The Hawera Star. THURSDAY, JULY 17, 1924. SIGNS OF IMPROVEMENT.

Hawera Star, Volume XLVIII, 17 July 1924, Page 4

The Hawera Star.

THURSDAY, JULY 17, 1924. SIGNS OF IMPROVEMENT.

Delivered every evening by 8 o'clock in Hawere, Manaia, N^rmanby. Okaiawa, Eltham, Mangatoki, Eaponga, Awatuna, Opunake, Otakeua Manutahi, Alton, Hurleyville, Fate*, Waverley, Mokoia, WKakamara, Obangai, Meremere. Fraser Road, and

Montaigne wrote *‘The most, certain sign of wisdom is a continual cheerfulness,” and Emerson tells us that “Health is the condition of -wisdom, and the sign is cheerfulness —an open and noble temper.” We welcome therefore the note of cheerfulness contained in the annual report to be presented to the meeting of the Hawera Retailers’ Associativn this evening by the president (Mr Gilbert). On Tuesday we published the bank returns for the June quarter, and those who read the figures and comparisons with the corresponding quarter of last year -would no doubt note that they contained information indicating a steady improvement in some directions in the economic condition of the.. Dominion. Fixed’ deposits have increased, and the banks made greater advances than in the June quarter of last year, at the same time maintaining a substantial excess of deposits over advances. The improvement may appear to be slow, but, remembering the great leeway to be made up through. the slump which followed the inflation period, we think that the position can be regarded as very satisfactory. As so often happens in the reaction from inflation periods, rural areas have suffered severely, and the lot of the farmer has been a very unhappy one indeed. He has found himself loaded with high priced land and many expenses, while a falling price for his product has had to be faced. It is not to be wondered at that at first farmers were in a quandary, hardly knowing what they ought to do. To their great credit many of them have by grit and determination hard work effected improvements in their positions, though unfortunately some find that they have a long way to go before they are “out of the wood.” The difficulty in this district centres in the .high prices asked for land, and in conversation with a very -well-in-formed business man the other day we learned that it is not so much that money is short in the Dominion as that those who have money are unwilling to lend it to farmers on land valued at an abnormal price. Our informant was of the opinion, which we have on several occasions expressed, that land in South Taranaki is still valued at too high a price, and until it is brought down it will be difficult if not impossible for farmers to secure the money needed for their industry. It is realised that it Is much more difficult to deflate than to inflate, and some people are bound to lose in the process, but the price of land must ultimately return to a figure bearing a fair relationship to its productive capacity. The tendency is downward and with it we believe that there is good ground for the optimistic note which Mr Gilbert finds himself able to express. Hawera and district have been passing through difficulties, but considering the nature of those difficulties the position is far better than pessimists would have one believe. The president of the Retailers’ Association believes that the lowest point of the depression has passed and that there are signs of improvement. This expression of opinion should encourage the people of town and district to go forward with renewed confidence in the future. For our part we have always held that with such resources as this district possesses there has been good reason for confidence and that it is the duty of the people of South Taranaki to be loyal and faithful to their district and its institutions. The Retailers’ Association is of the same opinion, and we hope that the appeal of the president for the hearty co-operation and encouragement of a spirit of confidence

in a vigorous and combined effort lo advance the interests of Ilawera and district will meet with a strong response. The town and country can and should work together for their mutual good and for the welfare and progress of the splendid district of which so much can and will be made if the people have confidence and faith and are prepared to co-operate, in the task of building up aud strengthening their district.