening Post, Volume CX, Issue 71, 20 September 1930, Page 10

STABLE BUSINESS

AN URGENT NEED

THRIFT AND SACRIFICE

(By Telegraph.) (Special to "The Evening Post.")

PALMERSTON N., This Day

"In times of stress and depression it is comforting to be able to find some matters for congratulation and to ba able-to point, so far as this district at any rato is concerned, to some very hopeful and cheering signs," states Mr. M. 11. Oram (president), in his annual report to the Palmerston North Chamber of Commerce.

"In. general, and from a survey of other centres throughout New Zealand, it can confidently be asserted ' that Palmerston North is coming through the depression very well, and this town can certainly be classed among those that are suffering least at the present time. And, with care, there is no reason why this should not continue to be the case. In this connection it may be as well to emphasise, again that optimism is to be distinguished from recklessness, just as caution must be disassociated from undue pessimism. If such a combination as an optimistic Scotsman could be discovered it would probably be found that he was the type best suited to the uncertain conditions of the present time.

THOROUGH STOCKTAKING.

"That the outlook in most businesses is at the presetn time obscure it would be idle to deny, as one business man most aptly put: 'Business is difficult; there arc no precedents to guide us, and wo must steer our course by dead reckoning only.' This, while no doubt worrying for the executive heads, is not an unmitigated evil, because it means that if this is consistently carried out a thorough stocktaking of the position of each business is necessary, and progress and development are based upon fundamentals.

At the same time, one, regrets to have to record that the'spirit of thrift that one would like to see abroad, and the willingness to make personal sacrifices in time of stress, are as absent to-day as they were six months ago when the last report was presented, and for this reason, if for no other, a heavier tax upon pleasures and luxuries would have been

welcomed,

"What is required by a business man in the development of his business is stable conditions upon which a sound progressive policy can be built, and recognition and appreciation of his efforts to attract and use capital in the development of his business. In this connection nothing but harm can result from constantly changing conditions and incidence of taxation, a 1 good example of which was the proposal of the Government to do away with the exemption of 5 per cent, upon the capital value of business premises, this completely altering the conditions upon which many extensive business building programmes had been.based."