The Times. Published on Tuesday and Friday Afternoons. TUESDAY, APRIL 11, 1922. A BRIGHTER OUTLOOK.

Franklin Times, Volume 9, Issue 722, 11 April 1922, Page 4

The Times. Published on Tuesday and Friday Afternoons.

TUESDAY, APRIL 11, 1922. A BRIGHTER OUTLOOK.

That there is a more cheerful tone developing throughout the country must ha\e be n apparent to everybody during lecent months. The depressi n which we feared, and which many regarded as inevitable, has been less serious up to the present than had been anticipated, and to-day greater buoyancy exists everywhere than was the'case a month ago. Perhaps wo are not yet out of the wood, so to speak, and very certainly it would be the height of folly to cease to be prudent in our affairs. But v/e cannot ignore the firmer tendency of the markets which mean so much to our primary industries and, through them, f(- New Zealand generally. Butter p:ie's have made quite a substantial, advance in the markets overseas, and the dairv farmer,, whose outlook a month or two back had seemed a gloomy one, can now see the silver

lining to the heavy cloud of depression which hung over him. Wool also continues its upward tendency, although there is yet scope for improvement ini the wool-growers’ cheques. Taken ail round, even pessimists may find in the present movement of prices good ground for a renewal of confidence in themselves and in their country. Caution and economy within reasonable limits are as necessary as> ever they were, and there must bo well-directed effort to remedy the dangers of the over-speculation and rash investment which had become a national characteristic a few years ago when conditions prompted unlimited enterprise. The sooner we can restore values to an economic level the sooner may we hope to adequately benefit from a market which finds its new and proper plane. Progress on the basis of cautious economy must become our standard; we snould have learnt the lesson that prosperity on the basis ,of mad headed speculation is a condition to guard against. Fortunately, so far. as this district is concerned, the extent of over-ispeculation is more restricted than may be generally supposed, and already considerable headway has been made to re-establish values on a proper level. With that accomplished the next concerted measure must be to secure closer settlement and more intense cultivaton of farm areas. Production is the proper standard by which lands can be valued, and if, by better and more intense farming methods, producton may be Increased acre for acre much will be done in the direction of improving and maintaining values at a reasonable level. On the present outlook there is every cause for confidence; our condition to-day is ever so much better than it was a month, ago* All that is required now to give a good . fillip to v, things is for Mr Massey to discover

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

l-ns a good surpi'-' which to start the new financial year. Given a well-stocked national exchequer in conjunction with improving markets everywhere, the prospect would be indeed r. good one..