“END IN SIGHT”

Gisborne Herald, Volume LXVI, Issue 20114, 7 December 1939, Page 7

“END IN SIGHT”

FINANCIAL STRESS CAUSE OF IMPORT CUTS INDUSTRIAL EXPANSION MINISTER’S SURVEY (Per Press Association.) WELLINGTON, this day. Appreciation of the co-operation of the manufacturers in assisting the Government to promote industrial expansion and to build up a more balanced economy, was expressed by the Minister of Industries and Commerce, the Hon. D. G. Sullivan, in opening the annual conference of the New Zealand Manufacturers’ Federation. In making an appeal for continued co-operation, the Minister asked them to regard the present difficulties as transitory initiation, and’ the annoyances of the present would pass. He was confident that the future would see New Zealand go on to the greater development of manufacturing industries. The Government had taken steps to stabilise the manufacturing industries on a more equitable basis than they previously had and to give them that access to the New Zealand market that could only be had in face of tigerish and intensive competition from overseas in bygone years. Manufacture in N.Z. The most effective method of first increasing the national income was the manufacture as much as possible of raw materials of the farm, forests, mines, and fisheries. We were dependent on exports for income to import, and must necessarily take all the steps deemed possible to protect ourselves against the vulnerability of international fluctuations in the prices of butter, meat and wool. Unless there was a very considerable improvement in the standard of living in the United Kingdom, the chances of New Zealand expanding her market to an unlimited extent were anything but rosy, so the Government had decided that manufacturing in New Zealand should be developed. The national structure must be built, as far as possible, to withstand recessions in overseas markets. The natural resources must he fully utilised.

All Sterling Possible

The Government had given as much of the available sterling as possible to the demand for raw materials and machinery, and that full supplies had not been allowed was a factor that had been governed only by the amount available. He assured them the Government had their interests at heart and desired to see the ordered development of manufacturing in this country. Many of our huge resources were undeveloped. New Zealand must move forward in the world’s industrial march.

Mr. Sullivan went on to say we now had to superimpose the war-time effort on the peace-time advance.

“We have an assured market for our primary products and the end of the financial stringency that has necessitated the restriction if imports is in sight,” he added. It would appear, however, that some measurek of control would always hfc necessary. The common desire should be to incorporate in the national life of all the forces destined to mobilise public wealth and to make it serve the nation within the limits of our possibilities.