The Times. Published on Tuesday and Friday Afternoons. TUESDAY, MARCH 22, 1921. PRUDENCE AND OPTIMISM.

Franklin Times, Volume 9, Issue 618, 22 March 1921, Page 4

The Times. Published on Tuesday and Friday Afternoons.

TUESDAY, MARCH 22, 1921. PRUDENCE AND OPTIMISM.

That in view of the increasingly adverse market values for our primary products the country is called upon to resolutely face the need for economy must be apparent co all. Even the ordinary man whose philosophy of life is expressed in the figures in the pay envelope must, if he be wise, give heed to the writing on the wall. It would be foolish to attempt to blink the facts. But between reasonable and necessary prudence and weak-hearted pessimism there is a very wide gulf indeed. If there is need for economy, and there most certainly is, there is need also for the widespread' promotion of a spirit of cheerful and courageous optimism. It does not do to look on the darkest side of every passing cloud. Difficulties are made to be overcome. True, we are passing through troublesome times, but we f: re not peculiar in that. Indeed, we

ought to congratulate ourselves that we are so much better off than the people of many other countries. There is no need for pessimism in New Zealand; nevertheless there are many pessimists about, and the worst of it is that pessimism is like an epidemic of disease—once let it get a fair hold and it will spread at an alarming rate. There is jneed for combating this tendency to pessimism, and for keeping our eyes on the brighter side of things. The crisis in which we are sharing is worldwide, and it is due to causes arising out of the war. All great wars have reacted in this way,! and it is but natural that after the greatest war in history the return to peace conditions should be accompanied by high prices, difficulties in exchange, and unemployment. World conditions must of necessity be reflected to some extent in New Zealand, but the fact affords no justification for suicidal pessimism. It has been well said that “pessimism is the mother of panic, and financial crises are more often caused by senseless panics than by anything else. It is like a fire in a theatre; let order and calm prevail and all is well, but let there be a panic and many lives are lost.” After all there is every reason to believe that such difficulties as are now confronting us are only temporary, and so long as the situation is handled carefully and wisely ill will come right again. We must cease to squander; that is imperative. But it is equally important that we should continue to spend, to consume, so that the wheels of industry may be kept moving. In other words, we must apply ourselves increasingly to production, keeping a cheerful, optimistic view all the time.

“We nothing extenuate, nor aught set down in malice."